Farmers scream 'vendetta'

While top leaders of both countries cheer, the reality on the ground is very different Mumbai : Top leaders in the US and India hailed the latest trade deal between the two leading democracies as at least 32 farmers ended their life in Maharashtra in January, officials said. Farmers' leaders like All India Kisan Sabha President Dr. Ashok Dhawale and Vidarbha Jan Andolan Samiti Chairman Kishore Tiwari promptly slammed the NDA Government of 'vendetta' and 'victimising' the Indian...

min read

While top leaders of both countries cheer, the reality on the ground is very different Mumbai : Top leaders in the US and India hailed the latest trade deal between the two leading democracies as at least 32 farmers ended their life in Maharashtra in January, officials said. Farmers' leaders like All India Kisan Sabha President Dr. Ashok Dhawale and Vidarbha Jan Andolan Samiti Chairman Kishore Tiwari promptly slammed the NDA Government of 'vendetta' and 'victimising' the Indian agriculturists. "On one hand the Union Budget has nothing spectacular for the farming community and on the other the government has virtually opened the doors for American agriculture corporations to enter India. This will further ruin our farmers," Tiwari told The Perfect Voice. "The US-India trade deal is a clear vendetta against the farmers for their long and successful struggles against the BJP government in the past over seven years. Even the earlier agreements with the United Kingdom and the European Union and now the latest (USA) have been on the same lines," fumed Dr. Dhawale. "There was no anticipated relief in the Budget 2026-2027, and there's a spate of suicides being reported from Maharashtra, Telangana, Andhra Pradesh mainly from the cotton and soybean regions. On the contrary our farmers are being punished for taking a stand against the government," Dr. Dhawale told The Perfect Voice. Attacking the government, Tiwari said that PM Narendra Modi only talks of Atmanirbhar and Swadeshi but his actions are exactly contradictory. Referring to the US Secretary of Agriculture Brooke Rollins hailing the US-India trade deal, both Tiwari and Dr. Dhawale fear that doom looms over the Indian farming community. Rollins said on X today: "New US-India deal will export more American farm products to India's massive market, lifting prices, and pumping cash into rural America. In 2024, America’s agricultural trade deficit with India was $1.3 billion. India’s growing population is an important market for American agricultural products and today’s deal will go a long way to reducing this deficit." Dr. Dhawale said that the three big recently concluded free international trade agreements may be disastrous not only for the cotton-soybean farmers but the entire Indian agro-economy. Tiwari feels the distress in the farmlands is bound to worsen with such questionable FTAs as all the aid packages of successive Indian government's in the past 20 years have failed as they did not address the core issues affecting the farmers. "Instead, of MIGA, we seem to be obsessed with MAGA. The BJP must first make our own farmers prosperous before looking at the world," said Tiwari in a swipe at the government. Core farm issues ignored The AIKS and VJAS have stressed the need to issue the primary issues like input costs reduction, providing irrigation in dryland regions, monitoring and restoring soil health, effective reforms in the MSP, village base storage and processing facilities. The two organisations also seek long-term credit policy to replace the existing political doles or loans waivers, attractive incentives for diversification from cash crops to food crops, millets, or pulses. India–US trade deal has NOT been signed yet: Goyal Commerce Minister Piyush Goyal has said that the India–US trade deal has NOT been signed yet. He said it will be inked soon. He said core interests are protected: India’s priorities, farmers, MSMEs, dairy, and agriculture, remain non-negotiable. "India is negotiating, from a position of interest, not impulse," asserted Goyal.

India bears the brunt: Nifty crashes 1,100, Sensex nosedives 3,900 points after US trade shock

Correspondent
Apr 7, 2025
2 min read

India woke up to a financial jolt this morning as its equity markets suffered their steepest fall in nearly a year, shaken by the ripple effects of US President Donald Trump’s aggressive new tariff regime. The Sensex plunged over 3,900 points at opening bell, while the Nifty tumbled more than 1,100 points, dragging Indian stocks to a 10-month low.

This sharp decline follows a global equity rout triggered by Trump's protectionist measures, which have sent panic waves across Asia and raised the spectre of a global recession. Investors dumped shares in a massive sell-off, with Indian benchmarks reacting sharply in early trade. The Sensex dropped to 71,425.01 — down 3,939.68 points — while Nifty slipped to 21,743.65, marking a 3.5% slide from the last session.

Adding to the pressure, the Indian rupee depreciated 30 paise to open at 85.74 against the US dollar.

India Among the Hardest Hit

Trump’s latest tariff hike — framed as a push to restore fairness to global trade — has imposed country-specific duties that go as high as 50%. India has been slapped with a 26% tariff, while a 10% baseline duty applies to all nations. This has set alarm bells ringing among Indian exporters and traders already struggling with global demand volatility.

President Trump, unfazed by the financial carnage, likened the move to a bitter but necessary cure. “Sometimes you need the medicine to fix something,” he told reporters earlier today.

Analysts Urge Economic Safeguards

Market experts believe that India's current market turmoil isn't rooted in domestic issues but is rather a consequence of being tightly woven into global investment flows.

“India will face the heat, not due to domestic reasons, but as an interlinked chain in the global portfolio flows,” said Ajay Bagga, a noted market expert. “India will need a fiscal, monetary, and reform package to protect the domestic economy from this global economic winter that is threatening to settle in.”

Sunil Gurjar, SEBI-registered research analyst, warned that the Nifty50 index has breached its first support level and is approaching the next. "A further breakdown could worsen the trend and accelerate the fall," he cautioned.

Asian Markets Bleed

The tremors from Trump's announcement were first felt in Asia, with key markets suffering steep losses. China's stock markets fell over 4% amid retaliatory tariffs of 34% against the US. Hong Kong's Hang Seng nosedived more than 10%, while Japan’s Nikkei index fell 6.5% after plunging 8% earlier in the day. Taiwan saw a near-10% collapse, and Singapore dropped over 8%.

Wall Street Braces for Impact

US markets, though yet to open, appear set for a rough start. Futures contracts on the New York Stock Exchange are sharply down, suggesting heavy losses once trading resumes.

Market sentiment globally has turned bearish, with fears of a looming recession taking hold. Stephen Innes of SPI Asset Management described the scene as “free-fall mode,” noting, “Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.”