India should reconsider talks for trade pact with US, offer limited zero-to-zero tariff deal: GTRI
India should reconsider talks for trade pact with US, offer limited zero-to-zero tariff deal: GTRI
NEW DELHI: (Apr 10) India should reconsider negotiating a comprehensive free trade agreement (FTA) with the US as it could pose challenges to domestic sectors like agriculture, automobiles and pharmaceuticals, think tank GTRI said on Thursday.
It cautioned that under trade pact with the US, many of Washington's demands such as weakening India's minimum price support system for farmers, allowing genetically modified food imports, lowering agricultural tariffs, changing patent laws to extend drug monopolies, and letting American e-commerce giants sell directly to consumers pose major risks.
The risks include harm to farmer incomes, food security, biodiversity, public health, and the survival of small retailers, the Global Trade Research Initiative (GTRI) said.
