"The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling," Goyal told PTI
The minister added that though at present the US is attractive for investors because of high interest rates, going forward India provides huge opportunities for businesses
Goyal was attending the G7 Trade Ministers' meeting in Italy to discuss ways to enhance global trade relations and economic cooperation
He added that the industry is not seeking any financial assistance and just needs a good regulatory ecosystem like taxation and how returned goods will be treated
Goyal encouraged Swiss companies to become part of India's growth story and invest in its growing and dynamic market
Commerce and Industry Minister is in Switzerland regarding implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA)
He also said that growth in the services sector is helping the country's outbound shipments to register positive growth rates
Reggio Calabria is a coastal city in southern Italy. The Group of Seven (G7) industrialised nations are Canada, France, Germany, Italy, Japan, the UK, and the US
Sales of EVs during April-June contracted 7 per cent year-on-year to 346,024 units, data from the Ministry of Road Transport and Highways' VAHAN portal showed
The minister's visit to Switzerland will also see discussions on the ratification of the trade deal by both sides
Keir Starmer became Britain's Prime Minister on Friday after his Labour Party's landslide electoral victory against Rishi Sunak-led Conservatives
Commerce and industry minister also announced 80 per cent concession for women entrepreneurs and 50 per cent for MSMEs in licensing fees for licences granted by PESO
Goyal said that technological progress in the drone industry will help combat erratic weather patterns and assist farmers in getting higher quality and higher quantity yields
Interacting with industry leaders in Hyderabad on Sunday, the minister said such interactions are key for understanding the challenges faced by the industry and policy-making
They "requested to extend support to tobacco exporters by including them under the Rodtep scheme," the ministry said in a statement
'Hope to make progress in India-UK FTA irrespective of elections'
Federation of Indian Export Organisations (FIEO) president Ashwani Kumar highlighted that the scheme has so far benefitted not only MSMEs but also merchant exporters and large manufacturing companies
Exporters asked the government to firm up a strategy to deal with the issue of non-tariff barriers imposed by trade partners that ultimately hurts India's exports
Of the six assembly constituencies under the Mumbai North Lok Sabha seat, the BJP won four in the 2019 elections, while the Shiv Sena and Congress bagged one seat each
Goyal was convening a review meeting with senior officers from the commerce and industry department