New Delhi: The Congress party has taken a swipe at Prime Minister Narendra Modi following the announcement of a framework for an interim trade agreement between India and the United States. The opposition alleged that the proposed deal is skewed in favour of the US and may undermine India’s trade interests.

Congress general secretary in charge of communications Jairam Ramesh said that although the US-India joint statement lacks detailed disclosures, available information suggests significant commitments from India. He claimed that India would no longer import oil from Russia and noted that the US has indicated a 25 per cent penalty could be reimposed if India purchases Russian oil directly or indirectly.

Referring to a White House release, Ramesh said the US would monitor India’s oil imports from Russia. In a post on X, he wrote that accepting such monitoring was “truly extraordinary” and used the phrase “Naam Narender, Kaam Surrender” to criticise the government.

Ramesh also alleged that India would slash import duties to benefit American farmers at the expense of Indian farmers. He claimed that India’s annual imports from the US would triple, potentially eroding the current goods trade surplus of around USD 45 billion and turning it into a deficit. He further said there remains uncertainty regarding India’s IT and services exports to the US and alleged that Indian goods exports could face higher duties than before.

“All the hugs and photo-ops have not amounted to much. Namaste Trump has scored over Howdy Modi,” Ramesh said, adding “Dost dost na raha,” referencing a song from the 1964 film Sangam.

Speaking to PTI Videos, Ramesh described the pact as a “statement of intent”, noting that detailed provisions are yet to be announced and are expected in the coming months. He also alleged that the government engaged in “headline management” amid opposition criticism in Parliament on other issues.

Meanwhile, India and the US on Saturday announced that they had reached a framework for an interim trade agreement aimed at boosting bilateral trade through reduced import duties on several goods. The two countries said they would promptly implement the framework and work towards finalising the interim agreement as a step towards a broader Bilateral Trade Agreement (BTA).

Prime Minister Narendra Modi welcomed the development, stating that the agreement would strengthen the ‘Make in India’ initiative by creating opportunities for farmers, entrepreneurs, MSMEs, start-ups and fishermen. He said the pact would generate large-scale employment for women and young people and thanked US President Donald Trump for his commitment to strong bilateral ties.

Under the interim agreement, the US has removed the 25 per cent additional tariffs imposed on India last August over purchases of Russian oil, citing what it described as “significant steps” taken by India and a commitment to stop directly or indirectly importing oil from Moscow.

According to the joint statement, US duties on Indian goods will be reduced to 18 per cent from 50 per cent earlier, opening access to what has been described as a USD 30 trillion market for Indian exporters, particularly MSMEs, farmers and fishermen.

In return, India will eliminate or reduce tariffs on US industrial goods and a range of American agricultural products, including dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, among others.

While the government has presented the framework as a mutually beneficial step towards deeper economic cooperation, the Congress maintains that the final impact of the deal will depend on the detailed terms once they are formally announced.
(With PTI inputs)