[Asia Economy Reporter Hyunwoo Lee] U.S. President Donald Trump, who had expressed anticipation for his visit to India, is reportedly expanding his business within the country. Ahead of his first state visit to India since taking office, President Trump expressed his excitement about meeting Prime Minister Narendra Modi, which some interpret as benefiting not only national interests but also his personal business interests.
On the 24th (local time), The Washington Post (WP) reported that Trump Organization, a real estate development company led by Trump's eldest son, Donald Trump Jr., owns or is constructing Trump Towers?known as luxury buildings?in four major Indian cities. According to WP, Trump Towers in India are located in Mumbai and Pune, both known as major trade ports, and are nearing completion in Delhi and Kolkata. Earlier, in 2016, Trump Organization partnered with Indian real estate investment firm IREO to build an office tower in New Delhi, the capital of India.
In February 2018, Donald Trump Jr. personally visited India to promote the sale of Trump Towers, which became a topic of discussion. Prior to his visit, he ran advertisements on the front pages of major Indian newspapers such as The Times of India and Hindustan Times for three consecutive days, stating that buyers of Trump Towers could enjoy dinner with him, sparking controversy both inside and outside the United States.
The Trump family's real estate ventures in India are closely linked with the ruling party, the Bharatiya Janata Party (BJP). The owner of Trump Tower in Mumbai is Mangal Lodha, chairman of the Lodha Group?India's largest real estate conglomerate?and a BJP Member of Parliament. Lalit Goyal, founder of IREO, who partnered with Trump Organization to build the office tower in New Delhi, is known to be the son-in-law of Sudhanshu Mittal, a former BJP parliamentarian.
President Trump, on his first state visit to India since taking office, began his official schedule on the 24th at the Sardar Patel Stadium in Ahmedabad, Gujarat?the world's largest cricket stadium?amid cheers from a crowd of 100,000. During this visit, President Trump plans to sign a memorandum of understanding (MOU) to supply six nuclear reactors for India's state-run nuclear power projects and finalize arms sales contracts worth $3 billion.
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