India is currently a ray of hope in the global economy, and the trade deals it is making demonstrate the world’s confidence in India. India accounts for 15 percent of global growth.” As Kristalina Georgieva of the International Monetary Fund said.. This has become true once again in the latest trade deal between India and the US. With the vision of Prime Minister Modi, India is emerging as a powerful economic power on the world stage today.
The historic trade agreement signed with the US is not about numbers. No, it is an international recognition for the self-reliance of 1.4 billion Indians. This agreement, which aims to increase bilateral trade from about $ 190 billion to $ 500 billion in the next five years, is going to write a new chapter in the Indian economy. Indian exporters will get immense opportunities. The huge reduction in import duties imposed by the US on Indian textiles, engineering goods and pharma products will give our exporters an additional income of about $ 10 billion annually.
In a single year, with the five most powerful economies of the world India’s trade agreements are a success of Narendra Modi’s economic diplomacy. If we look at the economic power of the countries that have signed these agreements, they account for more than 50 percent of the world’s total GDP. Today, Indian goods have direct access to markets that account for half of the world’s wealth. These agreements with countries like the UAE, Australia, Mauritius, as well as key countries in Europe, will provide employment to crores of youth, global market to lakhs of small and medium enterprises, and remunerative prices to farmers.
This is not just business, but a strong foundation laid towards building a developed India by 2017. The Congress is campaigning that the agreement with the US has anti-farmer elements. As the party says, it is a reality that foreign products are flooding our market. To prevent this, the government has created a protective shield called the negative list. By placing key crops like dairy, wheat, rice, and sugarcane, which are the backbone of our small and medium farmers in this list, Our farmers have been given complete protection from cheap imports. That is, our internal market will be stable, and there is no chance of our farmers getting a windfall due to foreign competition.Please go threw several Posts available in Posts Menu
On the other hand, this agreement is opening up new avenues of income for Indian farmers. Till now, strict phytosanitary regulations and heavy tariffs were a barrier to exporting our agricultural products to countries like the US. This agreement will allow products like Indian mangoes, grapes, pomegranates, and non-basmati rice to enter the US market with zero duty or nominal duty. This will reduce the involvement of middlemen and ensure that the produce grown by the farmer gets a remunerative price at the international level. This
is not just a business. It is a great social change that will transform our breadwinner into a global exporter.
Also, this agreement is likely to bring huge investments from the US in the agri-technology and cold storage sectors. Modern technology will be available to curb post-harvest wastage. Thus, every grain grown by the farmer will get value. Intellectual The Congress’s allegations that the government has compromised on property rights, which will lead to an increase in drug prices, are ridiculous. India’s pharma sector is a medical hub for the world. More Information available on internet websites.
The opposition should realize that there is no threat to the availability of cheap generic drugs for the common man in our country and that the government is acting with our national interest as the supreme priority in patent laws. Similarly, the comments of Congress leaders about data privacy and sovereignty are ridiculous. The government has already made strict laws giving utmost priority to the data security of Indians through the digital revolution. It is not possible for American tech companies to transfer the information of our citizens unless they comply with Indian laws. The criticism that there is no transparency in these agreement negotiations is also meaningless.
International trade negotiations are conducted with strategic secrecy. Every issue comes before the public after the agreement is concluded. It is absurd for those who made the country a mess before 2014 to talk about transparency today. The main objective of the opposition is to block employment for crores of youth. It seems like an agenda. At a time when the world believes that the 21st century belongs to India, this agreement with the US is a powerful step towards taking our country towards a 5 trillion dollar economy. The opposition should stop obstructing development and recognize this great work being done in the interest of the country.