Page 17 - Piyush Goyal

Services sector should aim to exceed merchandise exports next fiscal: Goyal

India's services exports are registering healthy growth rates and the sector should aspire to reach USD 450 billion in exports, overtaking merchandise shipments, in the next financial year, Commerce and Industry Minister Piyush Goyal said on Thursday. The goods trade is facing headwinds in the current global situation, he added. The services sector should be targeting USD 450 billion in exports in 2025-26 and about USD 385-390 billion this fiscal, he said here while addressing the Inaugural Session of Nasscom Global Confluence 2025. "You should overtake merchandise exports next year," Goyal said, adding that "as I see the figures coming in, and the growth has been scorching in the services side". In 2023-24, the services exports stood at USD 341 billion, an increase of 4.85 per cent over the previous year. In April-February 2024-25, the services exports increased 14.1 per cent to USD 354.9 billion. On the other hand, goods exports contracted 3.1 per cent year-on-year to USD 437 .

India-US discuss reciprocal tariffs, 1st phase of bilateral trade agreement

Goyal met key officials of the Donald Trump-led administration in Washington last week, including Greer, and his counterpart Howard Lutnick to discuss urgent trade issues

Centre assures exporters will protect their interests amid US tariff threat

The issues related to the country's exports were discussed during a virtual meeting chaired by Commerce and Industry Minister Piyush Goyal

Piyush Goyal likely to visit US later this month with revised tariff offer

This could be the Commerce minister's second visit to US in less than a month

Will keep India's interests on top in US trade talks: FM Sitharaman

Says govt seized of potential reciprocal tariff problems

India is closely monitoring trade talks with US, says FM Sitharaman

Commerce Minister Piyush Goyal is currently in the US for discussions aimed at safeguarding Indian exporters' interest

India-US trade deal long overdue, it will boost GDP of both nations: USIBC

Goyal and US secretary of commerce Howard Lutnick held their first meeting in Washington on Tuesday

Indian exports under mounting pressure from US, EU trade policies

Indian trade minister Piyush Goyal started on a trip to the United States on Monday to pursue trade talks, ahead of Trump's planned tariff measures

Piyush Goyal heads to US for talks as Trump tariffs loom, say officials

Goyal's visit was sudden, as he departed after cancelling previously scheduled meetings until March 8

Commerce minister Piyush Goyal to meet USTR ahead of tariff rollout

During US visit, commerce minister also expected to meet his US counterpart

Nifty valuation decent, reasonable, markets may see some correction: Goyal

After some sell-off during the week, Union Minister Piyush Goyal on Saturday opined that the 50-share benchmark Nifty's valuation is decent and reasonable. Goyal, who oversees the commerce and industry portfolio, said that there can be some more correction in the offing for the Indian markets. A forward price-to-earnings ratio of 19 makes the Nifty valuations "decent" and "reasonable". "Some of them (Nifty stocks) may have seen some downfall, but by and large the Nifty still reflects decent valuations," Goyal said, speaking at an event organised by mutual fund industry's lobby grouping Amfi here. "At a P/E ratio of 19 for a developing nation which is the fastest growing country, it (valuation) is still reasonable - some small correction here or there may still happen," he added. Goyal said that the ongoing correction in the markets should serve as a wake-up call for the ones who have not advised the small investors properly, and asked Amfi to ensure that it isolates those who have

EAM S Jaishankar, Piyush Goyal attend 2nd India-EU trade, technology meet

In a Joint Press release in February 2023, India and the EU announced the establishment of the three Working Groups under the India-EU Trade and Technology Council and their Terms of Reference (TTC)

Trade, tech, tourism, to be key drivers for Assam's growth: Piyush Goyal

Union commerce and industry minister Piyush Goyal on Wednesday said 3Ts trade, technology and tourism along with 3Is industry, infrastructure and investment will take Assam towards development. "Unprecedented progress is taking place in Assam which is the 'crown of the Ashtalakshmi' states of the Northeast region. It will surge further ahead due to the talent, hardwork and hospitality of the people of the state," Goyal said at the valedictory session of Advantage Assam 2.0 Investment and Infrastructure summit here. Assam government rejected various investment proposals during the summit but focused on the practical and possible ones which could be implemented, he said. A permanent exhibition hall and convention centre like the Bharat Mandapam will be set up in Assam as a joint venture between the Centre and the state government, Goyal added.

India, UK trade pact 'genuinely beneficial' for both: British trade secy

The proposed free trade agreement (FTA) between India and the United Kingdom is "genuinely beneficial" to both countries as it would help boost bilateral trade and investments, UK Secretary of State for Business and Trade Jonathan Reynolds said on Tuesday. India and the UK on Monday announced resumption of negotiations for the FTA, which is expected to double or even triple bilateral trade from the current USD 20 billion in the next 10 years. Reynolds met Commerce and Industry Minister Piyush Goyal to discuss about the agreement. After concluding the two-day talks with the Indian minister, Reynolds said: "This is about an agreement which is genuinely beneficial to both countries. That is possible. That's the prize. Getting it right is what we are here to do, and that's what we are working very hard towards". Terming it a "substantial" agreement, he said these pacts make a "real difference if you" get them right. The negotiations are resuming after a gap of over eight months. The t

Tharoor posts selfie with Goyal, UK trade secy; hails India-UK FTA revival

Senior Congress leader Shashi Tharoor posted a selfie with Union Commerce and Industry Minister Piyush Goyal and the UK's Secretary of State for Business and Trade Jonathan Reynolds on Tuesday, and said the revival of long-stalled India-UK FTA negotiations was most welcome. "Good to exchange words with Jonathan Reynolds, Britain's Secretary of State for Business and Trade, in the company of his Indian counterpart, Commerce and Industry Minister Piyush Goyal," he said of their meeting at an event on Monday. "The long-stalled FTA (Free Trade Agreement) negotiations have been revived, which is most welcome," Tharoor said on X. Tharoor's post created a buzz among political circles as it comes amid a row over his recent article in a newspaper that drew criticism from some Congress leaders in Kerala for his perceived praise of the Left Democratic Front (LDF) government in the state for boosting the investment climate. Tharoor's article in an English-language daily, praising the ...

Electronic, electrical industry should aim for $100 bn exports: Goyal

The Indian electronics and electrical industry should look at increasing exports to USD 100 billion over the next 5-7 years, Commerce and Industry Minister Piyush Goyal said on Monday. He said the export volume of electronic goods ranks second in the country against 167th in 2015. In January, the export volume of electronic goods was USD 3 billion. Look at increasing exports to "USD 100 billion in the next 5-7 years", he said at the 16th Edition of ELECRAMA, organised by the Indian Electrical And Electronics Manufacturer's Association (IEEMA) here. The minister also said India's electronic goods industry must work together towards more resilient supply chains, upgrade quality standards and provide high-quality goods and services to the world at competitive rates. He urged the participants to work together to bring competitive advantages to the manufacturing sector. The minister stressed that the industry has a responsibility to ensure that consumers are provided better deals. He

BS Manthan: Top leaders to discuss India's global position on Feb 27-28

FM Sitharaman, Piyush Goyal, Ashwini Vaishnaw, Bhupender Yadav among those who will discuss India's position in a new world order at the second edition of Business Standard Manthan

Tesla, other cos welcome to invest, manufacture in India, says Piyush Goyal

India welcomes Tesla and also all the other global companies which want to invest and manufacture in the country, Union Minister Piyush Goyal said on Saturday. Replying to a question on Elon Musk-promoted EV maker Tesla's speculated entry into India, Goyal said the American company is welcome to set up a presence in India. It is the give and take which creates mutually beneficial partnerships, the minister said, making it clear that India is not anti-imports. "We welcome Tesla and also all the other global companies who want to invest and manufacture in India," Goyal said. The minister also said that construction activity and vehicle exhaust are the prime reasons for pollution in cities. He assured that the government is committed to reducing pollution, citing efforts like encouraging usage of electric vehicles as a step in the same direction. "In cities, the main reason for pollution is construction and vehicular pollution," Goyal, who handles the Commerce portfolio, said. Switch

Efforts on to balance India-Japan trade by boosting exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said efforts are underway to balance bilateral trade between India and Japan by increasing exports. India's exports to Japan during April-January this fiscal rose by 21.12 per cent to USD 5.1 billion, while imports grew by 9.1 per cent to USD 15.92 billion, leaving a trade deficit of USD 10.82 billion in favour of Japan. In 2023-24, the country's export to Japan was USD 5.15 billion and imports were USD 17.7 billion. The trade gap was USD 12.55 billion. "Efforts are being made to balance trade between India and Japan, with a focus on increasing Indian exports to ensure reciprocal benefits," the commerce ministry said in a statement quoting the minister. This was stated by Goyal in his keynote address at the India-Japan Economy and Investment Forum. He also invited Japanese firms to increase collaboration in areas such as green energy, renewable energy, high-tech manufacturing of semiconductors, electronic goods, and artificial

Centre working in tandem with states for economic growth: Piyush Goyal

The Centre is working in tandem with all states to make India a USD 30-35 trillion economy by 2047, Union minister Piyush Goyal said on Friday, as he highlighted the investment opportunities in the country. The Commerce and Industry Minister, speaking at the Invest Kerala Global Summit (IKGS) here, sought to woo investors and will soon start talks with Bahrain for a Free Trade Agreement (FTA). There are "unmatched opportunities for growth, development and economic opportunities" in the country, Goyal said. "We are working in tandem with all states," on taking the country's economy to USD 30-35 trillion by 2047 from the current USD 4 trillion, the minister emphasised. There are differences between the BJP-led Centre and the Kerala government, which is headed by the Left Democratic Front (LDF) on various issues. Against this backdrop, Goyal said he is here to show solidarity with Kerala and also mentioned about various strides made by the state in different sectors. He urged invest