a 400% increase in imports
Submitted by antarchi on April 21, 2009 - 15:50
The entire economy of India was handed over to US in a secret deal to remove import restrictions on 714 items by 1st April 2000 and 715 items by 1st April 2001.
Artificially cheap subsidized products like soya oil started to flood the market. Imports of soyabean oil have increased from 2,36,000 tonnes in 1997-98 to 8,00,000 in 1998-99...
The mustard produced by our farmers which was selling at Rs. 2,000/- per quintal in 1999, is today not even selling for Rs. 900 per quintal. The production of mustard seeds has fallen by 65% and over 60% small oil mills and ghanis have been closed down, rendering lakhs of people unemployed.
As a result of unfair trading practices legalized by the WTO, India's agricultural imports have gone up from Rs. 50,000 million in 1995 to over Rs. 200,000 million in 1999-2000, a 400% increase in imports.
