Does Trump look to India for inspiration? His $1000 scheme hints so

The Trump administration this week launched a scheme aimed at newborns. The 530A account programme, dubbed Trump Accounts, was unveiled with much fanfare at a US Treasury event, offers a $1,000 seed fund to every newborn US citizen to be invested in low-cost funds that can only be accessed when the child turns 18 years of age.

Setting aside the pros and cons of the scheme, one aspect has largely gone unnoticed, the Trump Accounts are far from novel. At least five Indian states run similar programmes, with Tamil Nadu introducing one as early as 1992.

The scheme adds to growing evidence that Trump and his administration draw inspiration from India's concepts and ideas. For example, Trump's Make America Great Again echoes India's target of becoming Vishwaguru.

So what exactly are Trump Accounts, how closely do they mirror Indian state schemes, and where else does MAGA appear to have borrowed from Indian welfare policies, and India and Prime Minister Narendra Modi?

WHAT IS THE TRUMP ACCOUNT FOR NEWBORNS?

The Trump Account, according to the US Treasury Department, is a tax-advantaged investment account federal programme created under the One Big Beautiful Bill Act (OBBBA) for the express purpose of giving every eligible American child a financial head start at birth and making them less reliant on financial assistance.

Under this scheme, the federal government will deposit a one-time $1,000 seed fund into the accounts of every US child born between January 1, 2025 and December 28, 2028, so long as the child has a Social Security number and is a US citizen.

Investment advisory firm Vanguard describes Trump Accounts as similar to Individual Retirement Accounts (IRAs), though designed for children rather than retirement. Funds are invested in low-cost US stock market instruments, including mutual funds and exchange-traded funds (ETFs), aimed at long-term growth.

The account will be administered by an adult, with withdrawals restricted until the individual turns 18. Beyond the initial federal contribution, families, employers and philanthropists may add up to $5,000 annually to build additional savings over time.

HOW THE TRUMP ACCOUNT ECHOES INDIAN FINANCIAL-ASSISTANCE SCHEMES?

The Trump Account brought with it much fanfare. At the launch of the scheme, the US Treasury Secretary, Scott Bessant, on Wednesday said, "Trump Accounts are the defining policy of America's 250th anniversary. By expanding equity ownership to all citizens, President Trump is re-founding the nation on the ideal of ownership..."

However, looking at the scheme from a broader point of view, it seems that the Trump Accounts are seemingly inspired by various financial assistance at birth schemes instituted by several Indian states over the years.

As of 2026, at least five Indian states have schemes that provide newborns with financial assistance in the form of grants and fixed deposits.

Tamil Nadu introduced the Chief Minister's Girl Child Protection Scheme in 1992, offering each girl born to a family with an annual income under 1,20,000 a fixed deposit (FD) of 50,000 via the Tamil Nadu Power Finance and Infrastructure Development Corporation. The amount can be withdrawn when the girl turns 18, after appearing for the Class 10 exams.

Bihar launched the Mukhyamantri Kanya Suraksha Yojana in 2007, providing each girl born to Below Poverty Line (BPL) families after November 22, 2007, a Rs 2,000 grant invested as an FD in her name by the Women and Child Development Corporation in banks such as UCO and IDBI.

Delhi introduced the Ladli Scheme in 2008, giving an immediate Rs 11,000 cash grant to each girl born after January 1, 2008, in a registered hospital, provided the family's annual income did not exceed Rs 100,000. Further grants were linked to educational milestones.

Haryana launched Aapki Beti Hamari Beti in 2015, providing 21,000 for girls born to BPL or SC families, invested with the LIC, which can be withdrawn at age 18.

Meanwhile, Maharashtra introduced the Majhi Kanya Bhagyashree Yojana in 2017, offering girls born to families earning less than 7,50,000, a 50,000 FD, accessible after they turn 18.

HOW TRUMP'S IDEAS SEEM TO BE FROM MODI'S BOOK

It's not just the Trump Account that mirrors Indian schemes. Previously it has seemed that Trump could be reading from Modi's script.

In his January 20, 2025, inauguration speech, Trump declared, "The Golden Age of America begins right now," a phrasing that mirrors Modi's Amrit Kaal vision introduced during India's 75th Independence Day celebrations in 2021, which outlined a 25-year roadmap to India's rise.

Trump's emphasis on making America "greater, stronger, and far more exceptional than ever before" parallels Modi's calls for India to assume global leadership as a Vishwaguru or "global guru".

Both leaders use themes of national pride, cultural revival, and a destiny-driven narrative that positions themselves as chosen to lead their nations. From asserting economic self-reliance to promoting unity and patriotic fervour, it closely resembles Modi's style.

But perhaps most egregiously, both the American President and the Indian Prime Minister have publicly suggested that divine intervention played a role in their rise to power. PM Modi had in May 2024 said he was convinced that he was sent by God for a specific task. Similarly, during a speech on January 20, 2025, Trump referenced the attempt on his life at a campaign rally and framed his survival as divinely ordained. "Just a few months ago, in a beautiful Pennsylvania field, an assassin’s bullet ripped through my ear," he said. "But I felt then, and believe even more so now, that my life was saved for a reason."

These force one to think if the similarities in schemes are just coincidences or is the Trump administration looking at India to draw ideas for implementation.

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