In a sharp critique during the Lok Sabha debate on the Union Budget, Samajwadi Party chief Akhilesh Yadav targeted the Modi government’s recent interim trade agreement with the United States. Labeling it a mere ‘loose deal’ rather than a solid pact, Yadav questioned the timing and rationale behind the announcement.
The agreement, reached earlier this week, involves India reducing tariffs on certain US imports to as low as 18 percent, while agreeing to zero tariffs on specific American products. US President Donald Trump hailed it as a major win, but the Indian government has remained tight-lipped on details.
Yadav raised eyebrows over whether the Union Budget was crafted before or after this deal was finalized. ‘If BJP claims free trade agreements with multiple nations, which countries are off-limits?’ he probed, highlighting concerns over the impact on India’s economy and rupee stability.
He mocked the deal’s asymmetry, pointing to a supposed $500 million one-sided trade benefit for the US. ‘Where did ‘Atmanirbhar Bharat’ and ‘Make in India’ go when signing this? Is 18 equal to zero in BJP’s math?’ Yadav quipped, urging the government to assess its true effects on domestic businesses.
The SP leader also lambasted the budget for ignoring marginalized communities like the poor, Dalits, and tribals. ‘Nothing for PDA, the poor, Dalits, or Adivasis,’ he charged, accusing the NDA of sidelining these groups.
As opposition voices grow louder, Yadav’s intervention underscores deepening rifts over India’s trade strategy amid global economic pressures. The government’s silence only fuels speculation about the deal’s long-term implications for self-reliance and economic security.