Indian trade minister Piyush Goyal says the planned trade deal with the US will not compromise farmers' interests. Farm groups disagree and plan further protests in November.
Piyush Goyal, India's trade minister, said on Thursday that India will not compromise the interests of its farmers or stakeholders in a trade deal with the US. He added that India will have a strong advantage once the agreement is sealed.
His remarks come as New Delhi nears the end of finalising the first phase of the agreement with Washington, while both sides try to overcome hurdles. Some Indian farmers have criticised the deal, fearing it is rushed and offers market access to many American agricultural products.
Farm coalition says deal puts farmers up for sale
Earlier this month, the Samyukt Kisan Morcha (SKM), a coalition of more than 100 farm groups, said the deal put "farmers for sale" because it eliminated India's high tariffs on agricultural products such as maize, almonds, walnuts, apples and soybean oil.
The two nations unveiled the deal's framework in February, which brought down President Donald Trump's punitive tariffs on most Indian goods. They have not yet signed off on the pact.
Since then, farming groups have repeatedly urged the government to share more details. They fear the deal would allow imports of subsidised US farm products that could depress domestic prices and hurt rural incomes. The farm union will organise further demonstrations in November to protest against the deal and have it withdrawn, according to the SKM statement.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
