Thursday, April 3, 2025

Mission to Berlin

Date:

Share post:

Prime Minister Manmohan Singh is on a global odyssey when Delhi burns. But he is an achiever. India and Germany have agreed to conclude the Free Trade Agreement this year. Manmohan Singh and German Chancellor Angela Merkel have underlined their strong commitment to a successful outcome of the EU-India negotiations for a balanced FTA. It is expected to generate jobs and growth in both countries. Singh has pressed Germany to provide a strong political thrust to the Bilateral Investment and Trade Agreement with the European block. Merkel has pressed for an increase in the foreign equity cap in India’s insurance sector and reduction in tariff on import of automobiles from Europe. The BJP is unhappy that Singh has committed himself without consulting the Opposition. It fears that FTA would swamp the Indian market with dairy, poultry, sugar, wheat, confectionery, oil seeds, fishery and plantation products from the EU. It will compromise India’s agricultural sovereignty and food security, the BJP feels.

The joint statement also includes defence collaboration and cooperation in climate change, science and technology and education. India will be under pressure to join the export control regime. Singh is anxious to wrap up the deal before the parliamentary elections in 2014. Cooperation in higher education, research and technology is welcome. To what extent German FDI will strengthen Indian economy is however open to question. It will be a damper on agriculture which sustains 70% of India’s population. Beefing up Indian manufacturing with German hi-tech may be flawed by structural lacunae in Indian economy. Increase in the foreign equity cap in insurance will cause a furore in the Opposition benches in parliament. Hiking growth alone is not the way to eradicate poverty, corruption and the current account deficit in the nation’s economy.

Previous article
Next article

Related articles

Trump unveils tariffs

Washington, April 2: President Donald Trump announced plans for sweeping tariffs Wednesday, saying "our country has been looted,...

SC quashes HC order against The Shillong Times

NEW DELHI, April 2: The Supreme Court of India has quashed a contempt proceeding against The Shillong Times...

Kharlukhi raps Biren for remarks on PA Sangma

SHILLONG, April 2: Former NPP state president and Rajya Sabha MP WR Kharlukhi on Wednesday criticised former Manipur...

New snakehead species of fish found in Chokpot

SHILLONG, March 2: Meghalaya has once again gained recognition in the scientific community with the discovery of a...