'Fifteen or so billionaires': Former Trump aide claims they shaped India’s trade policy in book

As Donald Trump threatens new tariffs on India over Russian oil purchases, fresh light is being cast on how his trade agenda toward New Delhi has been shaped. In his 2023 book No Trade is Free, former U.S. Trade Representative Robert Lighthizer revealed that he tracked the fortunes of India’s billionaires—whom he called “oligarchs”—to predict India's moves in negotiations.

Lighthizer, Trump’s chief trade negotiator in his first term and a long-time trade skeptic, wrote that during talks with Indian officials he kept biographies of “fifteen or so billionaires” on his desk. “In predicting Indian government positions, I would look to the interests of these men,” he said, adding that an Indian friend once corrected him: only seven truly “ran the country.”

The comments strike at a long-running political fault line in India. 

The revelations come as Trump, in his second term, escalates his protectionist playbook. On Monday, he accused India of reselling Russian oil at “big profits” and threatened “substantial tariffs,” days after imposing a 25% levy on Indian exports alongside a Russia-linked penalty.

In his book, Lighthizer branded India “the most protectionist country in the world,” citing high tariffs, strict safety standards, and a bureaucracy designed to keep imports out. He wrote that Modi believed in lifting India through “state control of innovation, high tariffs, mercantilism, and protectionism.”

Yet, Lighthizer also stressed that Washington and New Delhi remain “natural friends” because both see China as their greatest geopolitical threat. “The adversary of my adversary is my friend,” he noted.

The book also offers glimpses into U.S. frustration with India’s trade talks. Lighthizer recalled little progress under former commerce minister Suresh Prabhu but praised Piyush Goyal as a “smart, gifted politician” who advanced discussions on tariffs, agriculture, medical devices, e-commerce, and insurance—though a final deal never materialized.

Lighthizer’s behind-the-scenes account underscores the transactional streak in Trump’s India policy: maintain relations, but leverage them for greater U.S. market access. With Trump now doubling down on tariffs, that approach seems set to continue.