CPI(M) Criticizes US Trade Agreement for Economic Risks

The Communist Party of India (Marxist) has criticized the interim trade agreement between India and the US, citing it poses threats to the economy, agriculture, and national sovereignty. Concerns focus on reduced tariffs affecting farmers, increased dependency on US policies, and demands for transparency in Parliament.

The Communist Party of India (Marxist) expressed strong opposition to the interim trade deal between India and the United States, arguing that it compromises the country's economy, agriculture, and sovereignty. The party urged the government to halt the agreement and present its details in Parliament for public scrutiny.

The CPI(M) claims that the BJP-led government has agreed to substantial concessions, including zero tariffs on key US agricultural exports like fruits and cotton. This decision, they argue, threatens the livelihoods of numerous Indian farmers and undermines the rural economy, which already faces challenges from previous international trade agreements.

Furthermore, the CPI(M) criticized the potential rollback of subsidies and the lifting of non-tariff barriers, stating it would disadvantage Indian farmers against heavily subsidized US imports. They also raised concerns about increased dependency on US defense supplies, arguing it compromises national strategy. Commerce Minister Piyush Goyal, however, maintained that the agreement includes measures to protect local industries and ultimately benefit Indian farmers.

(With inputs from agencies.)