Saturday, October 24, 2020
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

Farooq Abdullah, Mehbooba Mufti, Sajjad Lone come together to form ‘Gupkar Alliance’, vow to restore articles 370, 35A and statehood in Jammu & Kashmir

The in the Gupkar alliance seeks restoration of Articles 370 and 35A and also the statehood for Jammu and Kashmir

PM Narendra Modi inaugurates three key projects in Gujarat, calls it a symbol of strength, devotion and health

PM Narendra Modi virtually inaugurated three development projects related to agriculture, tourism and health in Gujarat today

Alt News selectively cites coronavirus statistics to criticise PM Modi alleging he used selective data

Alt News published an article alleging that PM Modi selectively cited coronavirus numbers to give a rosy picture of country’s fight against the pandemic

Arvind Kejriwal remains non-committal on making coronavirus vaccine free in Delhi

The reluctance of Arvind Kejriwal to clearly state the policy of his government on coronavirus vaccine in Delhi is puzzling.

‘Encounter specialist’ cop facing murder charges and reinstated by Param Bir Singh had joined Shiv Sena

Sachin Vaze, Pradeep Sharma, who were both 'encounter specialist' cops facing murder charges, were close to Mumbai CP Param Bir Singh

Radio Mirchi RJ finds space with radical preacher Zakir Naik as she waters down terms like ‘Kafir’ and ‘Jihad’

A video featuring Radio Mirchi RJ Sayema is doing rounds on the internet in which she was seen normalising anti-Hindu bigotry by legitimising the usage of radical Islamic terms as 'Kafir' and 'Jihad'.

Recently Popular

‘He supplies drugs and girls’: Estranged wife of Mahesh Bhatt’s nephew Luviena Lodh alleges harassment by nephew-uncle duo

Luviena Lodh said that Mahesh Bhatt is the don of the industry, and he controls everything that goes on in the film industry

Exclusive: Conversation that shows how Mumbai Police is trying to coerce witness into naming Republic TV in TRP scam

While Hansa Research report and the FIR filed named India Today in TRP scam, in less than 24 hours, Mumbai Police had seemingly made up its mind that Republic TV was the culprit

France: Charlie Hebdo cartoons projected on government building to express solidarity with deceased teacher who was beheaded by Islamic terrorist

Days after the barbaric beheading of teacher Samuel Paty on the streets of Paris by a terrorist for showing the cartoons of Prophet Mohammad to his students, support continues to pour in for the deceased teacher.

‘Jism ki garmi’: How Hindi film industry disregarded consent and normalised rape and molestation over the years

The Hindi film industry has, knowingly or unknowingly, convinced a generation of people that rape is normal when done in light of 'greater good'.

Lucknow: Jama Mazar caretaker ‘Kale Baba’ caught running sex racket, video goes viral

The caretaker has allegedly confessed to police that he was sexually exploiting women and engaging them in illicit activities in the name of curing infertility and other ailments.

Complaints filed against Eros Now and Arré for vulgar social media posts related to Navratri

Both Eros Now and Arre had published social media posts linking Navratri festival with sex and vulgarity
- Advertisement -

Farooq Abdullah, Mehbooba Mufti, Sajjad Lone come together to form ‘Gupkar Alliance’, vow to restore articles 370, 35A and statehood in Jammu & Kashmir

The in the Gupkar alliance seeks restoration of Articles 370 and 35A and also the statehood for Jammu and Kashmir

PM Narendra Modi inaugurates three key projects in Gujarat, calls it a symbol of strength, devotion and health

PM Narendra Modi virtually inaugurated three development projects related to agriculture, tourism and health in Gujarat today

Times of India hides identity of Dilbar Qureshi who posed as a Hindu man and kidnapped a minor Hindu girl in Delhi Love Jihad...

The Times of India report merely says that a 13-year old girl was kidnapped by a 25-year old man, hiding his identity completely

Alt News selectively cites coronavirus statistics to criticise PM Modi alleging he used selective data

Alt News published an article alleging that PM Modi selectively cited coronavirus numbers to give a rosy picture of country’s fight against the pandemic

Arvind Kejriwal remains non-committal on making coronavirus vaccine free in Delhi

The reluctance of Arvind Kejriwal to clearly state the policy of his government on coronavirus vaccine in Delhi is puzzling.

Mumbai: Body of missing Coronavirus patient recovered after 14 days from the hospital bathroom

The TB+Coronavirus patient had gone missing om October 4, but his body was recovered 14 days later on 18th inside a toilet in the hospital

Wife of UP police DIG who is member of the SIT formed in relation to Hathras case dies by suicide

Pushpa Prakash reportedly killed herself by hanging. The reason of suicide is not yet known.

Finance ministry issues guidelines for interest waiver scheme during the lockdown period- Read details

The govt will pay the difference between simple and compound interest from March to August under compound interest waiver scheme

‘Encounter specialist’ cop facing murder charges and reinstated by Param Bir Singh had joined Shiv Sena

Sachin Vaze, Pradeep Sharma, who were both 'encounter specialist' cops facing murder charges, were close to Mumbai CP Param Bir Singh

US Presidential elections: YouTube overwhelmed with political ads, sees a shortage of advertising space

YouTube has received so many ads for the US presidential elections in the same states that it can't find enough space to place them

Connect with us

245,563FansLike
467,761FollowersFollow
19,100SubscribersSubscribe