Indian workers go on a daylong nationwide strike against Modi's economic reforms
NEW DELHI (AP) — Hundreds of thousands of workers across India went on a nationwide strike on Wednesday in opposition to Prime Minister Narendra Modi's efforts to privatize state-run companies and other economic reforms , partially disrupting public services and manufacturing.
A coalition of 10 major trade unions that represent laborers and several other groups that speak for farmers and rural workers called for the one-day industrial action, dubbing it Bharat Bandh,' Hindi for 'Shut Down India.'
The strikes pose fresh challenges for Modi's efforts to attract foreign companies by easing labor laws to streamline business operations and boost productivity.
Unions that helped organize the strikes say that coal mining operations were halted in several states while some trains came to a grinding halt as protestors blocked the network, and that banks, insurance companies and supermarkets were disrupted.
An Associated Press photographer in the eastern city of Kolkata saw protestors walking in a rally at a local railway station, some shouting slogans against the government and burning an effigy of Modi. Another, in the financial capital Mumbai, witnessed bank employees shouting slogans against the privatization of state-run banks.
The Press Trust of India reported traffic in eastern India's Odisha state was halted in some areas, while in the southern state of Kerala, shops, offices and schools remained closed, with roads looking deserted.
The government hasn't formally commented on the workers' strike. It usually dismisses assertions made by these unions.
The workers' demands include higher wages, halting privatization of state-run companies, withdrawal of new labor laws and filling vacancies in the government sector. The farmers' groups also want the government to increase the minimum purchase price for crops such as wheat and rice.
Modi's government has opened some sectors of the Indian economy to foreign direct investments and offered billions of dollars in financial incentives to attract local manufacturing. It has also aimed to bridge the budget deficit with a drive to privatize loss-making state-run companies and unveiled new labor laws that promise workers higher statutory minimum wages, social security and healthcare.
However, the trade unions aren't convinced and want the new laws to be scrapped.
'The government intends to suppress workers in the name of ease of doing business through labor reforms,' said Amarjeet Kaur, general secretary of All India Trade Union Congress, a prominent union taking part in the strike.
Tapan Sen, general secretary of the Centre of Indian Trade Unions, or CITU, which is aligned with a communist party and a key trade union that is part of the group that called for the strike, said he got reports of protesting workers blocking several national highways and rail routes.
'Coal mining operations in most states have come to a halt. Services in banking, insurance, manufacturing and petroleum refineries are impacted too,' said Sen.
A. Soundararajan, a prominent trade union leader in the southern state of Tamil Nadu said the police detained around 30,000 protesting workers on Wednesday. Manufacturing activities at several companies have also been hit, he said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Ample Global Supplies Undercut Sugar Prices
October NY world sugar #11 (SBV25) on Friday closed down -0.28 (-1.69%), and October London ICE white sugar #5 (SWV25) closed down -9.20 (-1.92%). Sugar prices retreated on Friday and have been under pressure this week due to speculation that India may boost its sugar exports. More News from Barchart Coffee Prices Settle Higher on Brazil Weather Risks Grain Market Update: Where are Soybean, Corn, and Wheat Prices Headed? Weather Risks in Brazil Boost Coffee Prices Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! On Wednesday, sugar prices fell to 3-week lows after Bloomberg reported that India may permit local sugar mills to export sugar in the next season, which starts in October, as abundant monsoon rains may produce a bumper sugar crop. India's Meteorological Department reported Monday that cumulative monsoon rain in India is 6% above normal as of July 21. The outlook for higher sugar production in Brazil is bearish for sugar prices. Datagro said Monday that dry weather in Brazil has encouraged the country's sugar mills to increase their cane crushing, diverting more of the cane crush toward more profitable sugar production rather than ethanol. According to Covrig, Brazil's sugar mills are expected to crush 54% of the available cane in the first half of this month, likely adding 3.2 MMT of sugar into the market. The outlook for higher sugar production in India, the world's second-largest producer, is bearish for prices. On June 2, India's National Federation of Cooperative Sugar Factories projected that India's 2025/26 sugar production would climb +19% y/y to 35 MMT, citing larger planted cane acreage. That would follow a -17.5% y/y decline in India's sugar production in 2024/25 to a 5-year low of 26.2 MMT, according to the Indian Sugar Mills Association (ISMA). Also, the ISMA reported on July 7 that India's sugar production during Oct 1-May 15 fell -17% y/y to 25.74 MMT. Sugar prices have retreated over the past three months, with NY sugar falling to a 4.25-year low earlier this month and London sugar sliding to a nearly 4-year low, driven by expectations of a sugar surplus in the 2025/26 season. On June 30, commodities trader Czarnikow projected a 7.5 MMT global sugar surplus for the 2025/26 season, the largest surplus in 8 years. On May 22, the USDA, in its biannual report, projected that global 2025/26 sugar production would increase by +4.7% y/y to a record 189.318 MMT, with global sugar ending stocks at 41.188 MMT, up 7.5% y/y. Signs that the recent slide in sugar prices to 4-year lows has sparked a pickup in demand are positive for sugar prices. China's June sugar imports soared by 1,435% to 420,000 MT. Also, President Trump last Wednesday said Coca-Cola agreed to use cane sugar in Coke beverages sold in the US instead of high-fructose corn syrup, which could boost US sugar consumption by +4.4% to 11.5 MMT from 11 MMT currently, according to Bloomberg Intelligence. Sugar prices also have support from reduced sugar production in Brazil. Unica reported last Monday that the cumulative 2025/26 Brazil Center-South sugar output through June fell by -14.3% y/y to 12.249 MMT. Last month, Conab, Brazil's government crop forecasting agency, said 2024/25 Brazil sugar production fell by -3.4% y/y to 44.118 MMT, citing lower sugarcane yields due to drought and excessive heat. The outlook for higher sugar production in Thailand is bearish for sugar prices. On May 2, Thailand's Office of the Cane and Sugar Board reported that Thailand's 2024/25 sugar production rose +14% y/y to 10.00 MMT. Thailand is the world's third-largest sugar producer and the second-largest exporter of sugar. The International Sugar Organization (ISO) raised its 2024/25 global sugar deficit forecast to a 9-year high of -5.47 MMT on May 15, up from a February forecast of -4.88 MMT. This indicates a tightening market following the 2023/24 global sugar surplus of 1.31 MMT. ISO also cut its 2024/25 global sugar production forecast to 174.8 MMT from a February forecast of 175.5 MMT. The USDA, in its bi-annual report released May 22, projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT and that global 2025/26 human sugar consumption would increase +1.4% y/y to a record 177.921 MMT. The USDA also forecasted that 2025/26 global sugar ending stocks would climb +7.5% y/y to 41.188 MMT. The USDA's Foreign Agricultural Service (FAS) predicted that Brazil's 2025/26 sugar production would rise +2.3% y/y to a record 44.7 MMT FAS predicted that India's 2025/26 sugar production would rise +25% y/y to 35.3 MMT due to favorable monsoon rains and increased sugar acreage. FAS predicted that Thailand's 2025/26 sugar production will climb +2% y/y to 10.3 MMT. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
Milei Cuts Export Levies on Argentine Soybeans in Nod to Farmers
(Bloomberg) -- President Javier Milei said he's chopping tariffs on Argentina's exports of meat and crops including soybean products to appease the country's farmers, who view the libertarian leader as falling short on his free-trade promises. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Argentina's influential farming associations have been seeking relief from the levies, which have held back rural development in Argentina and helped make Brazil the region's undisputed agricultural powerhouse. Tariffs on soy meal and soy oil — Argentina is the top exporter of both — will fall to 24.5% from 31%. For soybeans, the rate drops to 26% from 33%, and for corn to 9.5% from 12%. Several beef cuts will now be taxed 5% instead of 6.75%. Argentina's export tariffs are 'a great scourge that should never have existed,' Milei said at an annual cattle show in Buenos Aires. 'These reductions are permanent and won't be reversed while I'm in power. Extinguishing export tariffs is an obsession of our administration.' Lower rates will make Argentina more competitive as global trade is redrawn by US President Donald Trump's tariffs. While Milei is ideologically opposed to the levies, he still needs the billions of dollars in annual revenue that come from crop and meat cargoes, especially soy, to achieve his priority of posting budget surpluses. While Milei has been unshackling agriculture from years of government intervention, export tariffs remain the elephant in the room. The cuts announced Saturday will help growers, who have strongly backed Milei but are struggling to turn a profit amid low global crop prices. Nicolás Pino, head of the Argentine Rural Society, called on Milei to keep shrinking the tax burden on farmers. 'That includes, above all else, scrapping export tariffs,' he said, addressing the event just before Milei. 'They're worse than the plague, floods or drought.' Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Milei Cuts Export Levies on Argentine Soybeans in Nod to Farmers
(Bloomberg) -- President Javier Milei said he's chopping tariffs on Argentina's exports of meat and crops including soybean products to appease the country's farmers, who view the libertarian leader as falling short on his free-trade promises. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Argentina's influential farming associations have been seeking relief from the levies, which have held back rural development in Argentina and helped make Brazil the region's undisputed agricultural powerhouse. Tariffs on soy meal and soy oil — Argentina is the top exporter of both — will fall to 24.5% from 31%. For soybeans, the rate drops to 26% from 33%, and for corn to 9.5% from 12%. Several beef cuts will now be taxed 5% instead of 6.75%. Argentina's export tariffs are 'a great scourge that should never have existed,' Milei said at an annual cattle show in Buenos Aires. 'These reductions are permanent and won't be reversed while I'm in power. Extinguishing export tariffs is an obsession of our administration.' Lower rates will make Argentina more competitive as global trade is redrawn by US President Donald Trump's tariffs. While Milei is ideologically opposed to the levies, he still needs the billions of dollars in annual revenue that come from crop and meat cargoes, especially soy, to achieve his priority of posting budget surpluses. While Milei has been unshackling agriculture from years of government intervention, export tariffs remain the elephant in the room. The cuts announced Saturday will help growers, who have strongly backed Milei but are struggling to turn a profit amid low global crop prices. Nicolás Pino, head of the Argentine Rural Society, called on Milei to keep shrinking the tax burden on farmers. 'That includes, above all else, scrapping export tariffs,' he said, addressing the event just before Milei. 'They're worse than the plague, floods or drought.' Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.