Union Commerce and Industry Minister Piyush Goyal said Indians have paid an immense cost for this lost opportunity and the country has lost valuable jobs, revenue and growth and people have rightly punished this inaction many times over. File | Photo credit: ANI
Commerce and Industry Minister Piyush Goyal on Wednesday (Jan 28, 2026) slammed the Congress for raising concerns about the India-EU Free Trade Agreement, saying the pact is not a zero-sum deal but a win-win pact that will boost the country’s economic growth and create huge opportunities for businesses and people.
Congress on Wednesday (Jan 29) flagged concerns after the India-EU free trade pact was struck, including the Narendra Modi government’s “failure” to secure an exemption for Indian aluminum and steel makers from the EU’s carbon cap adjustment mechanism and cuts or concessions on more than 96 percent of the bloc’s exports to India.
Congress general secretary in charge of communications Jairam Ramesh said there were also concerns about strict EU rules on health and product safety that would continue to apply to Indian exports after the FTA, as well as concerns about India’s biggest export to the EU – refined fuels.
Responding to Mr. Ramesh’s remarks on social media, Mr. Goyal said that it is interesting to see that those who could not take decisions because they had no connection with people on the ground are today making a virtue of doing nothing.
Also read | Mature and Pragmatic: On the India-EU Free Trade Agreement
The minister said that Indians have paid an immense cost for this lost opportunity and the country has lost valuable jobs, income and growth and people have rightly punished this inaction many times over.
“I just hope my friend gets rid of this negative and pessimistic attitude that fails to see how our aspiring people are trying to go out and do business with the world. Let’s work to open up opportunities for them instead of acting as obstacles to their pursuit of prosperity,” Mr Goyal said on X.
In a point-by-point rebuttal, Mr Goyal said he was confused that when the whole world called it the “mother of all deals”, Mr Ramesh thought it was highly hyped.
“Is a combined GDP of $25 trillion, a combined global trade of $11 trillion and a common market of 2 billion people, $33 billion of labor intensive Indian exports going to zero on day 1? It’s also unfortunate that my friend missed the basic fact that we are both largely complementary economies,” he wondered.
“This is not a zero-sum deal, but a win-win deal that will boost our economic growth and create lots of opportunities for our businesses and people,” he added.
The Minister also said that India has taken up the issue of CBAM (Carbon Boundary Adjustment Mechanism), the interests of domestic exporters in steel, aluminum and all other sectors like no one before and identified avenues to find a solution.
Also read | India-EU FTA to create new job opportunities for youth: President Murmu
“We have found creative ways to deal with these complex and sensitive issues through dialogue, trust and support with our partners rather than ‘my way or the highway’ as immature, illogical and rigid attitudes,” he said.
He added that the pact is a long-term strategic commitment based on trust and mutual respect that will strengthen trade routes.
“I hope my friend can spend more time understanding the auto sector and what we intend to do. Our quota offer targeting the premium segment and phased auto offer (with a time lag of 5 years for EVs from EIF) is aimed at supporting the Make in India brand,” he said.
Liberalizing CKD (completely knocked down) imports will encourage EU OEMs to set up local assembly lines, he said, adding that it serves as a springboard to move foreign OEMs from “import” to “assembly” and eventually to “full localization” as they build local supply chains.
“This brings superior manufacturing processes, quality standards and advanced R&D practices to the Indian ecosystem. It will also create new demand, which will benefit consumers by expanding choice with faster access to global models. It also strengthens safety and technology standards,” said Mr. Goyal.
Published – 29 Jan 2026 02:40 IST
