US Elections 2020 India Impact: Either incumbent Donald Trump will retain power or challenger Joe Biden will take over the reigns of the US Presidentship. The counting of votes is going on with a keen battle seeing the lead between both rivals see-sawing. Zee Business guest and market expert Ajay Bagga who is keeping a close watch on the US elections gives his views in chat with Managing Editor Anil SInghvi. 

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Bagga said that till now only 2/3 rd votes have been counted which is around 95 million votes out of 150-160 million votes that have been polled.

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The battle is still widely open in many states. At the time of the filing of this story, Biden was leading at 209 electoral votes while Trump was trailing at 117 votes. This could dramatically change over the course of time after the 29 votes of Florida and 20 votes of Caroline are accounted, Bagga said. 

Biden in his earlier speech had said that he was against the oil industry and the government will keep the industry in check owing to the climate related issues. Biden may have lost votes in Pennsylvania because of this reason.  

In Florida, the performance is worse than what happened during the Hilary Clinton’s time. Tax is less in Florida and many people go to live there from all parts of America. The people are opposed to higher taxes.  

Moreover, Latinos - the immigrants from Cuba – have given votes to Trump in large numbers. Trump government’s stand on the Cuba is quite sharp in comparison to the previous Obama administration.  

The election is till quite open and it appears that Biden would face some difficulty. Trump has a good chance provided he wins all the battleground states. The picture will become clearer in the next 2-3 hours.  

Significantly, he further said that the Democrats are expected to win Congress. 

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This uncertainty could be seen in the stock, as well as other, markets too, in India and globally Bagga said. He said that Pennsylvania will be a key state and there will be some volatility till the results are out from there.