Counterview: India’s CPI(M) Slams EU Free Trade Deal as Elitist and Harmful, Demands Parliamentary Scrutiny
The Communist Party of India (Marxist) has strongly condemned the India–European Union Free Trade Agreement signed on January 27 , laeblling it a “wholesale surrender” of the country’s economic interests to European powers and a move that will primarily benefit elites at the cost of Indian workers, farmers and small producers. In a scathing statement, the CPI(M) Polit Bureau said the deal entails drastic tariff cuts across key sectors, including automobiles, steel, pharmaceuticals, wines and spirits, processed foods, and meat. Representational Image via CPIMSpeaks Under the agreement, India will reduce or eliminate tariffs on over 90% of goods imported from the EU. The CPI(M) highlighted specific tariff reductions: from 110% to 40% on automobiles, 150% to 40% on wines and spirits, 50% to zero on processed foods, 11% to zero on pharmaceuticals, and 22% to zero on iron and steel. “These cuts will devastate India’s domestic industries,” the party said. “The EU itself projects t...