Goyal Slams Congress' "Sour Grapes" Criticism of Historic India-EU Trade Deal

Responding to the charges, Goyal said it was surprising to see criticism from those who could not take timely decisions when they were in power and had no connection with people on the ground.

He said the country had paid a heavy price for such inaction in the past.

Goyal in a social media post, stated, "Our country has lost valuable jobs, income and growth and people have rightly punished this inaction many times".

Answering to the claim of Jairam Ramesh thatthe agreement is "hugely hyped", Goyal said the deal brings together economies with a combined GDP of USD 25 trillion.

He said, "Is the combined GDP of USD 25 trillion, combined global trade of USD 11 trillion and common market of 2 billion people, USD 33 billion of India's labour-intensive exports going to zero on day 1 a hype?".

He added, "It is not a zero sum deal but a win-win deal which will power our economic growth and create plethora of opportunities for our businesses and people"

Congress leader Jairam Ramesh, in a social media post on Wednesday, raised concerns over CBAM, falling aluminium and steel exports, strict EU health and safety norms, IP issues, access to services, risks to the auto and EV sectors, and uncertainty over refined fuel exports sourced from Russia.

On concerns related to the Carbon Border Adjustment Mechanism (CBAM), Goyal said the government has taken up the issue of exporters' interests in steel, aluminium and other sectors like no one ever has.

He said India has identified pathways to address these complex issues through dialogue, trust and cooperation, rather than rigid positions.

On automobiles, Goyal said the quota-based, premium-segment-focused and phased auto offer, including a five-year time lag for EVs, is aimed at boosting Make in India. Liberalising CKD imports will encourage EU OEMs to set up local assembly, eventually leading to full localisation, advanced manufacturing, higher safety and better technology standards.

(CKD) Completely Knocked Down Kit, refers to a method where a vehicle is exported or imported as completely disassembled parts rather than a finished unit.

Addressing fears around regulations, Goyal said all countries, including India, retain the right to regulate for health and safety. He said such measures are disciplined under the agreement to ensure they do not become unjustified trade barriers.

On intellectual property rights, he clarified that obligations are similar to TRIPS (Trade-Related Aspects of Intellectual Property Rights) under the WTO, with emphasis on public health flexibilities, technology transfer, recognition of India's traditional digital knowledge library, and preservation of India's data exclusivity policy.

He also said concerns about refined fuel are linked to extraneous reasons and stressed that the India-EU FTA is a long-term strategic engagement based on trust and mutual respect.

- ANI