Commerce and Industry Minister Piyush Goyal on Wednesday criticised the Congress for raising concerns over the India-EU free trade agreement, saying the pact is not a zero-sum deal but a win-win pact, which will power the country's economic growth and create huge opportunities for businesses and people.In a reply to Ramesh's remarks on social media, Goyal said it is interesting to see that those who could not take decisions because they had no connection with the people on the ground are today making a virtue of not doing anything. The minister said that Indian people have paid immense costs for this lost opportunity, and the country has lost valuable jobs, income and growth, and people have rightly punished this inaction many times.
The Congress on Wednesday flagged concerns after the India-EU free trade pact was sealed, including the Narendra Modi government's "failure" to secure an exemption for India's aluminium and steel makers from the EU's Carbon Border Adjustment Mechanism and tariff reduction or relief on over 96 per cent of the bloc's exports to India.
Congress general secretary in-charge communications, Jairam Ramesh, said there are also concerns about the EU's strict health and product safety rules, which will continue to be in force over Indian exports even after the FTA, as well as the concern about India's largest export to the EU -- refined fuels.
In a point-by-point rebuttal, Goyal said it puzzles him that when the whole world is calling it the "mother of all deals", Ramesh thinks it is hugely hyped. "Is the combined GDP of USD 25 trillion, combined global trade of USD 11 trillion and a common market of 2 billion people, USD 33 billion of India's labour-intensive exports going to zero on day 1 a hype? What is also unfortunate is that my friend missed a basic fact that we are both largely complementary economies," he wondered.
The minister also said that India has taken up the issue of CBAM (carbon border adjustment mechanism), the interests of domestic exporters in steel, aluminium and all other sectors like no one ever has, and identified pathways to find solutions."We have found creative ways of handling these complex and sensitive subjects through dialogue, trust and support with our partners rather than 'my way or highway only' kind of immature, illogical and rigid positions," he said.





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