India-US trade deal | 'Absolute nonsense': Piyush Goyal on Oppn's allegations

Union Minister of Commerce and Industry Piyush Goyal on Sunday said that the India and US trade deal is a result of intense negotiations from the two parties, in the "best interests of India's goal of Viksit Bharat 2047."

Responding to a question on allegations of the deal being an effort of surrendering the nation's sovereignty, Goyal said that the deal is a labour of love, and the ones who are spreading this perspective are "pretty ignorant". He termed the allegations as "absolute nonsense". The opposition has been targeting the ruling BJP over the trade deal claiming that it would hurt local sellers and farmers.

"Absolute nonsense. Whoever is articulating this must be a pretty ignorant person who doesn't understand that this trade deal is truly a labour of love. It has come out of intense negotiations on both sides, in the best interests of our country's stated goal to become a developed and prosperous country by 2047 - Viksit Bharat 2047," he told ANI.

He further said, "It will provide immense opportunities for our youth, our sisters, our women, huge opportunities for our farmers and fishermen, our MSMEs will flourish, they will become the provider of a lot of material that is required by the USA, our textile sector, our footwear and leather sector, our toys sector, handloom, handicraft, auto components, furniture. Sky is the limit."

He further termed this partnership as one with unlimited potential, catering to the development of various sectors and enhancing trade.

Earlier in the day, the minister confirmed that India will have no problem in purchasing goods worth $500 billion from the US over the next five years, stating that the nation's growing economy will generate a demand of estimated $2 trillion.

Goyal also assured that sufficient safeguards are set in place with the US to protect the interests of farmers and the domestic industry from any significant increase in imports.