Indian markets levered open - Brief Article

A secretive trade agreement has opened India's markets to American imports. The bilateral trade treaty, which came into effect on December 28th last year, was secured through an exchange of letters between Susan Esserman of the US Commerce Department and NN Khanna of the Indian Ministry of Commerce. According to the terms of the deal, America will be allowed to export 714 agreed types of goods to India by April 2000, and a further 715 by April 2001.

In another example of the corporate hijacking of democracy, it was even suggested to the US not to announce the 'agreement' until the Indian Parliament had gone into recess, so that there could be no democratic debate on the subject.

The sudden flood of American goods, which include foods like basmati rice and tea, will force domestic prices down, destroying farmers livelihoods across India. The agreement also allows America to sell its carcasses and animal waste parts to India.

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