US President Donald Trump received some income in the form of royalty from his realty ventures in India, according to his latest annual financial disclosure form for the year 2016.
Trump has listed assets of at least USD 1.4 billion and income of more than USD 452 million, according to the form.
A copy of which was released by the US Office of Government Ethics in the previous week. Trump submitted his disclosure on Tuesday (May 15).
As per the financial discloser form, Trump had two incomes from his India real estate ventures. Both the income has been put in category of royalties.
Trump had an income in the range of USD 1 million – USD 5 million from DT Marks Worli LLC under a license deal with Jawala Real Estate Private Ltd and Lodha Developers Private Ltd. Particularly the location of the deal has been mentioned as New York.
Similarly, Trump had an income in a range of USD 100,000 – USD 1 million from the DT Tower Kolkata LLC under a license deal with Concast Infrastructure Pvt Ltd, Tribeca Creators LLC, Regent Hirise.
Private Limited, Raj Construction Projects Private Limited, and Rob Realty and Infrastructure Limited. According to the financial closure, the location of this deal has been mentioned as Kolkata.
Trump, however, had small (less than USD 201) from DT Tower Gurgaon LLC venture.
As per the closure, his other ventures in India include DT India Venture Managing Member Corp, DT India Venture LLC, Trump Marks Mumbai LLC, Trump Marks Mumbai Member Corp, DT Marks Pune
However, the financial discloser form does not reveal any income from these ventures.
India is Trump Organization’s biggest international market, with residential projects in four cities — Mumbai, Pune, Gurugram and Kolkata, and one commercial, estimated USD 1.5 billion.
Interestingly, Donald Trump Jr. had made at least ten trips to India over the past decade, calling the country “the biggest push for our organization.”
(With inputs from PTI)
Also Read: Trump Organisation and realty deals: An unfinished story in India
