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India Opposition Demands Modi Halt US Trade Deal

Bloomberg Markets •
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India's main opposition parties have called on Prime Minister Narendra Modi to suspend negotiations on a trade deal with the US and seek amendments to the proposed agreement. The demand comes amid growing concerns about the potential impact on India's domestic industries and agricultural sector.

Opposition leaders argue the current terms could disadvantage Indian producers and workers, particularly in sectors like pharmaceuticals and textiles. They claim the deal favors American interests and could lead to increased imports that would hurt local manufacturing. The timing is particularly sensitive as India faces economic challenges including slowing growth and rising unemployment.

Modi's administration has been pursuing closer economic ties with Washington, viewing the trade agreement as a cornerstone of the bilateral relationship. The opposition's intervention threatens to complicate these negotiations and could delay the deal's completion. With India's parliament set to reconvene soon, the debate over the trade pact is likely to intensify.