Page 19 - Piyush Goyal

Shift focus from grocery delivery to high-tech sectors: Goyal to startups

Commerce and Industry Minister Piyush Goyal on Thursday asked the Indian startup community to shift their focus from grocery delivery and ice cream making to to high tech sector like semiconductor, machine learning, robotics, and artificial intelligence. He also said there is a need for more Indian investors into the startup ecosystem. "Are we going to be happy being delivery boys and girls... Is that the destiny of India... this is not startup, this is entrepreneurship... What other side is doing -- robotics, machine learning, 3D manufacturing and next generation factories factories," he said here at the Startup Mahakumbh. The minister said the new startups should focus on preparing the nation for the future. "Do we have to make ice cream or chips?" he asked. He also underscored the evolving role of startups in driving India's economic and technological growth. He assured that the government will handhold and support those who face challenges in their startup journey, encouragin

German firm from chemical sector to invest $1.5 bn in India: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Saturday said a German company from the chemical sector has decided to invest USD 1.5 billion in India, and a state has identified land for the project. Though the minister did not disclose the name of the company or the state, he said that the company's head is expected to meet the state's chief minister on Sunday. The company will "have the allotment of land in his hand, and we will have a billion-and-a-half dollars of foreign direct investment coming into the country over the next 12 months", Goyal said at a session of the Union Internationale des Avocats (UIA) here. The company is looking for a parcel of land, which is about 250 acres near a port. Germany is the ninth largest investor in India. The country has received about USD 15 billion foreign direct investment (FDI) during April 2000 and December 2024. He said that more and more companies are looking at coming to India to explore business opportunities. He added that the ...

India proposes tariff cuts on US farm imports as April 2 deadline looms

Unlike many other nations, India has been been on the front foot to negotiate tariff cuts and is open on over half of US imports worth $23 billion, Reuters reported

India's growth story intact despite US tariff threat, says Piyush Goyal

Since taking over as the US President over two months ago, Trump has been implementing protectionist policies in an attempt to Make America Great Again

Many nations want to adopt India's development model, says Piyush Goyal

Several nations want to adopt India's development model, which has given prominence to initiatives such as Startup India that encourage innovation, Union Minister of Commerce and Industry Piyush Goyal said here on Saturday. Addressing the valedictory function of Vejalpur Startup Festival 2.0, Goyal also said India aims to take the number of unicorns from the existing 118 to 1,000 and 5,000. The startup ecosystem created in the country has encouraged job seekers to become job creators, the Union minister asserted. "Narendra Modi as the then chief minister of Gujarat ensured fast paced development of the state. Gujarat's development then became the country's development. And slowly, several countries, especially developing countries, today want to adopt India's development model," Goyal said. Prime Minister Narendra Modi has dedicated to the nation several jewels in this development model, like Swachh Bharat Mission, Make In India, Digital India, Startup India, International Yoga ...

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 ...