Page 12 - Piyush Goyal

Piyush Goyal likely to visit Washington soon for key India-US trade talks

With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said. The visit comes in the backdrop of recently concluded daylong discussions here between US Chief Negotiator Brendan Lynch and his Indian counterpart Rajesh Agrawal on the proposed bilateral trade agreement. "The commerce minister's visit is likely soon... may be in the next few days... for the trade talks," they said. On September 16, the commerce ministry stated that daylong discussions with the visiting US team on a bilateral trade deal were positive, and both sides agreed to push for an early and mutually beneficial conclusion of the agreement. "It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement," the ministry said in a statement after a seven-hour meeting with US officials. The talks were important as the US has imposed a steep 50 per cent tariff on Indian goods. The vi

Exports to rise 6% this year, will end year on positive note: Goyal

Commerce Minister Piyush Goyal said India's exports would grow 6% this year, despite the US' 50 per cent tariffs, adding FTAs with the EU and UAE were progressing to boost trade

India's exports projected to rise 6% in 2025, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Wednesday expressed confidence that India's exports would grow by around 6 per cent this year compared to the corresponding period in 2024. Underscoring the country's strong performance in global trade despite challenges, the minister said discussions on free trade agreements (FTAs) were advancing with several countries. "India's exports would grow by around 6 per cent this year compared to the corresponding period last year. I believe we will end the year on a positive note," Goyal told reporters here, adding that discussions on free trade agreements (FTAs) were advancing with several countries. "India's growing strength and the fact that we will be moving in the Amritkal from a USD 4 trillion economy to a USD 30 trillion-plus economy clearly show that India is the place to do business. The world would like to work closer with India," he added. The minister emphasised that India's domestic momentum and external engagements were reinforcing e

US signals softer stand in BTA: Access to high-end cheese, not milk market

US signals softer dairy stance, eyeing premium cheese exports to India as trade talks restart; India wary of opening sensitive farm sector

India's trade parleys with US are progressing well, says Piyush Goyal

US Commerce Secretary Howard Lutnick said he believes the US will sort out a trade deal with India as soon as that country stops buying Russian oil

India in active dialogue with US for free trade agreement, says Goyal

The minister said that negotiations are going on with the European Union as well in the national capital for concluding a trade agreement

India-EU trade talks moving fast towards conclusion, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said trade talks with the European Union are progressing fast and both sides would be in a position to "substantially conclude" the agreement by the time EU Trade and Agriculture commissioners visit India. The chief negotiators of the two sides are holding the 13th round of negotiations for the proposed free trade agreement. EU Trade Commissioner Maros Sefcovic and EU Agriculture Commissioner Christophe Hansen are likely to visit India this week. The two sides are working "very very" actively to converge on different parts of the agreement, Goyal told reporters here. Almost 60-65 per cent of chapters also are completed and finalised, he said. "By the time my counterparts Mr Maros Sefcovic, the EU Trade Commissioner and Mr Christophe, the EU Agriculture Commissioner, come to India, I think we will be quite set to try and conclude the agreement substantially," he said. India and the European Union (EU) on Monday started the 13

Piyush Goyal may visit Qatar in October as FTA framework nears close

India and Qatar are likely to finalise the framework for a free trade agreement in early October, with commerce minister Piyush Goyal expected to travel to Doha soon

'No need to panic, negotiations underway': Piyush Goyal on Trump tariffs

Union Minister Piyush Goyal said there is never a fixed timeline for negotiations and they should be conducted patiently with a long-term perspective

Industry will pass on GST benefits to consumers, says Piyush Goyal

Commerce Minister Piyush Goyal confirms that industries will pass on the benefits of GST rate reductions to consumers and discusses plans to boost exports amid US tariff challenges

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 ...

Industry must pass on benefits of GST rate cut to consumers: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Thursday described the reduction in GST rates as "game-changing" and the "biggest reform" since independence, as he asked the industry to pass on the full benefit to consumers. The minister said the GST reforms would boost demand in almost all sectors and support the economic growth of the country. He also asked the industry to promote Made in India in a big way. Addressing an event here, the minister said the reduction in GST would benefit every consumer. "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 impacting the pharma sector, significantly impacting so many sectors, right from the farmer until our MSMEs," he said. "Every stakeholder in the country, every consumer, stands to benefit," Goyal added. Terming the GST reforms as "game-changing", the minister said the move would play an important role in the months and ye

Govt committed to safeguard exporters' interests, says Piyush Goyal

Government pledges policy interventions and trade support to ease impact of 50% US tariffs

Goyal assures help to exporters to deal with global trade uncertainties

Commerce and Industry Minister Piyush Goyal on Wednesday assured exporters to support them in dealing with steep tariffs imposed by the US, an official said. He also reaffirmed the government's commitment to safeguarding the interests of Indian exporters amid the evolving global trade scenario. He assured industry representatives that the government is actively engaged in creating an enabling environment to help exporters navigate recent challenges, the official said. The minister urged exporters to upgrade product quality, align with global standards, diversify supply chains, and explore alternate markets. These issues were discussed during a meeting convened by the commerce ministry with representatives of export promotion councils (EPCs) and industry associations to address rising global tariffs, explore solutions, and chart a path forward amid shifting trade dynamics. "He assured EPC and industry representatives that the government remains committed to providing a supportive .

India, US still in dialogue for bilateral trade deal, says Piyush Goyal

Piyush Goyal said India and the US remain in talks for a trade deal despite tariff frictions, even as India advances free trade agreements with the EU and other partners

AI offers huge opportunity, going to increase jobs: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said Artificial Intelligence (AI) offers huge opportunities, and it is only going to increase jobs in the country. He also said, "I have told my office, every person at decision-making levels, has to have the latest version of AI, ChatGPT or whatever else is available, on their phones or their laptops. "So we are going to use it, but with a condition that any input they make should have at the bottom, that it has been generated or prepared with the support of AI...and has been validated for," he said here at an industry chamber event. The minister said that it is an idea whose time has come. India is a nation which is always willing to adopt new technologies, he said. He added that there will be a few naysayers who would write that technologies like AI would have a terrible impact on jobs. But, one should not be deterred by that, he said. "AI will have its role...there will be the problem of unethical use of AI, so human ...

India negotiating bilateral trade agreement with US, says Piyush Goyal

With five rounds concluded so far, India-US trade negotiations faced a pause as the US deferred its visit after imposing a 50 per cent duty on Indian goods from August 27

Piyush Goyal slams India Inc, says needs to step out of 'cosy comfort zone'

The commerce minister said Indian industry sees the large domestic market as a comfortable profit zone, and that it needed to re-evaluate its efforts at value addition

Will come up with measures to expand India's presence in global mkts: Goyal

The Union minister exuded confidence that the measures will ensure that India's exports in the current financial year will exceed that of last year's

Govt to soon bring various measures to boost exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said the government will soon introduce various measures to expand the domestic outreach and global foray to boost country's exports. "I can assure each one of you that in the days ahead, the government will be coming out with a variety of measures to support every sector, both to expand the domestic outreach and look for complementarities in other markets around the world to expand our global foray so that this year, our exports will exceed last year's exports. "This year will define our self-confidence," he said here at an industry event. The government is working on support measures for exporters as the 50 per cent tariffs imposed by the US on Indian goods are expected to hurt certain labour-intensive sectors, including shrimp, leather, and footwear, as well as textiles. In 2024-25, India's goods and services exports touched an all-time high of USD 825 billion.