The Bharatiya Janata Party (BJP) has retaliated against Congress leader Rahul Gandhi’s accusations regarding the stock market, dismissing them as attempts to mislead investors. Union Commerce Minister Piyush Goyal addressed a press conference, countering Rahul Gandhi’s claims and highlighting India’s economic growth under Prime Minister Narendra Modi’s leadership.
Piyush Goyal accused Rahul Gandhi of attempting to sow fear among investors, emphasizing India’s ascension to the position of the fifth-largest economy. He refuted Rahul Gandhi’s assertions of a stock market scam, citing the significant increase in market capitalization over the past decade.
During the press conference, Piyush Goyal underscored the growth of India’s mutual fund industry and the substantial participation of retail investors in the stock market. He praised India’s well-regulated market environment and highlighted the resilience of Indian investors during market fluctuations.
Piyush Goyal also addressed foreign portfolio investors’ recent activities in the Indian stock market, emphasizing Indian investors’ ability to capitalize on market movements. He dismissed Rahul Gandhi’s call for a Joint Parliamentary Committee (JPC) probe into the alleged stock market scam, asserting that Indian investors had not suffered losses despite market volatility.
The BJP’s response comes amidst heightened scrutiny of the stock market following the Lok Sabha election results. Despite initial market fluctuations, Piyush Goyal expressed confidence in India’s economic stability and the resilience of its investors.
