New Delhi, Jun 6 (IANS): Commerce and Industry Minister Piyush Goyal replied sharply to Congress leader Rahul Gandhi's 'biggest stock market scam' charge on Thursday, saying the latter was conspiring to mislead the investors as he and his party were not able to 'digest' the 2024 poll debacle and were 'anxious' over formation of Prime Minister Narendra Modi-led government for the record third time.

Holding a presser soon after Rahul Gandhi's charge, Piyush Goyal said that the absurd allegations by the Congress leader showed that he had not recovered from the disappointment of defeat in the Lok Sabha elections.

He further said: "Rahul Gandhi looks worried about the Modi government coming into power for a third term. That is why he is trying to confuse foreign and domestic investors with his statements."

Rahul Gandhi along with other Congress leaders held a press conference on Thursday and demanded a Joint Parliamentary committee (JPC) probe into the tailspin in markets while terming it as the 'biggest stock market scam'.

Piyush Goyal highlighted that India has become the fifth-largest economy in the world and is slated to become the third-largest in the third term of Modi government.

"In last 10 years, our market cap crossed $5 trillion for the first time. Ten years ago, during the Congress-led UPA regime, the country's market cap stood at only 67 lakh crore. Modi government took it to Rs 415 lakh crore in the 2014-2024 period," Piyush Goyal said.

He said that plenty of retail investors benefited due to the increase in market cap and this has left the Opposition unnerved and apparently prompting it to make baseless and unwarranted charges.

The Union Minister also questioned the stance of the Congress on its slew of poll promises while mentioning that many women were gathering outside its offices to seek financial assistance, as promised during the campaign.