US Elections: Panchshil Realty, Lodha Group – a look at Donald Trump’s business partners, financial interests in India

Donald Trump has long-standing business ties with India, primarily through real estate projects. His company, the Trump Organization, is involved in several luxury developments across major Indian cities like Mumbai, Pune, and Gurugram. These ventures typically operate on a licensing model, where the Trump brand is licensed to local developers who construct and manage the properties.

One of the most high-profile deals was for a luxury tower in Mumbai, which was announced in 2011. By this time, India had become a hotspot for foreign investment in real estate, with investors pouring billions into upscale projects catering to the country's growing elite. Trump's entry into the Indian market aligned with this boom, despite concerns over political connections and corruption within the sector, as per an article by The New Republic.

In 2022, Trump's son, Donald Trump Jr., expressed optimism about their prospects in India. In July, the Economic Times quoted him as saying, “We have a very aggressive pipeline in the north and east and look forward to the announcement of several exciting new projects in the months ahead.” The organization operates primarily through brand-licensing agreements, allowing local developers to use the Trump name while paying royalties, according to various media reports.

Among Trump's notable Indian partners are the Chordia brothers, founders of Panchshil Realty. In 2014, they signed a brand-licensing deal with Trump for luxury developments in Pune. According to a Hindustan Times report, the Chordias are well-connected politically and socially, often seen at high-profile events alongside influential figures.

Another significant collaboration is with the Lodha Group in Mumbai. This partnership has led to developing a 75-storey residential tower in the upscale Worli neighbourhood. Trump described this project as “a jewel not just in the city's skyline, but in the Trump crown.”

Trade relations, criticism

Trump has been critical of India's trade practices despite his business interests. Recently, he referred to India as a “very big abuser” of trade ties during a campaign rally. He accused India of imposing high tariffs on U.S. imports and stated that if elected again, he would consider implementing reciprocal tariffs on Indian goods.

At a rally in Flint, Michigan, he said, “So when India, which is a very big abuser... Modi, he's fantastic. I mean, fantastic man.”