Manas Dasgupta
NEW DELHI, Feb 7: The BJP on Saturday slammed the Congress for finding loopholes in the India – US Trade deal that odds were “stacked heavily against India” while claiming that it would “significantly benefit” the country.
The BJP also wondered why the Congress was “always opposing the country’s economic growth” under the leadership of the Prime Minister Narendra Modi.
The ruling party’s retort came after the Congress took a swipe at Mr Modi over the interim trade agreement with the US claiming that under the deal, the odds were stacked heavily against India and all the “huglomacy and photo-ops” have not amounted to much.
In a post on X, Congress general secretary in-charge of communications Jairam Ramesh also took a dig at the Prime Minister with the “Naam Narender, Kaam Surrender” barb, citing a White House release that said Washington would now monitor whether India was importing oil from Russia.
Hitting back at Mr Ramesh, BJP national spokesperson Pradeep Bhandari claimed that the Congress was clearly uncomfortable seeing India emerge as a global deal-maker under Modi’s leadership. “Why does Congress always oppose the progress of India’s MSMEs, farmers, and the growth of the Indian economy?” Mr Bhandari asked in a post on X.
“Congress cannot digest that under PM Narendra Modi India has sealed both the ‘Mother of all Deals’ with the EU and now the ‘Father of all Deals’ with the USA, creating a $30 trillion economic opportunity for our farmers, exporters, and MSMEs,” the BJP leader said.
Mr Ramesh has flagged five major concerns from the trade deal across Russian oil, agriculture, IT sectors etc. India and the US released a joint statement on the agreement on Saturday with the Commerce Minister Piyush Goyal tweeting that the said agreement would open a $30 trillion market for Indian exporters. He said the statement hinted that India would be halting oil purchase from Russia to meet the US president’s demand. “From what has been revealed, it is clear that: India will no longer import oil from Russia. Separately, the US has announced that a 25 per cent penalty could be re-imposed if India buys oil directly or indirectly from Russia,” he said.
He claimed that, according to the statement, India would slash import duties to help American farmers at the cost of Indian farmers. “India’s annual imports from the USA will triple, wiping out our longstanding goods trade surplus. There will continue to be great uncertainty on India’s exports of IT and other services to the US. India’s exports of goods to the US will face higher duties than before,” Ramesh said.
Another BJP spokesperson Sambit Patra said the agreement would significantly benefit the micro, small and medium enterprises (MSMEs), farmers and fishermen, while creating new employment opportunities for women and youngsters across the country.
“Under the visionary leadership of PM Narendra Modi, India has reached a framework for an Interim Trade Agreement with the United States, opening access to a nearly $30 trillion market for Indian exporters,” he said. Mr Patra said a major outcome of the framework was the reduction of reciprocal tariffs on Indian goods to 18%, along with a zero-tariff access in key sectors, such as generic pharmaceuticals, gems and diamonds and aircraft parts.
“Together, these steps strengthen India’s export competitiveness, boost Make in India and expand opportunities for sectors ranging from textiles and leather to chemicals, machinery and artisanal products,” he said. The BJP leader further said that equally important was the clear protection extended to India’s sensitive agriculture and dairy sectors, ensuring that farmers’ interests and rural livelihoods remain fully safeguarded even as the global trade expands.
“This agreement reflects the growing strength of India-US economic partnership and a shared commitment to sustainable growth, innovation and prosperity for our people as we move forward on the path of Viksit Bharat,” he added.
Commenting on the development, PM Modi said the agreement would strengthen the “Make in India” initiative by opening up new opportunities for farmers and entrepreneurs, and create jobs for women and youngsters. The prime minister also thanked Trump for his personal commitment to robust ties between India and the US.
“Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations,” Modi said in a post on X. “It strengthens ‘Make in India’ by opening new opportunities for India’s hardworking farmers, entrepreneurs, MSMEs, startup innovators, fishermen and more. It will generate large-scale employment for women and youngsters,” the prime minister said.