Page 2 - Piyush Goyal

Piyush Goyal urges corporates to create pool of funds to support startups

Commerce and Industry Minister Piyush Goyal on Monday appealed to Indian corporates to create a pool of funds to support startups of the country, saying many entrepreneurs end up selling a large part of their equity at abysmally low prices to foreign firms. He also asked domestic firms to focus on quality, innovation and sustainability to push the country's economic growth. "I have a complaint about many of the billionaires that Indian domestic capital is not coming sufficiently to support the Indian startups. So I do wish to see Indian companies, Swadeshi capital coming in a big way to promote the startups because there's tremendous potential. "And sadly, a startup sellout, a large part of their equity ownership, at abysmally low price, very low price when they need that first seed capital or early stage funding," he said at an event in Mumbai. He added that the "sharks" out there just tend to kill the ideas of Indian startups or buy them out very cheaply. "I want to appeal to al

A timely course correction: The rollback of QCOs must be sustained

A long-overdue course correction begins as the government moves to roll back QCOs that hurt small firms, consumers, and exports - but momentum must continue to prevent regulatory overreach

Examining relief measures for SEZs to boost production: Piyush Goyal

The government is examining proposals to roll out certain relief measures to boost production in Special Economic Zones (SEZs), Commerce and Industry Minister Piyush Goyal said on Saturday. He also said the ministry is looking at ways and means to promote excess capacities in these zones for use in the domestic market in India. This will be in a way also an import substitution because many goods that come into India from other countries get better benefits than the SEZ supplies to DTAs (domestic tariffs areas), he said while visiting Brandix textiles units in Andhra Pradesh SEZ here. "We are trying to bridge that gap and we are very hopeful that soon the output from all the SEZs will increase in a big way. "We are also examining what further relief we can give to the SEZs so that we can increase production in these zones," he said. The minister was here to attend CII Partnership Summit 2025. He added that the SEZ Commissioners of the country have been asked to hold a meeting here

India open to leading WTO reforms, but seeks consensus on agenda: Goyal

Commerce and Industry Minister Piyush Goyal has said India is willing to play a leadership role in driving WTO reforms, but emphasised that the nature of those reforms must be shaped in consultation with developing and least-developed countries to ensure they serve global welfare rather than the agenda of a few advanced nations. He said the world recognises India's strength and leadership and the country is a responsible global citizen and it will continue to be the voice of the Global South. "We would love to lead reforms (at the World Trade Organization). But that reform will be decided in consultation with other developing and less developed countries, so that we can truly work for the welfare of the world and not just the agenda of a few developed nations," he said. The minister was here to participate in the CII Partnership Summit 2025. Goyal was replying to a question on remarks made by WTO Director-General Ngozi Okonjo-Iweala that India should take a leadership role in the

All possibilities on table: Piyush Goyal on ongoing engagements with Canada

India and Canada reaffirmed their commitment to deepening bilateral economic cooperation

India negotiating trade pact with US, EU, other nations: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said India is negotiating free trade agreements at present with countries, including the US, European Union, New Zealand, Oman, Peru and Chile. He also said that India Trade Promotion Organisation (ITPO) would be happy to join hands with the state government to develop a world class convention centre - Andhra Mandapam - like Bharat Mandapam in New Delhi. The minister added that lowering trade barriers globally will help promote free flow of goods, services and capital. India has already implemented free trade agreements with countries such as UAE, Australia and four nation European bloc EFTA. "We are currently negotiating with the EU, US, Oman, New Zealand, Chile and Peru and many more wanting us to start negotiations," he said here at CII Partnership Summit 2025. To promote ease of doing business, he said the Centre has removed as many as 42,000 compliances and abolished 1,500 laws.

Preparing the FTA pitch: India, Australia eye full deal amid US tariffs

Three years after India and Australia signed an interim trade deal, the two sides are moving decidedly towards a full-fledged free trade agreement. They have rising US tariffs to contend with

Piyush Goyal defends QCOs amid calls to suspend 200 product orders

The commerce minister said QCOs are aimed at improving product quality and boosting domestic manufacturing, even as a NITI Aayog panel seeks their suspension

No trade deal at cost of farmers, workers' welfare, says Piyush Goyal

India will not agree to any trade deal that harms farmers, dairy or workers, Piyush Goyal said, adding that new fish export markets like Russia are being explored

Piyush Goyal meets Utah Senate president to boost AI, clean energy ties

Commerce and Industry Minister Piyush Goyal on Monday met a business delegation led by President of the Utah State Senate J Stuart Adams and discussed enhancing collaborations in areas like AI, clean energy, minerals, biotech, aerospace, and advanced manufacturing. Utah is a landlocked state in the western United States. "Discussions were held on strengthening the collaboration in various domains like AI, clean energy, minerals, academia and research, biotech, aerospace, and advanced manufacturing," Goyal said in a social media post. He said that immense potential is there to enhance economic ties between India and Utah.

India, Australia discuss progress of trade pact talks; agree on conclusion

Commerce and Industry Minister Piyush Goyal on Saturday reviewed the progress of negotiations for the second tranche of trade agreement with his Australian counterpart Don Farrell, an official statement said. "Both sides reaffirmed their commitment to work constructively towards the early conclusion of a balanced and mutually beneficial CECA (comprehensive economic cooperation agreement)," it said. The first part of the Economic Cooperation and Trade Agreement (ECTA) entered into force in December 2022. During the meeting, the Ministers reviewed the progress made under the CECA negotiations and discussed pathways to elevate bilateral trade and economic partnerships. The discussions covered a wide range of areas including trade in goods, services, investment and cooperation in mutually beneficial, it said. In 202425, bilateral merchandise trade between India and Australia stood at USD 24.1 billion, with India's exports registering a growth of 14 per cent in 202324 and a further 8 p

India, New Zealand trade pact to boost trade, investment ties: Ministry

The proposed free trade agreement between India and New Zealand is expected to enhance trade flows, deepen investment linkages and strengthen supply-chain resilience, the commerce ministry said on Saturday. It may also provide greater predictability and market access for businesses in both countries, it said. Commerce and Industry Minister Piyush Goyal was here to give an impetus to the trade pact negotiations with his New Zealand counterpart Todd McClay. The fourth round of negotiations on the India-New Zealand Free Trade Agreement (FTA) concluded on November 7, in Auckland and Rotorua. The ministers "acknowledged the steady progress made during this round and reaffirmed their commitment to work towards a modern, comprehensive, and future-ready FTA," it said. Both delegations held detailed engagements across key tracks, including trade in goods, trade in services, economic and trade cooperation, and rules of origin. "The ongoing discussions reflect the shared resolve of both nat

India to protect dairy, MSMEs in FTA with New Zealand: Piyush Goyal

Commerce Minister Piyush Goyal said India will not compromise on sensitive sectors like dairy and MSMEs in its proposed trade pact with New Zealand, where talks have seen major progress

Piyush Goyal to discuss progress of India-New Zealand trade pact talks

Commerce and Industry Minister Piyush Goyal is visiting New Zealand to review the progress of the ongoing negotiations for the proposed trade pact, an official statement said. Goyal, will be in Auckland on November 5 to engage in discussions with Todd McClay, Minister for Trade of New Zealand, on the ongoing FTA (Free Trade Agreement) negotiations. "The visit reflects the shared commitment of both countries to expedite the FTA process and build a more comprehensive and mutually beneficial economic partnership," the commerce ministry said. The fourth round of India-New Zealand FTA negotiations commenced in Auckland on November 3 with an aim to strengthen bilateral trade and economic ties between the two nations, it said. During the visit, Goyal will participate in a series of engagements aimed at strengthening trade, investment, and innovation linkages between India and New Zealand. "These include a dedicated interaction with prominent members of the New Zealand business community

India, EU negotiators start talks to resolve outstanding FTA issues

Negotiators of India and the EU on Monday commenced talks to resolve outstanding issues in the proposed free trade agreement, as the deadline to conclude the talks nears, the commerce ministry said. A team of negotiators from the European Union (EU) is here from November 3-7 for negotiations with Indian counterparts on the proposed Free Trade Agreement (FTA). Deliberations during the week will focus on core areas, including trade in goods, trade in services, rules of origin amongst others, along with technical and institutional matters. "The engagements aim to resolve key outstanding issues and advance the agreement toward a balanced and equitable framework that benefits both sides," the ministry said in a statement. This visit follows Union Minister of Commerce and Industry Piyush Goyal's official visit to Brussels (27-28 October, 2025), where he held forward-looking discussions with Maros Sefcovic, European Commissioner for Trade and Economic Security. "These consultations reaff

Tariff impact: Gems & jewellery shipments to US hardest hit in September

The US accounts for 37 per cent of India's total exports of precious stones and 28 per cent shipments of gold jewellery

Hurdles cleared for Mumbai Coastal Road work to begin soon, says Goyal

Union minister Piyush Goyal said on Sunday that all major hurdles in the Mumbai Coastal Road project, planned to extend up to Virar in Palghar district, have been resolved and that work on it will begin soon. The ambitious Coastal Road now runs from Marine Drive in south Mumbai to Worli, where it connects to the Bandra Worli Sea Link. In later phases, the road will be taken to Versova and then to Virar, which is part of the Mumbai Metropolitan Region. Once completed, the travel time from Nariman Point to Virar is expected to be reduced to just 35 to 40 minutes. All approvals related to the Coastal Road project, including land acquisition, transfer of saltpan lands, and clearances from the Coastal Regulation Zone, Environment Ministry, and Forest Department, have been secured, said Goyal. With these permissions in place, the project will now move ahead rapidly, said the Union Commerce Minister after chairing a high-level review meeting in Mumbai. Goyal, who also represents the Nort

Piyush Goyal stresses need for export diversification amid tariff heat

At a meeting with exporters, Goyal reviewed FTA talks with EU, Chile and New Zealand, and discussed challenges from US tariffs and quality control orders

Goyal calls for resilient supply chains, less reliance on foreign tech

Commerce and Industry Minister Piyush Goyal on Wednesday said it is important for the country to have resilient supply chains, control over key technologies and reducing overdependence on certain geographies. He said the clarion call to promote swadeshi products is not just about making in India, designing or developing in India as it is key for the country's long-term growth and sovereignty. He added that reducing dependence on foreign technologies, foreign weapons, foreign energy sources and foreign critical technologies is important for the country's growth. "This decade in fact has given us several wake up calls, starting from Covid, how important is to have resilient supply chains, to have your own technologies, control over technologies, control over essential supplies in critical areas. "How important it is to decouple in certain sectors and certain very important subjects, from overdependence on certain geographies. And therefore India today has resolved to move away from j

Govt to allocate Startup FoFs to deep-tech startups: Piyush Goyal

Piyush Goyal says the entire Rs 10,000-crore Startup Fund of Funds will go to deep-tech ventures to help Indian founders retain ownership and reduce early foreign equity sales