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are imported into the country or exported out. But several new trade pacts like the Regional Compre- hensive Economic Partnership (RCEP) or the proposed deals pending with Europe, threaten to wipeout India’s small dairy farmers. The vast majority of these farmers are small land holders, owning less than a hectare and just two or three cows or buffaloes. Although the average milk production per animal is very low (3 litres/animal/day) compared to industrialised countries (30 litres/ animal/day), Indian dairy farmers nevertheless have managed to ensure the availability of a nutritious yet affordable food for an ever increas-ing Indian population. Dairy in India is much more than an industry. It is the main source of livelihood for hun-dreds of millions of small and marginal farmers, landless labourers and pastoralists, and tens of millions more people involved in the collection, processing and sale of dairy products, many of whom are women. The international dairy market has long been controlled be finance capital. Essentially what happens is that heavily subsi-dised surplus production in a small number of countries, that have mainly mechanized the dairy sector, is dumped on the international market, and mostly exported into developing countries. Developing countries like India can only protect their dairy sectors from the ravages of this distorted global market by instituting high tariff and non-tariff barri-ers. Without these measures, their small scale dairies would rapidly be wiped out and taken over by global dairy giants. India’s Prime Minister Narendra Modi argued against opening the country to dairy imports in 2013, when he was Chief Minister of Gujarat. 16 Today, India’s dairy sector is protected by an import tariff of 30 to 60 percent. Since 2003, India has also imposed various sanitary and phytosanitary require-ments on dairy imports, which have essentially served to block US dairy products from entering the Indian market. Yet, despite these barriers to imports, dairy compa-nies have found loop holes in the system and have been importing a growing amount of dairy components, like lactose and whey, from Europe and the US. These imports can have significant impacts on India’s cooperative dairies and small scale dairy systems. According to India’s largest dairy cooper-ative AMUL, “Every month about 1,500 tonnes of whey powder gets imported in the country. As a result we are forced to sell our stock cheap because the imported whey is cheaper,” despite import duties of 40 percent. This is not a wild criticism. Many MNCs are waiting at the entry gates to by RCEP agreement (See the box item) ™ Top 1% up $21 Trillion Bottom 50% down $900 Billion Recently, the Federal Reserve of the USA released a new data series called the Distributive Financial Accounts, which provide quarterly estimates of the distribution of wealth in America. The series goes back to 1989, and runs to the fourth quarter of 2018. The insights of this new data series are many, but for this post here I want to highlight a single eye-popping statistic. In 2018, whereas the top 1 percent owned nearly $30 trillion of assets, the bottom half owned less than nothing, meaning they have more debts than they have assets. This is a result of the economic policies followed in the US for the past 30 years, becauses of which the top 1 percent massively grew their net worth while the bottom half saw a slight decline in its net worth. Between 1989 and 2018, the top 1 percent increased its total net worth by $21 trillion. The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period. contd from page 24 in the days to come. A genuinely pro-people, struggle-oriented, united and democratic voice against this onslaught has emerged in the Convention. The Convention was conducted and steered by Vasisht Tiwari; Babu Dhan Murmu, Damodar Tiwari and Francis Shravan. Siya Sharan Sharma made a key Note address in the Convention. D.C.Gohai; Shambhu Mahato; Vasishta Tiwari; V.K.Patole; Sumit Roy; Jai Ram Jerald Kunjur; Ram Kavindra Singh; Francis Shravan; Damodar Tiwari; Babu Dhan Murmu; Jasuva Kachhap; Bachha Singh; Madan Paul; Madan Mohan; Deepak Ranjit; Vikas Chandra Sharma and others have addressed the Convention. The Convention concluded in an atmosphere of unity and struggle. ™ Class Struggle