Commerce and Industry Minister Piyush Goyal on Thursday criticised Lok Sabha Leader of Opposition Rahul Gandhi, accusing him of making "false claims" in Parliament regarding India-US Trade Deal.
Speaking to reporters in New Delhi, Goyal said Gandhi had "spread another lie in Parliament" by claiming that Bangladesh benefits more than India under existing trade agreements. Goyal dismissed the allegation and asserted that India enjoys the same zero‑reciprocal‑tariff facility that Bangladesh receives when it processes raw materials whether sourced from the US or elsewhere, and exports finished textile products. Goyal said the mechanism will apply to India as well under the evolving trade architecture:
"He spread another lie in the Parliament that Bangladesh has got more benefits from the trade than India. Just as Bangladesh has a facility that if raw material is purchased from America, then if you process it and make cloth and export it, then it will be available at zero reciprocal tariff. India also has the same facility and India will also get it, Goyal told news agency ANI.
According to Goyal, finalisation of the agreement will significantly expand India's export footprint across major global markets, including the United States, European Union, United Kingdom, Switzerland, Norway and Australia. He claimed this would directly benefit Indian farmers, MSME workers, fisherfolk and traditional artisans under the Vishwakarma sector.
Goyal said India's current exports of Rs 5 lakh crore could potentially double. "The Rs 5 lakh crore that we export today will become an export of Rs 10 lakh crore... Rahul Gandhi should apologise to the farmers of India, fishermen, workers working in MSME and Vishwakarmas...," Goyal said.
Bangladesh has secured a reduced 19% tariff under a trade agreement with the United States that would exempt some textiles and garments manufactured with US materials, while the US lowered tariffs to 18% from 50% for India, which led to the assumption that India would seamlessly gain market share from Bangladesh no longer holds.
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