Even as India enters the final phase of the negotiations for its controversial Free Trade Agreement (FTA) with European Union (EU), the country hasn’t taken into account the red flags raised by citizens’ groups and development specialists.
The undue hurry on the ongoing negotiations between the Indian government and the European Commission (EC) to finalise the EU-India free trade agreement (FTA) has come in for sharp criticism from the NGOs working in the health sector. They have termed the government action as undemocratic.
The free trade agreement that European Union is pushing India to sign could put an end to India's status as the pharmacy of the developing providing affordable medicines, especially HIV drugs to countries like Brazil, Thailand, South Africa, Zimbabwe and several others. The negotiations with EU are on at a feverish pace this week in Brussels even before the parliamentary standing committee looking into the free trade agreements (FTAs) has submitted its report.
A mass rally cum public meeting protesting against the proposed India- EU FTA was held today at Kumbi in Bishnupur district, said a release of United Community Development Platform, Moirang.
The aggressive push by India's tax department to increase revenue has prompted several multinational companies to informally seek the views of lawyers and consultants about invoking bilateral investment promotion and protection agreements to resist the government's demands for more money.
The much-delayed free trade agreement between India and the European Union may finally get through if the government is able to amend the law to allow greater foreign investment in Indian insurance firms.