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Congress labels key pact as surrender, alleges government secrecy | India News

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Congress slams the India-US trade framework as a “surrender,” alleging it’s tilted toward the U.S. and raises concerns for Indian farmers and unspecified “additional products.”

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2 minutes, 20 seconds.

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Congressional Opposition to India-US Trade Framework Intensifies

The recently announced India-US trade deal interim framework is facing sharp criticism from India’s main opposition party, the Congress. Senior leaders have labeled the pact a “surrender” and expressed significant concern over its potential impact, particularly on the agricultural sector. Congress MP Jairam Ramesh took aim at Commerce Minister Piyush Goyal’s statements, calling them “too clever by half,” and highlighted a critical vagueness in the joint statement. The document mentions India will eliminate or reduce tariffs on a list of products, including “additional products.” Ramesh argued this unspecified category is “too open-ended and shows that something is being hidden,” signaling that more disputes could arise when finer details are revealed.

Debate Over the Deal’s Substance and Balance

Adding a technical critique, former Finance Minister P Chidambaram clarified that the nations have not reached a final trade agreement, nor even an interim one, but merely a “framework of an interim agreement.” He emphasized the perceived imbalance in the current terms, stating bluntly, “The framework deal is heavily tilted in favour of the US and the asymmetry is obvious.” This sentiment was echoed by Congress spokesman Pawan Khera, who issued a stark warning that the deal would “break farmers’ backs in the future,” tapping into deep-seated anxieties within India’s vast agricultural community about foreign competition and market access.

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This political pushback creates immediate headwinds for the Bilateral Trade partnership between Washington and New Delhi. While the US-India economic relations have been a cornerstone of strategic partnership, domestic political friction in India remains a key factor. The controversy underscores the complex negotiations behind any international trade deal, where domestic sensitivities, especially in agriculture, can swiftly become a major political issue. The Congress party’s aggressive stance sets the stage for a contentious domestic debate as the framework moves toward a more concrete agreement.

Short Summary:

India’s Congress party has launched a strong political attack on the new India-US trade framework, calling it a lopsided “surrender.” Key figures like Jairam Ramesh and P Chidambaram criticize its vagueness—particularly on “additional products”—and assert it favors U.S. interests, warning of severe future consequences for Indian farmers. The opposition’s stance highlights the domestic challenges facing the bilateral trade partnership.

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Ishaquehttps://finoark.com
A Finance Enthusiast which has innovative approach to almost every observations made. IRDAI - Certified Insurance Seller (Life, Health & General Insurance), NISM - Certification in AML/KYC. Pursuing Certification for Investment Advisory and MF Distribution).

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