Trump calls India a 'dead economy', then banks $12 mn from it without spending $1. Here’s how

Donald Trump is making millions from India’s real estate market, without spending a rupee or building a thing. The Trump Organization earns large upfront fees and a cut of sales just by licensing the Trump name to Indian developers. 

In 2024 alone, it reportedly earned $12 million from Indian projects, including $10 million for a tower in Mumbai, despite Trump deriding India as a “dead” economy.

The Trump Organization, as per an Indian Express report, has built its India portfolio through a high-margin, zero-investment model. 

The firm does not buy land, fund projects, or handle construction. Instead, it licenses the Trump name for luxury real estate developments, collecting branding and development fees upfront and typically earning 3–5% of eventual sales.

This approach has made India the organization’s most profitable international market. From 2012 to 2019, Trump’s firm earned $11.3 million in royalties and fees from four projects in Pune, Mumbai, Gurugram, and Kolkata. 

By 2024, that figure had jumped. Trump’s own financial disclosures show $12 million in new earnings from India—$10 million of which reportedly came from the Mumbai project. Another $2.2 million came from license and royalty fees paid by developers.

Despite dismissing India as economically irrelevant, the Trump brand now stretches across 13 projects in six Indian cities: Mumbai, Pune, Gurugram, Kolkata, Hyderabad, Noida, and Bengaluru. 

From about 3 million square feet of branded real estate until 2023, the Trump footprint is now expected to grow to 11 million square feet once all projects are completed.

The expansion accelerated following Trump’s re-election in November 2024. In the months that followed, The Trump Organization and Tribeca announced six new branded projects totaling 8 million square feet. Three—located in Pune, Gurugram, and Hyderabad—have already launched, representing 4.3 million square feet of luxury development. The report estimates these projects could generate at least ₹15,000 crore (roughly $1.8 billion) in potential sales.

How the model works:

• The Trump Organization licenses its name to Indian developers for an upfront fee.
• Developers buy land and finance the project.
• Indian firms construct the properties—residential or commercial.
• Developers sell units at a premium, leveraging the Trump brand.
• The Trump Organization earns a royalty or sales-linked fee (usually 3–5%).
• If projects are delayed, stalled, or unsold, developers bear the loss—Trump’s fees are unaffected.

Trump’s earnings are guaranteed, regardless of whether a project is delayed, fails to sell, or never completes. He does not bear land, financing, construction, or regulatory risks. His profits stem purely from the brand value of the Trump name.

To facilitate these deals, five new India-based Trump LLCs were incorporated between October and November 2024. Though Donald Trump stepped back from day-to-day operations in 2017, he retains majority ownership, while sons Eric and Donald Jr. now run the organization. As Trump Jr. said, India is “the biggest push for our organization.”