Commerce Ministry

Indian economy on strong footing, says Commerce Minister Piyush Goyal

Commerce minister Piyush Goyal said the economy is on a strong footing despite global turmoil, citing Q2 growth and export gains in October-November

Working on Jan Vishwas Bill-3 to decriminalise minor biz offences: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the ministry has started work on further decriminalisation of minor business offences through the third edition of Jan Vishwas bill. He said that the ministry has already identified about 275-300 provisions, which can be decriminalised. "Preparations for Jan Vishwas Bill-3 are underway," he said here while addressing a conference of domestic traders. The Jan Vishwas (Amendment of Provisions) Bill 2025, which seeks to decriminalise certain minor offences to promote ease of living and business, was introduced in the Lok Sabha in August and referred to a Select Committee. The committee has been tasked to submit its report to the House by the first day of the next session of Parliament. In 2023, the first edition of the law was implemented, which seeks to promote ease of business by decriminalising minor offences through amendments in 183 provisions of 42 Acts. He suggested that the traders' community identify more provision

India to gain as US rolls back tariffs on key farm goods: Commerce minister

India is expected to gain from the US decision to roll back reciprocal tariffs on certain agricultural products such as tea, coffee and spices, the commerce ministry said on Monday. A White House Executive Order issued on November 12 excludes coffee, tea, tropical fruits, fruit juices, cocoa, spices, bananas, oranges, tomatoes, beef and certain fertilisers from the April 2 reciprocal tariff regime. The exemptions took effect on November 13. The Commerce Ministry said that while this applies to all trading partners, it creates a level playing field for Indian exporters. India exports these goods worth over USD 1 billion annually. These products included fruits and nuts, processed foods, spices, tea and coffee, essential oils, and vegetable and edible roots. "Now our exports will have a level playing field," Joint Secretary in the Department of Commerce Darpan Jain told reporters here. However, think tank GTRI has said that India will have a small gain from the US move. "India has

Piyush Goyal urges corporates to create pool of funds to support startups

Commerce and Industry Minister Piyush Goyal on Monday appealed to Indian corporates to create a pool of funds to support startups of the country, saying many entrepreneurs end up selling a large part of their equity at abysmally low prices to foreign firms. He also asked domestic firms to focus on quality, innovation and sustainability to push the country's economic growth. "I have a complaint about many of the billionaires that Indian domestic capital is not coming sufficiently to support the Indian startups. So I do wish to see Indian companies, Swadeshi capital coming in a big way to promote the startups because there's tremendous potential. "And sadly, a startup sellout, a large part of their equity ownership, at abysmally low price, very low price when they need that first seed capital or early stage funding," he said at an event in Mumbai. He added that the "sharks" out there just tend to kill the ideas of Indian startups or buy them out very cheaply. "I want to appeal to al

Can consider visa on arrival for US, Europe on medical treatment: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said offering visa on arrival facilities for medical treatment can be considered to patients from countries such as the US. The idea was floated in the CIIs annual health summit here. "The idea about visa on arrival is a good idea. We will pursue that...For many countries, we allow visa on arrival, we allow e-visas...both these can be considered let's say for the United States, most of the European countries... not all by the way ...for most of the countries where we have a fair amount of comfort and where detailed investigations or enquiries are not required," Goyal said. He suggested the CII to work on the idea and share with the government. "Off course one has to look at what will be the certifications and which are the countries for which we can allow that," he added.

Govt proposes mandatory 'country of origin' filters for ecom platforms

The Consumer Affairs Ministry has proposed to make it mandatory for e-commerce platforms to provide searchable and sortable filters based on 'country of origin' for packaged commodities, a move aimed at enhancing transparency at digital marketplaces. The amendment is designed to enable consumers to make informed purchasing decisions by allowing them to easily identify the origin of products while shopping online. The ministry, in a statement, said the Draft Legal Metrology (Packaged Commodities) (Second) Amendment Rules, 2025, would amend existing 2011 regulations by requiring "every e-commerce entity selling imported products shall provide a searchable and sortable filter for the country of origin, with their product listings." The proposed feature will reduce the time required to locate such information across vast product listings. The draft amendment rules have been published on the department's website for public consultation. Comments from stakeholders are invited until Novem

India, New Zealand trade pact to boost trade, investment ties: Ministry

The proposed free trade agreement between India and New Zealand is expected to enhance trade flows, deepen investment linkages and strengthen supply-chain resilience, the commerce ministry said on Saturday. It may also provide greater predictability and market access for businesses in both countries, it said. Commerce and Industry Minister Piyush Goyal was here to give an impetus to the trade pact negotiations with his New Zealand counterpart Todd McClay. The fourth round of negotiations on the India-New Zealand Free Trade Agreement (FTA) concluded on November 7, in Auckland and Rotorua. The ministers "acknowledged the steady progress made during this round and reaffirmed their commitment to work towards a modern, comprehensive, and future-ready FTA," it said. Both delegations held detailed engagements across key tracks, including trade in goods, trade in services, economic and trade cooperation, and rules of origin. "The ongoing discussions reflect the shared resolve of both nat

Piyush Goyal stresses need for export diversification amid tariff heat

At a meeting with exporters, Goyal reviewed FTA talks with EU, Chile and New Zealand, and discussed challenges from US tariffs and quality control orders

DGFT plans to launch digital platform to link testing, inspection agencies

DGFT, the foreign trade arm of the Commerce Ministry, on Monday said it plans to launch a pilot of Bharat Aayat Niryat Lab Setu, a digital single-window platform to link testing and inspection agencies nationwide for faster and paperless certification of export and import consignments. The Directorate General of Foreign Trade (DGFT) said that the initiative seeks to streamline the process of testing and certification by digitally connecting exporters, importers, and accredited testing and inspection agencies through a unified online interface. "The DGFT proposes to initiate the pilot of Bharat Aayat Niryat Lab Setu - a digital platform integrating testing and inspection agencies across the country under a single window," it said in a trade notice. The pilot phase will commence from November 4, and exporters and importers will be able to submit applications for product and commodity testing through the platform from November 11 this year. The platform will reduce delays, improve ...

Core sector growth slips to 3-month low of 3% in Sep as energy output fall

Core sector growth eased to a 3-month low in September as output in coal, crude oil, refinery, and gas declined, even as steel demand stayed robust

Centre working on steps to boost rare earth supply chain: Piyush Goyal

Commerce minister Piyush Goyal says India is building resilient supply chains and negotiating pacts with Chile and Peru to boost access to rare earth minerals

India's exports up 6.74% in September, trade deficit stood at $32.1 bn

India's exports grew by 6.74 per cent to USD 36.38 billion in September despite global headwinds. Imports jumped 16.6 per cent to USD 68.53 billion. The country's trade deficit stood at USD 32.1 billion during the month. Imports surged due to the increase in imports of gold, silver, fertiliser and electronics. In April-September this fiscal, exports increased by 3.02 per cent to USD 220.12 billion. Imports rose 4.53 per cent to USD 375.11 billion, the commerce ministry data showed.

Nearly 4,000 GST complaints filed in first week of reforms, says govt

The Consumer Affairs Ministry said the National Consumer Helpline received 3,981 GST-related complaints in the first week of reforms, mainly on milk pricing and electronics

Rajesh Agrawal takes charge as commerce secretary from October 1

Rajesh Agrawal, a 1994-batch IAS officer from the Manipur cadre, takes over as commerce secretary from October 1, succeeding Sunil Barthwal as India advances major trade negotiations

Govt maps 12,167 HSN codes to ministries to boost ease of doing business

The government has prepared a guidebook mapping 12,167 HSN codes to 31 ministries and departments to promote a data-driven approach for streamlining regulatory processes and enhancing ease of doing business, according to a statement on Sunday. In trade parlance, every product is categorised under an HSN (Harmonised System of Nomenclature) Code. It helps in systematic classification of goods across the globe. Additionally, the development will support more effective trade agreement negotiations that are aligned with national economic priorities and domain strengths. "With the facilitation for identification of the relevant ministry or department for specific HSN Codes, this initiative will streamline regulatory processes and further enhance ease of doing business," the commerce and industry ministry said. The move follows persistent challenges faced during trade negotiations, import substitution efforts and redressal of industry concerns due to the absence of definitive mapping of .

Piyush Goyal to visit US on Monday to push for early trade deal talks

Goyal's visit follows a positive meeting between trade negotiators in New Delhi last week as India and the US step up efforts to resolve tensions and conclude a trade agreement

Commerce ministry tells retailers to highlight discounts from GST rate cuts

The commerce and industry ministry has directed physical retail chains to prominently display and advertise discounts due to the recent GST rate rationalisation. In a communication to the Retailers Association of India, Department for Promotion of Industry and Internal Trade (DPIIT) said retailers should reflect the GST reduction in the receipt / bill as GST discount and major focus be given on high impact products. "Prominently display and advertise 'Discount due to GST' through their networks. For example - posters / flyers and ads (print, TV and online) through their own retail networks," it said. The department has also suggested that sales figure be monitored during this festive season and highlighted through various channels. Nearly 400 products - from soaps to cars, shampoos to tractors and air conditioners - will cost less when the rejig of the GST is effective from the first day of Navaratri on September 22. Starting September 22, the GST slab structure will change - 5 pe

India's exports to surpass 2024-25 levels, GST reforms to aid growth: Goyal

India's exports during the current financial year would be higher than 2024-24, said Union Minister Piyush Goyal on Thursday, while asserting the government is working at a fast pace for diversification of outbound shipments. The commerce and industry minister also said the industry has committed to pass on the benefits of the GST rate reduction to consumers. "This has been a very special year for consumers," he said while referring to the Income Tax benefits effected through the Union Budget and GST reforms announced on Wednesday evening. Talking to reporters here, the minister said the reforms announced on the GST front will have multiplier impact on the economy and help in keeping inflation at low levels. "Industry has committed they will pass on the benefits of GST rate reduction to consumers," Goyal said, adding he has spoken to industry associations and large corporates. The minister further said reduction in prices also benefits industry as it leads to higher demand which i

Goyal urges industry to pass on GST rate cut benefits to consumers

The industry must pass on to consumers the full benefits of the GST rate reductions, the "biggest ever reform" since India's independence, Union Minister Piyush Goyal said on Thursday. Union Commerce and Industry minister said the GST reforms would boost demand in almost all sectors, supporting the economic growth of the country. He urged the industry to encourage the sale of products made in India in a big way. The minister addressed a joint event of the 2nd edition of India MedTech Expo 2025 and IPHEX 2025, which is the 11th international exhibition on pharma and healthcare. He also spoke at Bharat Nutraverse Expo 2025. Talking about India's growth story, Goyal said the country in the next two years would become the third largest economy. India will grow from a USD 4 trillion economy to a USD 30 trillion economy by 2047. "Yesterday's reform in indirect taxes in GST, coming on the back of several initiatives over the last 11 years, is transformational in nature, significantly ...

Commerce ministry holds talks with exporters to counter steep US tariffs

The Commerce Ministry will hold a series of meetings this week with exporters from various sectors, including chemicals, gems and jewellery, to discuss ways to boost exports to new markets to shield industries from the steep 50 per cent US tariffs on Indian goods, an official said on Wednesday. The official also said work is progressing fast on the formulation of the Export Promotion Mission, announced in the Budget for 2025-26. "In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports," the official added. The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than USD 48 billion. The sectors which would bear the brunt of the high import duties imposed by the Trump administration include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery. Sectors such as pharma, energy ...