"It is being speculated that Trump could request more access to India's market while following protectionist policies at home," an article in the state-run Global Times said.
"This move would impact firms outsourcing to India and Indian exporters, particularly in the sectors of IT and pharmaceuticals. Currently, India has one of the largest numbers of educated, technically trained people in the world, making it a favoured outsourcing destination for some of the largest US firms. Trump's 'bring jobs back to America' is a challenge to Modi's 'Make in India'," it said.
"With regard to Iran, India wouldn't want many alterations to the US-Iran nuclear deal. The former US-initiated sanctions made it hard for India to engage with Iran and significantly reduced the imports from its neighbour," it said.
The article noted that Mr Trump has directed the Department of Labour to investigate "all abuses of visa programmes that undercut American workers".
But at the same time, the US' continued engagement with its Asian allies like Japan and South Korea would work in India's favour and its commitment to its position on South China Sea might also bring India and US closer, boosting engagement in the field of security, it said.
"Moreover, cooperation on India's anti-terrorism efforts would be welcome," it said.