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Piyush Goyal
An interim trade agreement between India and the US is likely to be signed in March and operationalised in April, Commerce and Industry Minister Piyush Goyal said on Friday. He also said that India's free trade agreements (FTAs) with the UK and Oman are likely to be implemented in April. With New Zealand, the pact is expected to be implemented in September. A three-day meeting between Indian and American officials to finalise the legal text for an interim trade agreement will begin in the US on February 23. Earlier this month, India and the US released a joint statement to announce that a framework for an interim trade agreement has been finalised.
Union Commerce and Industry Minister Piyush Goyal on Saturday described Congress leader Rahul Gandhi as "immature" and lacking understanding of the economy and accused the opposition party of spreading misinformation as it had no constructive agenda to criticise the Narendra Modi government. Speaking to reporters here in Mumbai on the Union Budget, Goyal said Rahul Gandhi is "thousand miles away from the truth" and asserted "discredited leaders" like him may try but would not be able to stop Prime Minister Modi and his service to the nation. "The Congress is frustrated. It has no other scheme or solution except spreading misinformation and fabricated claims. It does not have any point to criticise us. They are trying to mislead our farmers by spreading wrong and false information," he said. "I am confident that discredited leaders like Rahul Gandhi of the Congress and its allies, including TMC, DMK and SP, which are parties rejected by the people, can try hundreds of thousands of ..
Union Minister Piyush Goyal on Saturday said the interim trade agreement reached between the Centre and the US will include India's energy requirements and would help it secure crude oil at more competitive prices. Speaking to reporters here, the Commerce and Industry Minister said that India and the US have agreed to work towards increasing the annual trade between the two countries to USD 500 billion by 2030, and the government is working to achieve this target. He said the proposed USD 500 billion trade would include India's energy requirements, such as crude oil, LNG and LPG. "India is the fastest-growing large economy in the world, and its energy demand is rising by around 7 per cent annually. Increasing imports and having more suppliers would help India secure crude oil at more competitive prices," Goyal said. Last week, India and the US announced that they had reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of .
Union Minister Piyush Goyal on Saturday asserted that Maharashtra will be among the biggest beneficiaries of the Union Budget 2026-27, citing provisions made for infrastructure, railways and industry, which will have a direct impact on the state's growth. Speaking to reporters here about the Union Budget, the commerce and industry minister said Mumbai and Navi Mumbai are major destinations for data centres as subsea cables land there, which would attract foreign direct investment and generate employment. "The budget provides Rs 12.21 lakh crore for infrastructure development. Projects such as Vadhawan Port, the new airport and the Delhi-Mumbai Expressway will benefit Maharashtra. A rupee spent on infrastructure gives a return of Rs 3 to Rs 3.5. This will boost economic growth and reduce logistic costs," he said. He pointed out that the budget focuses on the MSME and manufacturing sectors through credit guarantee schemes, renewable energy use and expansion of cloud services. Goyal s
Commerce and Industry Minister Piyush Goyal will hold a meeting with representatives of export promotion councils and industry associations on February 11 here amid finalisation of trade pacts with the US and the European Union, an official said on Monday. The meeting is important as India and the US have finalised a framework for signing the first phase of the bilateral trade agreement. Under this, the US has agreed to reduce the 25 per cent reciprocal tariffs on Indian goods to 18 per cent. It has already eliminated the punitive 25 per cent tariffs on India, which was imposed in August last year for purchasing Russian crude. Indian exporters were eagerly waiting for this deal as the US is the largest export destination for several labour-intensive sectors such as textiles, leather and footwear and gems and jewellery. The steep 50 per cent tariffs were hurting India's exports to America. The industry official said that all the export promotion councils have been invited for the .
The India of today is negotiating trade deals from a position of strength and confidence that it can offer a future market of USD 35 trillion, Commerce and Industry Minister Piyush Goyal said on Sunday. "That's what is our negotiating strength," Goyal told PTI Videos in an interview. His first after India-US reached an agreement on tariffs, seen as a first step toward finalising a bilateral trade agreement (BTA). Today, India negotiates from a position of strength, "I start by saying look we are 4 trillion dollar economy today, but it is going to be 30-35 trillion by 2047, when we are a developed economy," he said. "And that is the confidence that india has today, that delta of opportunity from 4 trillion to 30-35 trillion, that is the future we offer," he added.
US-based Boeing is a large buyer of aircraft parts from India and is looking at the country as its largest foreign original equipment manufacturer (OEM) base for components going forward, Commerce and Industry Minister Piyush Goyal said on Saturday. Under an interim trade agreement with India, the US has agreed to remove tariffs on certain aircraft and aircraft parts of India. "Already Boeing and Airbus are large buyers of aircraft parts from India...I am told both these companies are looking at India as the largest foreign OEM for parts going forward and I have had conversations with the top board and CEO of both companies. There is a lot of excitement about the India-US partnership," he told reporters here. Boeing has over 265 commercial and military aircraft operating in India, which is a key market for the plane maker. The company has more than 325 suppliers and the annual sourcing from the country is worth over USD 1.25 billion. The amount includes components and services. Ai