Davos 2025: Welspun's Balkrishan Goenka Optimistic About Trump 2.0, Expects India To Benefit

Donald Trump's presidential election victory in the United States will provide many benefits to local manufacturers in India, according to Welspun Corp. Chairman Balkrishan Goenka.

Goenka, in a conversation with NDTV Profit, shared his thoughts on the potential impact of Trump's presidency on the business prospects of India and the world. "With Trump 2.0, Modi 3.0, we see a different world coming in," he said.

There are two main themes shaping the global economy, he said, adding that Trump would be the real theme and artificial intelligence would be a marketing theme.

According to Goenka, AI will have a big impact on the service industry. He compared the invention of AI to the leap in textile production with the introduction of the power loom, saying that it will signify a major advancement in efficiency, growth and demand.

He stated that the problem in India when it comes to AI is adoption, which according to him still needs to take place more widely.

According to Goenka, Trump's presidency is beneficial for businesses in the US. At the same time, it would also put India in a "much better position" in the global market, he added.

The Welspun chief said that Trump's goal to double the production of oil and gas would expand business prospects of local manufacturers of line pipes and bring down the global price of oil and gas.

Even if 30-50% happens, there's going to be a huge potential in times to come in the line pipes segment, Goenka said.

Energy production going up in the US and not being solely reliant on the Organization of the Petroleum Exporting Countries bodes well for India, Goenka said. In next three to four years, there will be different prices of gas, he added.

Goenka also spoke about Welspun's global presence, saying that it was one of the top three global manufacturers of line pipes. The company has plans to increase in market share in India to 25%, similar to the market share in the US, he added.

India's income and purchasing power is growing steadily and would lead to a "huge flip" in the market in next five to seven years, he noted.

Goenka said the in the next three years, the firm's growth will be coming primarily from textile, oil gas and pipes.