When Donald J. Trump began his initial presidential campaign, two Trump-branded buildings were under construction in India, located in Mumbai and Pune. Prior to his 2016 election victory, the Trump Organization expanded its presence in India by signing additional agreements in two major cities.
Following Mr. Trump’s victory in November 2016, an Indian developer announced plans for approximately six new deals. Under these arrangements, Indian firms acquire land, construct high-rises, sell the units, and pay a fee to utilize the Trump brand.
These developments are positioning India as a focal point for the Trump Organization, raising concerns about potential conflicts of interest as Mr. Trump seeks a return to the White House.
During his first term, Mr. Trump navigated unprecedented territory as a sitting U.S. president with extensive international business interests. For his second term, the Trump Organization plans to implement a more limited ethics strategy that is not expected to significantly restrict its expansion.
While the United States remains central to the Trump family's real estate ventures, the organization has established a presence in the Philippines, Turkey, and Uruguay, with plans for Trump Towers in Saudi Arabia and the United Arab Emirates. However, India is particularly notable, with plans to increase the number of Trump-branded buildings to ten in the coming years.
India’s economy is projected to surpass Japan’s and become the world’s fourth largest by 2025, with a rapidly growing affluent consumer class, despite a significant portion of the population facing stagnant incomes.
Mr. Trump has maintained a favorable political relationship with Indian Prime Minister Narendra Modi, whose support has reportedly strengthened the Trump brand in the region, according to Indian real estate experts.
Kalpesh Mehta, founder of Tribeca Developers, a Mumbai-based firm collaborating with the Trump Organization, indicated plans for Trump Towers in southern cities such as Hyderabad and Bengaluru, as well as additional developments in Mumbai, Pune, and the outskirts of New Delhi.
Currently, there are two completed Trump Tower buildings in Mumbai and Pune, while others are at various stages of construction.
After Mr. Trump’s first election, the Trump Organization committed to refraining from new international deals during his presidency, delegating operations to his sons, Donald Jr. and Eric. Mr. Mehta stated that the Trump sons plan to visit India in early 2025 to promote the new projects.
In 2018, Donald Trump Jr. faced ethical scrutiny for visiting India and scheduling a talk on geopolitics, eventually clarifying that he was there as a businessman.
The Trump Organization, headquartered in New York, did not respond to specific inquiries regarding its plans in India. A company spokesperson noted their involvement in significant projects in India over the past decade and expressed pride in the strength of the Trump brand in the region.
In Kolkata, a 38-story tower is under construction by local developer Unimark, which was rebranded as Trump Tower Kolkata following a licensing agreement in 2016. The association with the Trump name has attracted buyers, despite construction delays and concerns about financing.
Many prospective buyers, such as Poonam Dutt, have expressed confidence in the quality associated with the Trump brand, despite frustrations over delays. Dutt and her husband purchased an apartment in 2018, emphasizing the significance of owning a unit in a Trump Tower.
In India, it is common for properties to be sold before completion, particularly when linked to a reputable brand. Promotional materials for Trump Tower Kolkata highlight the prestige of the Trump name.
Interest in the project remains strong, with buyers like Sumit Bhalotia making substantial down payments, despite the postponed completion date now set for September 2024 due to pandemic-related delays. Bhalotia, along with other buyers, continues to await the fulfillment of their investments.
Despite the ongoing frustrations, Bhalotia holds optimistic expectations for the future, particularly in light of the recent election.