Tuesday, June 22, 2021
Home News Reports Piyush Goyal slams Sonia Gandhi over her remarks on RCEP and FTAs, reminds her...

Piyush Goyal slams Sonia Gandhi over her remarks on RCEP and FTAs, reminds her of UPA’s record on the issue

According to the government, this agreement will be beneficial for India. Data provided by the government show that India's trade deficit was on a rise due to FTAs signed by previous governments.

In a series of tweets, Union Minister for Railways and Commerce & Industry Piyush Goyal came down heavily upon Congress President Sonia Gandhi for her remarks against the proposed Regional Comprehensive Economic Partnership (RCEP) and Free Trade Agreement (FTA) between India and China.

Sonia Gandhi had said such an agreement between the two countries would deal a body blow to the Indian economy. “We can ill-afford to become a dumping ground. India being made a dumping ground of Chinese goods is catastrophic. In the past 72 years, no country has signed FTA with China,” she had said.

Piyush Goyal questioned the UPA government for joining RCEP talks with China in 2011-12. He said that the Congress supremo has only now awakened to RCEP and FTAs. He highlighted the fact that India already has FTAs with ASEAN countries, Malayasia, South Korea and Japan.

Piyush Goyal also reminded Sonia Gandhi that the UPA government itself had explored the possibility of an FTA with China in 2007. He also slammed the erstwhile government for opening up 74% of the Indian market to a richer country like Indonesia while they had opened up only 50% of their own market to India.

Piyush Goyal also emphasized the fact that the government will make a decision based on what is best for India. He reiterated that it must be a “win-win” situation for both countries and the government will make any decision based on the interests of the Indian people.

Opposition leaders are criticising the government’s move to sign Free Trade Agreement under RCEP. The RCEP is a proposed free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN) ( Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) and its six FTA partners (China, Japan, India, South Korea, Australia and New Zealand).

According to the government, this agreement will be beneficial for India. Data provided by the government show that India’s trade deficit was on a rise due to FTAs signed by previous governments. Officials have pointed out that India’s trade balance is turning more unfavourable for most FTAs. It has doubled since 2011 to Rs 12.86 trillion in 2018-19.

The proposed deal seeks to reverse this trend. For example, during a meeting earlier in October, India had negotiated a 10% advantage over China for tariff removal. This advantage for India will mean that its exporters can access 10% more Chinese product lines without facing tariff barriers. Union government has been assuring that the interests of the domestic industry will be given priority while negotiating the RCEP.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

‘Degenerate’ Imran Khan does it again, blames women for rising sexual violence in Pakistan

Pakistan PM Imran Khan held women's clothes responsible for the sexual violence committed against them

India secures milestone in Coronavirus vaccination drive, administers over 82 lakh doses in a single day: Details

CoWIN app showed that Madhya Pradesh administered a whopping 13,71,180 lakh vaccine doses alone on Monday.

Sister Lucy was dismissed from Church by the Vatican for writing poems, driving a car: Read the startling claims made

The Vatican was also miffed after Sister Lucy wrote a memoir, hinting at sexual abuse with the Church clergy.

Calcutta High Court rejects Mamata Banerjee govt plea, NHRC to investigate post-poll violence in state

West Bengal government had applied to the court to recall the order passed by the court while hearing a bunch of PILs alleging assault including sexual abuse during post-poll violence in the state.

Amarnath Yatra cancelled amid Chinese coronavirus pandemic, devotees can do darshan online

The Amarnath Yatra, holy pilgrimage for Hindus, has often been a target of terror attacks in the past.

International Yoga Day: How ‘a way of life’ argument is used to peddle ‘Yoga is not Hindu’ propaganda

On International Yoga Day, motivated individuals attempted to appropriate Yoga and disassociate it from Hinduism.

Recently Popular

Republic TV issues statement over Arnab Goswami’s disappearance from the news network: Here is what they said

Arnab Goswami was last seen on May 2 during a discussion on West Bengal assembly polls. He will make a return on Monday.

Who is Vishal Jood? An Indian national arrested for taking on Khalistani extremists in Australia

Vishal Jood, the 24 yar old from Haryana, has been languishing in a jail in the down in the country for two months now.

Kerala madarsa teacher preaches “kill the ones who leave Islam” while taking online lecture for class 12 students

Kerala madarsa teacher caught encouraging class 12 students to take to violence against those who quits Islam as religion.

OBC benefits for Muslims: How WB Police’s recruitment drive has exposed how parties found a way to make religious reservations

The drive was meant to fill vacancies in the OBC-A category in the state. The list showed that apart from one or two individuals, all of them were Muslims.

How Venkatesh Prasad is winning hearts with his ‘Sanghi’ posts, one tweet at a time

Venkatesh Prasad demonstrated the Surya Namaskar for his followers, performed in deference to the Sun God.
- Advertisement -

 

Connect with us

255,564FansLike
555,159FollowersFollow
24,400SubscribersSubscribe