Piyush Goyal

Piyush Goyal says changed circumstances will shape final trade pact with US

The US and India announced in February that they had reached a framework for an interim trade agreement, but circumstances have changed, and the pact will be finalised accordingly, Commerce and Industry Minister Piyush Goyal said on Saturday. He also said that trade pact negotiations are on with number of regions including Israel, Chile, GCC (Gulf Cooperation Council) and Russia-led group Eurasian Economic Union (EAEU). "USA (trade pact) February me announce hua. Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga. (It was announced in February. Some circumstances have changed; the final decision will be made keeping that in mind)," Goyal said here while addressing members of industry chamber PHDCCI. India is seeking lower tariffs for its goods than its competitors in the American markets. The minister did not elaborate about those circumstances, but the changing tariff landscape in the US has led to further negotiations about the first phase of bilateral tr

Confident of hitting $1 trillion exports target in FY27: Piyush Goyal

Commerce Minister Piyush Goyal says India's export target is achievable despite subdued global trade growth, citing strong domestic businesses, MSMEs and new FTAs

Piyush Goyal invites US firms to explore investment opportunities in India

Commerce and Industry Minister Piyush Goyal has held a series of meetings with top US firms in New York and invited them to explore investment opportunities in India, an official statement said on Wednesday. He met President and COO of Blackstone Jonathan Gray, and Chairman of Blackstone's International Private Equity business Prakash Melwani. In the meeting, the discussions focused on expanding Blackstone's investments and partnerships in India across key sectors, the commerce and industry ministry said. Other businesses with which Goyal held bilateral meetings include Chairman and CEO of Neuberger Berman George Walker; and President and CEO of The Estee Lauder Companies Stephane de La Faverie. "They discussed growth opportunities in India, including through increased manufacturing and sourcing, and India's growing beauty and personal care market," it said. In his meeting with Chairman and CEO of IBM Arvind Krishna, discussions focused on further strengthening IBM's engagement in

Piyush Goyal meets US business leaders, seeks investments in India

Commerce Minister Piyush Goyal on Monday met US business leaders and discussed opportunities to further deepen partnerships and investments in India. Goyal met Jonathan Gray, President & COO of Blackstone, George Walker, Chairman and CEO of Nueberger Berman, and Stephane de La Faverie, President & CEO of The Estee Lauder Companies in New York. "Held a productive meeting with Mr. Jonathan Gray, President & COO of @Blackstone along with Mr. Prakash Melwani, Chairman of Blackstone's International Private Equity business," Goyal said in a post on X. "Discussed opportunities to deepen Blackstone's investment and partnership in India and explored avenues across key sectors. I look forward to our continued engagement and stronger collaboration," the minister said. Goyal also held a productive meeting with. George Walker, Chairman & CEO of Neuberger Berman, along with Anthony Tutrone, Global Head of Neuberger Markets; Andrew Komaroff, COO; and Zain Naqi, Managing ...

Trade negotiations with US have reached a 'plateau': FM Sitharaman

Finance Minister Nirmala Sitharaman says further concessions for either side 'very difficult'

Goyal holds bilateral meetings with top officials of several US firms

Commerce and Industry Minister Piyush Goyal has held bilateral meetings with top officials of a number of US companies and discussed investment opportunities in India. The minister is in the US till October 5. He held meetings with Grant McGee, Executive Vice President and Chief Legal and Compliance Officer at Target. The company is a major US retailer. "Discussed the opportunities for Target to further leverage India's growing manufacturing opportunities under the Make in India initiative, deepen its presence in the country and expand sourcing from India," Goyal said in a social media post. He also met Amit Banati, Executive Vice President and Chief Financial Officer of Mondelez International, a company behind many of the chocolate and biscuit brands. "We discussed Mondelez's seven-decade presence in India and opportunities to expand its manufacturing, sourcing and investments. India's rising consumption and investment-led reforms offer global consumer brands a strong base for g

G20 discusses curbing excess capacity, dumping hurting fair trade: Goyal

G20 trade ministers have discussed preventing large production capacities, created with government support in some geographies, from hurting manufacturing in countries that follow fair trade practices, including India, the US and Europe, Commerce and Industry Minister Piyush Goyal has said. Replying to questions from the Indian diaspora in Chicago about the G20 trade ministers meeting, which concluded late evening on Friday in Milwaukee, Goyal said the members also discussed the future of several elements of the World Trade Organisation (WTO), which is currently under severe stress, including the fact that many countries are using predatory pricing as they have overcapacity, and are dumping goods, much to the detriment of honest and fair trade. Replying to questions from the Indian diaspora in Chicago about the G20 trade ministers meeting, which concluded late evening on Friday in Milwaukee, Goyal said the members also discussed the future of several elements of the World Trade ...

India-US trade deal is not imminent yet, says USTR Jamieson Greer

USTR Jamieson Greer says both sides have identified the sticking points and are working diligently towards an agreement, with another leaders' call likely soon

Action on forced labour should be evidence-based: Piyush Goyal at G20 meet

India calls for trade curbs on forced-labour goods to be based on clear evidence, while warning against broad action and urging G20 members to follow WTO rules

India does not have structural excess manufacturing capacity: Piyush Goyal

Commerce and Industry Minister Piyush Goyal said India does not have structural excess manufacturing capacity in the sectors identified by the G20 Presidency, asserting that the country's manufacturing capacity serves both domestic and global needs. The US holds the G20 Presidency in 2026. He also said industrial capacity in itself is not the issue; however, distortions can arise where geographical concentration of production is driven by hidden subsidies and support. The minister added that diversification of production and supply chains is a legitimate objective, but it cannot be used as a pretext for measures outside WTO (World Trade Organisation) rules or shifting the burden of adjustment onto developing countries, which must retain policy space to industrialise. "India's manufacturing capacity serves its domestic and global needs and that, in the sectors identified by the G20 Presidency, India does not have structural excess capacity," Goyal said. India shares the concern of

Goyal meets Greer, pushes for early conclusion of India-US trade deal

Goyal and Greer discussed an interim trade agreement at the G20 meeting in Milwaukee, where talks also covered food supply chains, excess capacity and forced labour

Distinguish food weaponisation from security measures: Goyal at G20 meet

Commerce Minister Piyush Goyal has asserted the need to clearly distinguish between the weaponisation of food supply chains and legitimate measures adopted by countries to address food security requirements. Addressing the G20 Trade Ministers' meeting in Milwaukee, about 1,200 kms from here, Goyal said the shared objective must be to ensure that food remains a source of security, stability and cooperation. "Also, underlined that we must clearly distinguish between the weaponisation of food supply chains and legitimate measures adopted by countries to pursue domestic policy objectives and address food-security needs," Goyal said in a post on X. The minister was speaking at a session on 'Weaponisation of Food through Coercive Trade Action' at the G20 Trade Ministers' Meet on Wednesday. Earlier, US Trade Representative (USTR) Jamieson Greer said the US, during its G20 Presidency, has focused over the course of the year on four work streams -- the weaponisation of food, structural exce

Modi, Trump review bilateral relations amid fresh sanctions threat

Modi and Trump reviewed cooperation in trade, defence, energy and critical technologies as New Delhi faces the prospect of fresh US sanctions over Russian energy purchases

India ready to facilitate US firms' investments, says Piyush Goyal

Commerce Minister tells US executives India is ready to facilitate investment and expansion as New Delhi and Washington seek to advance their proposed bilateral trade agreement

Piyush Goyal to visit US for G20 meet, hold talks on interim trade deal

The G20 Trade Ministerial is scheduled in Milwaukee (Wisconsin) for Wednesday and Thursday. Goyal will also visit Chicago and New York.

India's merchandise exports rise 15% this fiscal till Sep 21: Goyal

India's merchandise exports have risen 15 per cent till September 21 during this fiscal year despite global economic uncertainties triggered by the ongoing wars, Commerce and Industry Minister Piyush Goyal said on Monday. Addressing the media after the 14th India-UAE High Level Task Force on Investment meeting here, the minister also said the UAE -- India's seventh largest source of FDI -- has expressed an intent to invest another USD 25 billion in the near future, with the ultimate objective of taking its investments in India to USD 100 billion in the years to come. "We have increased our merchandise exports by upward of 15 per cent in the first six months (up to September 21) this year, which is a pretty important and significant achievement given the fact that we are living in a world where two wars are going on and the Strait or Hormuz, which is our principal sea route, is facing so much stress," Goyal said. During April-August this fiscal year, exports jumped 17.85 per cent ...

Weekly policy watch: Goyal-Greer meet, IIP, PMI and forex data in focus

India's policy calendar this week will track industrial output, manufacturing activity and fresh forex reserves data

Piyush Goyal likely to meet USTR Jamieson Greer amid tariff threat

The meeting comes amid US tariff threats and a Section 301 probe, while New Delhi and Washington remain engaged in negotiations to finalise their bilateral trade deal

Uttar Pradesh has emerged as preferred investment destination: Piyush Goyal

Uttar Pradesh has emerged as a preferred investment destination due to favourable industrial policies and its ability to attract large companies, Commerce and Industry Minister Piyush Goyal said on Sunday. Addressing the UP International Trade Show in Greater Noida, he also said that significant increase in the state revenue collection has helped to push the development of the state. The minister noted that the state currently has an annual export volume of around Rs 2 lakh crore and has set a target to increase this to Rs 5 lakh crore by 2030. "Uttar Pradesh is a preferred investment destination due to its favourable industrial policies," he said, adding that major corporations and global investors are arriving across sectors, creating new employment opportunities. He added that excise duty collection increased over four times to Rs 60,728 crore in 2025-26 from Rs 14,273 crore in 2016-17. It is expected to reach Rs 70,000 by the end of this fiscal. Land transfer registration fees

Cumulative FDI during 2014-26 reaches $843 billion, says Piyush Goyal

The Foreign Direct Investments (FDI) in India has touched a highest-ever level of USD 94.53 billion in 2025-26, while cumulative FDI inflows during 2014-26 have reached USD 843 billion, Commerce and industry Minister Piyush Goyal said on Friday. He also said that as of March 31, the Production Linked Incentive (PLI) schemes have resulted in Rs 2.40 lakh crore in actual investment, Rs 23.8 lakh crore in production/sales, and Rs 15.2 lakh crore in exports, while generating over 14.6 lakh direct and indirect jobs. Sectors such as electronics and telecom, pharmaceuticals, medical devices, automobiles, IT hardware, and speciality steel have significantly benefited from the PLI schemes, the minister said. "The numbers tell an encouraging story. India recorded its highest-ever annual FDI inflow of USD 94.53 billion in FY 2025-26, while cumulative FDI inflows from FY 2014-15 to FY 2025-26 reached USD 843 billion," he said in a social media post as September 25 marks the 12th anniversary of