US President-elect Trump elicits mixed reactions from Indian entrepreneurs
US President-elect Donald Trump seems to have divided the Indian startup fraternity. Reactions on him becoming the most powerful person on earth diverged from welcoming to downright standoffish.
Yashish Dahiya, co-founder and chief executive of PolicyBazaar.com, says Trump's victory will bring good in several ways, including fight against terrorism.
"It clearly shows that you win by being yourself. I see radical Islamic terrorism getting hammered going ahead. Also, the trade deficit with China would be cut down," he said.
Dahiya said he doesn't expect any impact on consumer Internet businesses in India due to the change in guard. "It would be business as usual. Investors would continue to put money in businesses where they see strong fundamentals and potential for long-term value," he said.
A few investors are optimistic that, because Trump is a businessman (a real estate and casino developer), he will instinctively be progressive and deviate towards business opportunities.
"I feel he will helpful. He is a businessman and understands the needs of a business. Whatever he does, it will largely be progressive. India is currently much more attractive than other nations, so investments will come," said Anil Joshi, managing partner at Unicorn India Ventures, an early-stage investment firm.
Several entrepreneurs, on the other hand, seemed to be taken by surprise by the turn of events in the US elections which saw a fierce political battle between Hillary Clinton and Trump.
Flipkart co-founder Sachin Bansal, in a tweet, seemed to almost wish for someone other than Trump.
Bernie would have won today— Sachin Bansal (@_sachinbansal) November 9, 2016
LinkedIn India head Akshay Kothari said, in a lighter vein, that people looking to leave the US after Trump's victory could explore opportunities in India.
For everyone thinking about a 4 year break from USA, I recommend spending some time in India. Terrific opportunities. LMK if I can help.
— Akshay Kothari (@akothari) November 9, 2016
Mahesh Murthy, an investor and founder of Pinstorm, tweeted that with Trump at the helm of the US, India now has a chance to be a superpower.
.@realDonaldTrump win is ++ US now protectionist dictatorship like China. UK brexited, Japan clueless. India's chance to be true superpower— Mahesh Murthy (@maheshmurthy) November 9, 2016
Taking further digs in his signatory style, Murthy said Trump's win is killing IT stocks.
Trump's win is killing IT stocks. 500/1000 rupee note ban is killing real estate stocks. Those in IT buying real estate? You're screwed.
— Mahesh Murthy (@maheshmurthy) November 9, 2016