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India’s geopolitical balancing act

India is benefitting economically from maintaining its historical non-aligned stance in response to tensions between the West and Russia, and Iran to a lesser extent. But notwithstanding a potential universal tariff on all US imports under a second Trump presidency, we think that in the major geopolitical divide of the next decade, the security and macroeconomic benefits of leaning towards the US – and away from China – will prove too compelling for India to remain on the fence.    

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