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Jitin Prasada
India negotiates free trade agreements with nations on an equal footing with adequate firmness, as the country has changed under the leadership of Prime Minister Narendra Modi, Minister of State for Commerce and Industry Jitin Prasada said on Wednesday. He said that India's economic growth is progressing rapidly. "When we do FTAs with different countries...we talk on equal footing. This is the new India. We put forth our point of view forcefully," he said. The minister was speaking at the inauguration of the newly-expanded ISA building of the Intellectual Property Office (IPO) in Dwarka here. His remarks come at a time when India is negotiating trade pacts with a number of countries including the US, European Union, Peru, Chile and New Zealand. With the US, five rounds of talks have been held so far. India has clearly stated that it can not compromise on agri, and dairy sectors, a key demand of the US. Inaugurating the building, Commerce and Industry Minister Piyush Goyal said .
The government has recognised more than 1.8 lakh firms as startups as on June 30, 2025, Parliament was informed on Tuesday. The recognised startups are eligible for a number of fiscal incentives, including income tax benefit announced under Startup India action plan. "Since the launch of the Startup India initiative, number of entities recognised as startups by Department for Promotion of Industry and Internal Trade (DPIIT) has increased from around 500 in 2016 to 1,80,683 as on 30th June 2025," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. Under Startup India initiative, the government is implementing flagship schemes, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to provide funding opportunities and support startups at various stages of their business cycle. He added that Alternative Investment Funds (AIFs) supported under the FFS have invested Rs 23,6
India and the US have a continuous dialogue and communication on the bilateral trade deal and the first tranche is set to roll out by fall this year, Minister of State for the Ministry of Commerce & Industry and the Ministry of Electronics & Information Technology Jitin Prasada said. Prasada made these remarks while addressing members of the Indian-American community at an interactive session organised by the Consulate General of India in New York on Friday. India and the US share a great relationship, and there is continuous dialogue and communication between both countries. The last dialogue that Prime Minister (Narendra) Modi and President (Donald) Trump had, the formalities and modalities of the bilateral trade agreement have been worked out, and by September, this fall, you will see the first tranche of our programme and policies, Prasada said. At the beginning of the event, a moment of silence was observed to pay respects to the victims of the Pahalgam terror attack in ..
There has been a 47.5 per cent increase in exports of fruits from India in the last five years, the government on Friday informed the Rajya Sabha. Replying to supplementaries during question hour, Minister of State for Commerce and Industry Jitin Prasada said the free trade agreements with the UAE and Australia have also helped increase exports of fruits to the UAE and Australia by 27 per cent and six per cent, respectively. "As far as fruits export goes, there has been increase of 47.5 per cent in the last five years. Major fruits exported from India are mangoes, grapes, bananas, apple, pineapple, pomegranate and watermelon. "I can assure you that the government is leaving no stone unturned to ensure that our fruits and food supply through exports is ensured," he said in the Rajya Sabha. The minister assured the members that the government is doing everything to ensure the quality of our products and fruits are of international standards, and pesticide level is very low. "Because
India's 'AI for All' mantra is backed by concrete action with the country leading in AI skill penetration and talent concentration, Union Minister Jitin Prasada said on Thursday as he urged industry leaders to prioritise research and development (R&D) to capitalise on India's position as a global skill capital. Prasada, Union Minister of State for Ministry of Commerce & Industry and Ministry of Electronics & Information Technology, was delivering a keynote address at the Nasscom Global Confluence 2025 here. "Our mantra 'AI for All' is backed by concrete action. India is number one in the world in AI skill penetration -- the AI skill index even outstrips the US and Germany. "It's just not about numbers, it's about impact. As nations across the globe embrace digitalisation to modernise traditional sectors and fuel economic growth, India stands ready to be a strategic technology partner," the minister asserted. Stressing that India is open for business and ready to lead, ...
India and the US are planning to negotiate a trade agreement and both countries will focus on increasing market access, reducing import duty and non-tariff barriers, and enhancing supply chain integration, Parliament was informed on Tuesday. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said that as on date, reciprocal tariffs have not been imposed by the US on India. "Both countries plan to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement. Both countries would focus on increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration," he said. The US issued Memorandum on Reciprocal Trade and Tariffs on February 13, wherein the Secretary of Commerce and United States Trade Representative are to take necessary actions to investigate harm to America from any non-reciprocal trade arrangements adopted by trading partners and provide a report with detailed proposed remedies fo
President of Singapore Tharman Shanmugaratnam arrived here on Tuesday night on a five-day visit that aims to further boost bilateral ties in a range of areas. Shanmugaratnam, accompanied by a high-level delegation, was received at the airport by Union Minister Jitin Prasada. It is his first visit to India as the Singapore president. "A special celebration of 60th anniversary of #IndiaSingapore diplomatic relations. President @Tharman_S of Singapore arrives in New Delhi on a State Visit," External Affairs Ministry spokesperson Randhir Jaiswal said on 'X'. On Thursday, Tharman will be accorded a ceremonial welcome at the Rashtrapati Bhavan. In the evening, he will hold discussions with President Droupadi Murmu following which Prime Minister Narendra Modi will meet him. The Ministry of External Affairs (MEA) said Tharman's visit is expected to provide further momentum to the bilateral relations. "President Tharman's visit is expected to provide further momentum to bilateral relatio
The government plans to set up data and AI labs in tier 2 and tier 3 cities across the country and has invited proposals from all 36 states as well as Union Territories for the same, Parliament was informed on Friday. Minister of state for electronics and IT Jitin Prasada in a written reply to Rajya Sabha said that besides proposals expected from states and UTs, IndiaAI in collaboration with NIELIT also plans to establish 27 data labs in Tier 2 and Tier 3 cities across the country. "All the 36 states and Union Territories (UTs) have been requested to submit their nominated list of Industrial Training Institutes (ITIs)/Polytechnics located in Tier 2 and Tier 3 cities for the setting up of data labs. Additionally, IndiaAI in collaboration with NIELIT plans to establish 27 data labs in Tier 2 and Tier 3 cities across the country," Prasada said. The data and AI labs are part of the skilling initiative of the government under IndiaAI mission. The minister said that a model IndiaAI Data
Union Minister Jitin Prasada on Monday asserted the vision to develop artificial intelligence (AI) in India, for India, and all, and said the country is poised for an AI revolution. Prasada, Minister of State for Electronics & Information Technology, in a keynote address at the India Internet Governance Forum (IIGF) 2024, said India is not only the largest democracy, but also a vibrant digital economy setting new benchmarks for innovation and inclusivity. He said discussions today should not only focus on addressing the challenges of internet governance but also on exploring transformative solutions. "Artificial intelligence is a cornerstone of these transformative solutions. Our vision is to make AI in India and make AI work for India, as well as AI for all. Today, India is placed for a transformative AI revolution," he said. The minister quoted Prime Minister Narendra Modi, "If earlier, human civilisations were based around rivers and oceans, then later around highwaystoday's ...
India is revising FTAs with South Korea, Malaysia and various other ASEAN countries to benefit the domestic industries, Union Minister of State for Ministry of Commerce and Industry Jitin Prasada said on Monday. At the 64th annual session of ACMA (Automotive Component Manufacturers Association) here, he noted that the free trade agreements (FTAs) with the UK and the European Union are being spearheaded by Prime Minister Narendra Modi. "It will play a great role for the auto components industry," the minister said. He further said: "We are also revising and reworking our FTAs with Korea, with Malaysia, with ASEAN countries, which will be fine-tuned to the demands of our industry." Prasada also urged the auto components industry to increase investment in R&D activities. "We are not investing enough in R&D, I believe this is 1 per cent of the revenue that is being invested so this is very crucial," he noted. He also emphasised the importance of boosting exports, reducing import ..
Foreign direct investment inflows in the manufacturing sector during 2014-24 rose by 69 per cent to USD 165.1 billion, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said that India is rapidly emerging as a preferred country for foreign investment in the manufacturing sector " FDI equity inflow in the manufacturing sectors in the last ten financial years (2014-24) has increased by 69 per cent to USD 165.1 billion as compared to USD 97.7 billion in the previous ten financial years (2004-14)," he said. He also said that the total FDI inflow of USD 383.50 billion has been reported in the country during the past five financial years (2019-20 to 2023-24). Replying to a separate question, he said that the initiatives taken by the Government have led to a decline in dependency on imports in several sectors including mobiles. The import of mobile phones has decreased from Rs 48,609 crore in 2014-15 to Rs