Markets will crash if I lose 2020 US election, says Donald Trump at India Inc roundtable

US President Donald Trump on Tuesday said that the markets will fall drastically if he doesn't win the upcoming presidential elections scheduled in November this year.

“We are going to win again because if you look at what we have done, you will realise it. That is why you are happy in the United States,” Trump said addressing the India Inc at the Embassy in Delhi.

He also invited India Inc to invest "billions" of dollars in the US to reap the benefit of tax and regulation cuts that his administrations has implemented.

On Tuesday, the second and final day of his visit, Trump interacted with top honchos of India Inc including RIL's Mukesh Ambani, Aditya Birla Group's Kumar Mangalam Birla and Tata Group's N. Chandrasekaran amongst others at the business round table event organised at the US Embassy here.

Inviting India Inc to invest in the US economy to create jobs, he talked about an upcoming tax cut for the American middle class and how that unemployment in the US was at a record low.

The President said that the US economy was performing very well and that the consumers there have more disposable incomes due to growing numbers of jobs.

Thanking Indian industry for creating jobs in the US, he said that governments can only aid in employment generation, but its is the private industry which actually creates jobs.

During the event, Trump also said the coronavirus epidemic will soon be brought



under control as China has been working very hard.

Trump said the US plans to spend about USD 2.5 billion in fighting the deadly coronavirus.

"China is working very very hard, I have spoken to President Xi they are working very hard.

They had a rough patch and right now it seems they are getting it under control, they are getting it more and more under control so I think it is a problem that is going to go away," Trump said.

Asserting that the situation in the US is under control, Trump said the US also does business with other nations and wants other countries to be "happy healthy and well".

"Let us see how it works out but I think it is going to work out fine. I hope so. We are working very hard, we are spending a tremendous amount of money also. About USD 2.5 billion on getting everything ready just in case something should happen and also helping other nations who are unequipped to do it," Trump added.

The high profile CEO roundtable with Trump included captains of the Indian industry such as Reliance Industries Chairman Mukesh Ambani, Mahindra Group Chairman Anand Mahindra, Tata Sons Chairman N Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla.

China reported the outbreak of novel coronavirus on December 31, 2019.

On Monday, Chinese officials said the death toll has climbed to 2,592, while the total number of confirmed cases increased to over 77,000.