Page 16 - Piyush Goyal

India weighs 3 options as US doubles safeguard duties on steel, aluminium

Retaliation, WTO action, or talks - three options on the table

Good news very soon on India-Oman free trade agreement: Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that negotiations between India and Oman for the proposed free trade agreement (FTA) are progressing, and some "good news" may come "very soon" on that. The negotiations received a much-needed impetus after the visit of Goyal to Muscat in January this year. The talks for the agreement, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. "I think you will see some good news very soon on the Oman FTA," the minister told reporters here when asked whether the FTA talks with Oman can be concluded this year. Goyal is here on an official visit to hold talks with French leaders and businesses to boost trade and investments. He will also attend a mini-ministerial meeting of the World Trade Organization (WTO) on June 3. In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease

Well on track in our bilateral trade agreement talks with US: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said negotiations with the US for a bilateral trade agreement are well on track. The negotiations for the trade agreement with the European Union (EU) are also progressing at a faster pace, he added. "We are well on track in our bilateral trade agreement with the US and making fast progress with EU," Goyal said at the CIIs annual general meeting event here. A US official team is visiting India next week for trade talks with India.

Possibility of interim trade deal between India, US by June 25: Report

With a team of US officials expecting to visit India next month for trade talks, there is a possibility that the two countries may agree on an interim trade pact by June 25, sources said. "Talks are moving. Things are on track," they said. India's chief negotiator, Special Secretary in the Department of Commerce Rajesh Agrawal, concluded his four-day visit to Washington last week. He held talks with his US counterpart on the proposed agreement. Commerce and Industry Minister Piyush Goyal was also in Washington last week to give an impetus to trade talks. He met with US Commerce Secretary Howard Lutnick twice during his visit. Both sides are looking at an interim trade deal before the first tranche of the proposed bilateral trade agreement (BTA) as the USA's 26 per cent reciprocal tariff on India is suspended till July 9 this year. It was imposed by the US on April 2. However, Indian goods still attract the 10 per cent baseline tariff imposed by America. In the interim trade deal,

India, EU push for early harvest trade pact amid ongoing FTA talks

Commerce and Industry Minister Piyush Goyal has met European Commissioner for Trade Maros Sefcovic in Brussels, their second meeting within a month, to discuss the proposed free trade agreement (FTA), currently under negotiation between the two regions. Goyal travelled to Brussels on May 23 from Washington, while India's chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations. The Indian minister held meetings with his EU counterpart earlier this month. "Delighted to welcome my friend and counterpart @PiyushGoyal. We continue to make progress. Let's maintain the momentum - with hard work, clear focus - and I look forward to our next meeting soon," Sefcovic said in a post on X. In response, Goyal, in a post on the social media platform, said, "We remain committed to the shared prosperity of India and the EU. Let us keep this pace going!". These deliberations assume significance as India and the 27-nation European Union are looking

Piyush Goyal meets US commerce secretary to discuss proposed trade pact

Commerce and Industry Minister Piyush Goyal on Friday held his second meeting with US Commerce Secretary Howard Lutnick in Washington to discuss the proposed bilateral trade agreement currently under negotiation between the two countries. On May 20 also, Goyal held a meeting with Lutnick to expedite the talks on the first phase of the trade pact. "Held a constructive meeting with Secretary @HowardLutnick for a mutually beneficial trade agreement. Committed to enhancing opportunities for our businesses and people," Goyal said in a post on X. The meeting assumes significance as both the countries are looking at finalising an interim trade pact by July 8. The four-day discussions between the chief negotiators have also concluded in Washington on May 22. In the interim trade deal, New Delhi is pushing for full exemption from the 26 per cent reciprocal tariff on Indian goods. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90

'Omanisation' last key issue in concluding India-Oman FTA talks: Official

The negotiations for the proposed India-Oman free trade agreement are nearing conclusion with both sides discussing the last issue of the Gulf country's labour-related 'Omanisation' policy, as New Delhi wants the current regime to remain unchanged for its workers, an official said. Omanisation is a policy implemented by Oman to boost the employment of its citizens in the private sector. The policy mandates companies to meet specific quotas for hiring Omani nationals. These quotas vary by sector and are periodically revised. "There is a requirement in Oman for companies to employ a specified percentage of Omani nationals, which varies by sector - 15 per cent or 20 per cent or 30 per cent...What we want is that this current regime of Omanisation should remain permanent for us, so that it does not become more restrictive in the future after the FTA is finalised," the official said. The negotiations received a much-needed impetus after the visit of Commerce and Industry Minister Piyush

Govt extends quality order deadline for electrical items to March 2026

The government on Tuesday said it has extended the implementation timeline for the mandatory quality control order (QCO) on certain electrical appliances by one year, till March 2026 following stakeholder consultations. The QCO will be applicable to all electrical appliances intended for household, commercial or similar applications with rated voltage not exceeding 250 Volt for single-phase appliances and 480 Volt for other appliances including direct current (DC) supplied appliances and battery-operated appliances. The Department for Promotion of Industry and Internal Trade (DPIIT) said that the order would not apply to electrical appliances which fall under the scope of any other QCO. The horizontal QCO on safety of household and commercial electrical appliances was discussed on May 15 with stakeholder consultation meeting, where Commerce and Industry Minister Piyush Goyal had acknowledged concerns raised by the industry and had agreed to consider the request to extend the ...

Trade talks: India to push US to lift non-tariff curbs for goods exporters

The official said industry has raised regulatory hurdles and high cost of certification among other issues in the US as primary obstacles to increasing exports to the US

Tough India-US trade discussions amidst irritants over tariff tensions

In March this year, soon after the US raised its duties on steel and aluminium, China and Canada proposed retaliatory tariffs against imports from the US

India-US trade agreement talks to resume May 17 with ministerial oversight

India and US trade ministers will meet in Washington from May 17 to assess progress on the bilateral trade agreement, provide political direction, and advance talks toward a broader trade pact

India's retaliatory tariff proposal to feature in trade talks with US

India to discuss proposed retaliatory tariffs on US goods during trade talks starting May 17, amid efforts to finalise a broader bilateral trade agreement targeting $500 billion by 2030

Piyush Goyal to visit US for trade talks from May 16: What's on the agenda?

The four-day discussions, scheduled from May 17 to 20, will involve key meetings with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick

Goyal to lead team of officials to Washington for trade talks from May 16

Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit. The four-day talks come against the backdrop of both countries exploring the possibility of an interim trade arrangement in goods to secure "early mutual wins" ahead of finalising the first phase of the trade agreement by fall (September-October) this year. Through these discussions, officials from New Delhi and Washington aim to take advantage of the 90-day tariff pause window to advance the talks. The US has suspended the additional 26 per cent tariffs on India till July 9. It was announced on April 2 to bridge the widening trade deficit. However, the 10 per cent baseline tariff imposed on the countrie

India will retaliate if EU enforces carbon tax on exports: Piyush Goyal

India will impose retaliatory duties if the European Union goes ahead with its plan to levy a carbon tax on Indian products, Commerce and Industry Minister Piyush Goyal said on Tuesday. Under the EU's Carbon Border Adjustment Mechanism (CBAM), Indian exports of steel, aluminum, and cement to the EU could face tariffs of 20-35 per cent. He said that gradually the talks about climate is dwindling and termed the CBAM as "very very irrational regulations". The minister asserted that the developed countries should share technologies and and finances to developing and least developing nations to deal with the issues related to climate change. "If they will put in carbon tax, and now there is a big if for obvious reasons. If they do put it in, we will retaliate. They will put it on products which really will hurt their own economy and the retaliation will further hurt their economy," Goyal said here at an function. "I think it will be very silly particularly to put tax on friendly countr

Piyush Goyal meets Belgian Defence Minister, Minister-President of Flanders

According to a Ministry of Commerce and Industry release, this engagement follows HRH Princess Astrid of Belgium's March 2025 visit to India

Union Minister Piyush Goyal meets Indian representatives in London

On April 28, Piyush Goyal met with the UK's Secretary of State for Business and Trade, Jonathan Reynolds, to advance negotiations for a Free Trade Agreement (FTA) between the two nations

India, UK resume talks in bid to clinch FTA amid US tariff concerns

Goyal returned to London for the talks, a British government spokesperson said, after a two-day visit earlier in the week ended without a final agreement

India-EU trade pact to address tariff and non-tariff barriers equally

Commerce Minister Piyush Goyal says India-EU trade deal to focus on tariff and non-tariff barriers alike, with both sides targeting a meaningful pact by end of 2025

India stresses focus on non-tariff barriers, import duty in EU trade talks

India has emphasised that resolving non-tariff barriers faced by businesses is as important as addressing import duty issues for meaningful progress in talks on the proposed free trade agreement with the European Union (EU), an official statement said on Friday. The progress of the talks was discussed during the meeting between Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic in Brussels. Both leaders also reaffirmed their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025. "India emphasised that meaningful progress in trade negotiations requires an equal focus on Non-tariff Barriers (NTBs) alongside tariff (import duty) discussions and regulatory frameworks must be inclusive, proportionate, and avoid restricting trade," the commerce ministry said. The country has earlier on multiple occasions flagged NTBs being faced by domestic industry in the European Union markets