India decided not to compromise with the interests of the farmers as allowing US farm goods into the country’s markets would adversely affect the prices, Union agriculture minister Shivraj Singh Chouhan said on Tuesday.
Chouhan was referring to the trade deal with the US that is yet to materialise after dispute over allowing American corn, soybean and other farm goods led to President Donald Trump imposing steep tariffs, hampering further negotiations. Trump later doubled the levies on India to 50 percent, blaming New Delhi’s Russian oil purchases for the additional tariffs.
"The whole country was apprehensive, tariff...You know how much land they hold: 10,000 hectares, 15,000 hectares. Meanwhile, our farmers have land ranging from one acre to three acres, with many having just half an acre. We have a little land. Is this competition fair?” he asked during an event.
“You use GM seeds. There are different kinds of perceptions about our GM. The whole country was apprehensive, what will happen? They want their soybean to come here, their wheat, maize, rice. The cost of production per hectare is less there because GM seeds and other things are used, so the yield is more and the cost is less,” Chouhan added.
The Union minister the cost production is higher in India and opening the domestic market for foreign farm goods will lead to further drop in prices.
“Where would the farmer go? Therefore, it was decided that no matter what happens, there will be no compromise with the interests of the farmer."
Earlier, Prime Minister Narendra Modi had said promised his supporters the country will protect the interests of farmers, even if that means he has to pay a “personal price”.
"For us, our farmers' welfare is supreme," PM Modi had said at an event in New Delhi. "India will never compromise on the wellbeing of its farmers, dairy (sector) and fishermen. And I know personally I will have to pay a heavy price for it," he said.
With agency inputs
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.