It does seem that if Trump holds all the aces as far as India is concerned, the prime reason being Adani, Modi will bend over backward to fulfill Trump's wishes. It will not be surprising if Apple exits India and Modi does nothing to stop that exit and the consequent job losses. With the passing of the 'Big and Beautiful Bill' by the US Congress, Indians sending money back home will now be subjected to a 5% tax at source, the tax can increase to 15% or 20% depending on Trump's whims.
This will encourage hawala transactions, which effectively means that US dollars will no longer come into India, they will be settled abroad while Indian rupees will exchange hands back here.
India received remittances of $32 billion last year, even if 50% of transactions shift to hawala, then the dent to Indian inward remittance from US will be $16 billion ie. Rs.1,36,000 crore. Last year, NRIs repatriated $120 billion. It will be interesting to see whether Modi fights back or allows his good friend Trump to pulverise India simply because Adani is involved.
