Classic fear-mongering, should stop selling panic: BJP slams Rahul Gandhi over ‘economic tsunami’ remark
Despite facing multiple black swan events, India has continued to remain the world’s fastest-growing major economy, Amit Malviya said.
Rahul Gandhi claimed that tariff concessions to Bangladesh on the country’s textile exports and sourcing clauses in India–US deal may damage both India’s cotton farmers and textile businesses.
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Leader of Opposition Rahul Gandhi on Saturday launched a scathing attack on the Narendra Modi-led NDA government over the India-US trade deal, alleging that the Prime Minister and his cabinet were “spreading confusion” over the 18 per cent tariffs and “cheating” India’s cotton farmers and textile exporters.
In a video statement posted on X, Rahul claimed that the US levied an 18 per cent tariff on Indian garment exports under the interim trade agreement, while neighbouring Bangladesh is being given a zero-tariff benefit on the same. “Bangladesh is being given 0% tariff benefit on garment exports to the US — the only condition is that they import American cotton,” Rahul said.
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The Congress leader further stated that when he raised the issue in Parliament, a minister from the Modi Cabinet replied, “If we also want the same benefit, we will have to import cotton from America.”
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“Why was this fact hidden from the country till now?” Rahul asked as he slammed the US policy of imposing tariffs and granting concessions. “Is this really any kind of choice — or is it a trap designed to push us into a ‘well in front, ditch behind’ situation?”
The LoP highlighted that both outcomes will hurt Indian interests. “If we import American cotton, our own farmers will be ruined. If we don’t import it, our textile industry will lag behind and get destroyed.”
‘Attack on cotton farmers and the textile sector may push millions into the pit of unemployment’
Stressing that the textile industry and cotton farming are the backbone of livelihood in India, Rahul claimed that Bangladesh is also giving signals that it may reduce or even stop importing cotton from India.
“Crores of people’s daily bread depend on these very sectors. Attacking these sectors means pushing millions of families into the pit of unemployment and economic crisis,” the Congress leader said.
He said that a government that thinks in the national interest would have negotiated a deal that protects and ensures the prosperity of both cotton farmers and textile exporters, alleging that the Modi government has done exactly the opposite.
“Narendra “Surrender” Modi and his ministers have made an agreement that is likely to inflict deep damage on both sectors,” he added.
The India-US trade deal announced earlier this month by US President Donald Trump has prompted severe criticism from the Rahul Gandhi-led Opposition. While the government has lauded the deal as a major achievement of Prime Minister Narendra Modi, the Opposition has flagged some concerns, particularly for the agriculture sector and India’s strategic energy imports.
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