Page 15 - Piyush Goyal

India won't allow transshipment of goods to other regions: Piyush Goyal

Says govt has been able to protect domestic steel industry from 'dumping'

Govt protecting local steel players from dumping, low prices: Piyush Goyal

India is poised to contribute significantly to global steel demand, Union Minister Piyush Goyal said on Friday while emphasising that the government has been able to protect the domestic steel industry from unfair dumping and irrationally low pricing. Speaking on the sidelines of the Steel India 2025 event here, jointly hosted by the Ministry of Steel and industry body Ficci, Goyal also said both exporters and the MSME sector will continue to get steel at international prices. "India is consistently focused on self-reliance (Atmanirbharta). But when we talk about Atmanirbharta, we are not closing the doors to the world. We are in fact opening the doors wider because every country will have its competitive advantages for different products," he said. The Indian steel industry is a very highly efficient and cost-effective, high-quality producer, the Union Commerce and Industry Minister said. "Therefore we believe that this is one sector where we will not only meet the growing needs o

Nation united to hold Pahalgam perpetrators accountable: Piyush Goyal

Union Minister Piyush Goyal on Friday said the entire nation is united in its commitment to hold accountable the persons responsible for the terror attack in Pahalgam, in which 26 people lost their lives. Speaking at an event here, Goyal said Tuesday's attack has caused outrage from "Kargil to Kanyakumari". Terrorists opened fire in a meadow near Pahalgam in south Kashmir on Tuesday afternoon, killing 26 persons, mostly tourists. "This is a moment when the entire country comes together and, in one voice, expresses both its anger and collective commitment to hold accountable those responsible for this heinous crime," the Union commerce minister said. "There is an outrage from Kargil to Kanyakumari over the dastardly attack on innocent lives at Pahalgam. We are all united in grief. I offer my condolences to the victims and pray for the speedy recovery of the injured. May god give strength to the families who are deeply impacted by this extremely heinous and criminal act committed by

National Herald case: Goyal calls it a Rs 5,000 cr 'open and shut' scam

Union minister Piyush Goyal on Saturday said the action by the Enforcement Directorate (ED) in the National Herald case is aimed at protecting the nation's assets from being "taken over by the Gandhi family for personal use". Goyal alleged that Congress leaders Sonia Gandhi and Rahul Gandhi were involved in a conspiracy to take control of the property, originally meant for public interest, through the now-defunct National Herald newspaper. The ED's action in the National Herald case is to save the nation's assets, the Union commerce minister told reporters here. Such property should be returned to the people, he said. It should be utilised for the people and not the Gandhi family, which was trying to keep it for its own interests, he claimed. The Enforcement Directorate (ED) has filed a chargesheet against Congress leaders Sonia Gandhi, Rahul Gandhi and others on charges of money laundering in the National Herald case.

India set to become trusted bridge of connectivity via IMEC: Piyush Goyal

Goyal said that the IMEC is a powerful endorsement of the leadership and partnership of India, Middle East and East Europe

India to expand trade ties with nations offering fair FTAs: Piyush Goyal

India will expand its trade ties with nations that will offer fair, balanced and equitable free trade agreements (FTAs), Commerce Minister Piyush Goyal said on Wednesday, stressing that the country's gains must match its offer of accessing a 1.4 billion-strong, and fast-growing consumer market. He said that India is negotiating FTAs with different countries and regions, including the European Union (EU) and Oman. The remarks also assume significance as India is negotiating a bilateral trade agreement with the US. The aim is to finalise the first phase of the pact by the fall (September-October) this year. "So we will be expanding our trading relations with countries where we get a fair deal, where we can have equitable and balanced free trade agreements, where India's gains commensurate with what we are offering, a large market of 1.4 billion people, growing market, the world's fastest growing economy," he said here at India-Middle East-Europe Economic Corridor (IMEC) Conclave ...

Goyal meets Starlink delegation; discusses future investment plans in India

Commerce and Industry Minister Piyush Goyal on Wednesday met a delegation of satellite internet services provider Starlink and discussed their existing partnerships and future investment plans in India. "Met a delegation from @Starlink, comprising of Vice President Chad Gibbs & Senior Director, Ryan Goodnight. Discussions covered Starlink's cutting-edge technology platform, their existing partnerships and future investment plans in India," Goyal said in a post on X. Billionaire Mukesh Ambani's Reliance Jio in March announced a pact with Elon Musk's SpaceX to bring Starlink satellite internet services in India. Telecom tycoon Sunil Bharti Mittal's Bharti Airtel has also signed a similar partnership deal with SpaceX.

India's startup failure isn't about ambition, it's about the economy

Criticism of Indian startups may be valid, but the real culprit behind their consumer focus and lack of innovation is the govt's economic model

Goyal likely to visit Europe this month to boost trade, investment ties

Commerce and Industry Minister Piyush Goyal is likely to visit two European countries later this month with an aim to further boost trade and investment ties, an official has said. The minister is expected to lead a business delegation to these countries, the official said. The visit assumes significance as India signed a comprehensive free trade agreement with the four European nation bloc EFTA in March last year. It is expected to be implemented this year. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. India has set up a dedicated platform EFTA desk to promote trade, investment, and business facilitation .

Reduce import dependency, focus on green construction, modular infra: Goyal

Commerce and Industry Minister Piyush Goyal on Sunday asked the construction industry players to reduce import dependency, focus on clean and green construction, and work towards earthquake-resistant and modular infrastructure. Speaking during the inauguration of the first edition of Chemicals & Allied Products Export Promotion Council's (CAPEXIL) Vibrant Buildcon 2025, in New Delhi, he said sectors, including housing, infrastructure, commercial real estate, railways, airports, highways, and energy play a key role in boosting the country's economic growth. "Every element, from cement and electricals to security systems and automation, plays a part in this ecosystem," he said. The government initiatives, including 20 new smart industrial cities, improved tourism infrastructure across 50 destinations, and 100 new industrial plug-and-play hubs would help India move from a USD 4-trillion economy today to a USD 30-35 trillion economy by 2047, Goyal added.

Datanomics: R&D spends by India Inc lag global peers despite improvement

India has improved its ranking in the frontier technologies readiness index from 48th in 2022 to 36th in 2024 out of a total of 170 economies

Govt not encouraging Chinese FDI: Piyush Goyal clarifies policy stance

India does not intend to encourage foreign direct investments (FDI) from China, Commerce and Industry Minister Piyush Goyal said on Friday, indicating New Delhi's intentions of not easing overseas investment curbs imposed on the neighbouring country in 2020. FDI applications from countries sharing land borders, such as China, have to mandatorily seek government approval for all sectors. This policy was issued in April 2020. "As of now, there's hardly any foreign direct investment from China...It was the same 25 years ago when it (FDI) was open (from China), not too much Chinese investment has come to India. Nor are we encouraging any significant investment coming in from China at all. At the moment, that is the policy," Goyal said here at an event. The remarks assume significance as certain quarters are of the view that the rule needs to be eased to attract technology and capital. In 2020, the government made its approval mandatory for FDI from countries that share land borders wit

US, EU trade talks moving forward with 'India first' approach: Piyush Goyal

Amid Trump's tariff threats looming across the world, Goyal further stated that India does not negotiate under pressure

EAM Jaishankar to deliver keynote address at ninth Global Technology Summit

The theme for this year's Summit is "Sambhavna" - meaning possibilities

Reciprocal levy: Working to remove additional US tariffs, says Piyush Goyal

Goyal advised Indian industry and exporters not to route outbound shipments to the United States (US) through countries with lower reciprocal tariffs imposed by Washington

India-UAE partnership a model of trust and shared vision: Piyush Goyal

Union Minister of Commerce & Industry Shri Piyush Goyal has called the India-UAE relationship "a model of prosperity, trust and shared vision" as he addressed the Dubai-India Business Forum in Mumbai, as per an official press release by the Ministry of Commerce and Industry.The event, organised by Dubai Chambers, was attended by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, on his first official visit to India.Earlier in the day, Goyal shared a post on X (formerly Twitter), stating: "Delighted to meet HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. Our discussions focused on deepening economic cooperation under CEPA and exploring new avenues to further strengthen the India-UAE partnership."Welcoming Sheikh Hamdan, Goyal said, "The presence of Sheikh Hamdan symbolises the deep historical connect and generational continuity between Mumbai and Dubai." ...

India's best interests will be kept in mind while inking trade pacts: Goyal

India's best interests will be kept in mind while inking trade pacts, Union Commerce Minister Piyush Goyal assured businesses on Tuesday. "India First is our mantra, is our guiding principle," Goyal told reporters on the sidelines of an event here. Declining to divulge the exact contours of the ongoing trade talks with the US, Goyal said India is in talks with many countries. "They continue to go on very smoothly in a positive direction and all is well," he added. "We are covering a very wide array of subjects, a very wide array of products and I can assure business persons across the country that we are keeping the best interests of India at the forefront of our discussions," Goyal said. The bilateral trade agreement with the US will power the economy towards becoming a developed nation by 2047 when the country celebrates 100 years of independence, he said. Speaking at the Dubai India business forum here, Goyal said India is mulling to start an Indian Institute of Management and

Piyush Goyal calls for 'economic nationalism' to boost local supply chains

The Minister's comments come as India positions itself as a viable manufacturing alternative amidst shifting global trade patterns

Trade talks on, applied tariffs on US items not 'humongous': Piyush Goyal

Piyush Goyal blamed China for the current global crisis, adding that China's entry into the WTO in the 1990s and early 2000s was a turning point

Trump tariffs: Shipments to US likely to shrink 6.4% in 2025, says GTRI

The contraction will be led by a drop in exports of fish and crustaceans, which may fall by a fifth