India-US trade deal: Will protect farmers' interests, says government
NEW DELHI: Amid Donald Trump's offensive, govt on Thursday dug its heels on trade, saying it will not compromise on the interests of farmers.
Commerce and industry minister
Piyush Goyal
's statement in Parliament reflected the stalemate between India and the US over the sensitive issue of farm and dairy sectors.
"We are consistently working for the welfare of the farmers and Indian agriculture, to promote prosperity and ensure food security," the minister said.
The two sectors are seen to have been the main stumbling blocks as India refused to offer concessions, given the dependence of millions of small farmers, largely for subsistence. Govt has managed to keep dairy and agriculture out of trade deals it has signed in recent years, including the most recent one with the UK.
While vowing to protect national interest, Goyal also sought to make clear that India had signed several trade deals, amid rising protectionism. "In an increasingly protectionist world, India has done mutually beneficial trade agreements with UAE, UK, Australia and EFTA countries. We are also committed to similar trade agreements with other countries," he said.
The minister also seemed to be putting the record straight on Trump's comments on India and Russia being "dead economies", pointing out that India was the fastest growing major economy in the world and was now the fifth largest and poised to become the third biggest over the next few years.
"Today, international institutions and economists see India as the bright spot in the global economy. India is contributing to almost 16% of global growth. In the last decade, govt has taken transformative measures to promote India as the manufacturing hub of the world, driven by the Make in India initiative... Govt is confident that we will continue our fast paced journey of inclusive growth and sustainable development towards the goal of Viksit Bharat 2047.
"
Goyal said that govt is examining the implications of the recent development and the commerce department was holding stakeholder consultations. "The Govt attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of the industry," he said in what was a message to comfort businesses and other stakeholders.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
30 minutes ago
- Hans India
Autodesk launches regional data offerings in India, enabling local data storage
New Delhi: San-Francisco headquartered Autodesk on Thursday announced the expansion of its regional data offerings to India, enabling businesses and public sector organisations to store their data within the country. The move enables enterprises, particularly those in regulated sectors such as infrastructure, government, and utilities, to select India as their primary data storage location when utilising Autodesk's cloud collaboration tools. "The newly introduced India-based regional storage offering will empower businesses and public institutions to harness the full potential of cloud-powered design and construction, while delivering international standards of data integrity and performance. "India is a strategic growth market for Autodesk, and we are launching focused initiatives to offer tailored design and make solutions suiting the Indian realities," said Kamolika Peres Gupta, Vice President, India and SAARC, Autodesk. The India-based data storage capability applies to products including Autodesk Docs, Autodesk BIM Collaborate, and Autodesk BIM Collaborate Pro. The regional offerings are supported by Amazon Web Services (AWS) infrastructure in India. With this launch, India joins other regions, including the United States, the European Union, Australia, the United Kingdom, Germany, Japan, and Canada, where Autodesk provides regional data storage options.
Hindustan Times
30 minutes ago
- Hindustan Times
Lord's Mark Industries Ltd Prepares for BSE Market Entry, Eyes NSE Listing and Worldwide Business Expansion
Lord's Mark Industries Ltd, a prominent and rapidly growing Indian conglomerate with business interests spanning healthcare, diagnostics, renewable energy, and cutting-edge technology, is poised to make its mark on the capital markets with an upcoming listing on the Bombay Stock Exchange (BSE). This milestone move reflects the company's strategic ambition to elevate its presence, not just within India, but across global business landscapes. Lord's Mark Industries Ltd Prepares for BSE Market Entry This listing follows the company's recent National Company Law Tribunal (NCLT) clearance for the merger with Lord's Mark India Ltd (formerly Kratos Energy and Infrastructure Ltd) — a significant development that is reshaping the group's business trajectory. The merger is designed to unlock operational efficiencies, enabling greater resource optimisation, streamlined management, and robust expansion into new verticals. Beneficial Share Swap for Investors - As part of the merger structure, shareholders of Lord's Mark Industries Ltd will be entitled to a share swap ratio of 1:1.25. For every share held in Lord's Mark Industries Ltd, investors will receive 1.25 shares in the newly consolidated Lord's Mark India Ltd. This favourable ratio underscores the company's commitment to creating value for its shareholders and supports the vision of building a stronger, more dynamic corporate entity. Strong Global Investor Backing and Strategic Partnerships - The announcement of the BSE listing has also been accompanied by significant interest from international investors, demonstrating robust confidence in Lord's Mark Industries' diversified business approach, resilience, and forward-looking strategies. Notably, the company has received a high-value proposal for a global partnership concerning its Medtech product line—a flagship portfolio in the green energy segment. This partnership is poised to accelerate the company's international reach and solidify its standing as a key player in the renewable energy market. Capital Market Journey: BSE Launch, NSE on the Horizon - The BSE listing serves as the launchpad for Lord's Mark Industries' wider capital market journey. With eyes set on further growth, the company has initiated plans to pursue a listing on the National Stock Exchange (NSE) within the next six months. This dual-exchange presence is anticipated to boost stock liquidity, expand the investor base, and enhance visibility among both domestic and foreign institutional investors. The NSE listing will also offer better price discovery and increased access to capital — factors that are crucial for the company's future growth plans. To know more visit: Note to the Reader: This article is part of Hindustan Times' promotional consumer connect initiative and is independently created by the brand. Hindustan Times assumes no editorial responsibility for the content.
Indian Express
30 minutes ago
- Indian Express
Nitish Kumar's domicile policy before Bihar elections may not placate the youth
The Bihar government has announced a domicile policy for recruiting school teachers under the Teachers' Recruitment Exam 4 (TRE4). It has come after a long-drawn-out student agitation demanding reservation in government jobs based on domicile. In 2020, when the Nitish Kumar government brought in the domicile policy for the recruitment of school teachers, it was part of his election promises. However, it was scrapped in 2023 and led to massive protests. In its defence, the government argued that there was a shortage of competent and qualified candidates to teach some subjects, and it was also not legally tenable. Interestingly, the RJD was then the alliance partner. But later, Tejashwi Yadav cornered Kumar over the issue and promised that if his government gets elected, he would revive the domicile policy. It was, nevertheless, the newly born Jan Suraaj party that has highlighted the issue amidst slogans like: 'Vote de Bihari aur naukri le Bahri'. It is yet unclear whether the domicile policy would stand judicial scrutiny. As per reports, 85 per cent of the teachers recruited through TRE4 would be residents of Bihar. According to the amended rules, the students from Bihar state boards would be prioritised. Earlier, the government announced that only the 'permanent residents' of the state would be eligible to get the benefit of the women's reservations in government jobs. Reservations have always been a contentious issue across India. But politics over domicile policy is recently getting traction in the competitive populist discourse. The 'son of the soil' movement is not new to Indian politics. It is like freebies, masquerading as welfare measures and social justice that parties dole out on the eve of the elections. The domicile policy often works as a measure to cover for their failures in ensuring economic development and imparting quality education to the younger population, enabling them to enter the job market. Apart from the domicile policy, Nitish Kumar in recent months has announced a slew of populist schemes like 125 units of free electricity per month, a hike in honorarium of support staff in government schools, incentives for ASHA workers, a rise in social security pension, and the establishment of separate commissions for the youth and sanitation workers. The ageing and beleaguered CM is facing the most difficult election of his political career, with 20 years of anti-incumbency heavily stacked against him. His position in the NDA also looks shaky, as there is no firm commitment from the BJP on his future leadership. Chirag Paswan's LJP, despite being a part of the NDA, hardly misses any chance to snipe at him. The main opposition party, the RJD – the ghost of 'jungle raj' still haunting it and with no significant increase in its social base – has made unemployment a major poll issue. Tejashwi Yadav's continuous push for jobs, despite the inglorious track record of his own party, may offer it a ground to corner the NDA. In the 2020 Assembly election, he had come very close to victory with the poll slogan, 'Kamai-Dabai-Sichai'. This time, there is also a Prashant Kishore factor, which has made education, development and employment, along with mass migration of workers, key agendas of his electoral campaign. In the polarised social context of Bihar, unemployment, lack of industrialisation, and quality education seem to have turned a sizeable section of the youth into caste agnostics. The rhetoric of social justice has run its full course. It is unlikely that populist tactics, like domicile policy, reservation or freebies, would impact the electoral verdict in any significant way. The rest depends on the twists and turns of the coming election. The writer is professor, Political Science at Aryabhatta College, University of Delhi
