Page 22 - Piyush Goyal

Goyal asks realtors to ensure ESIC, PF registrations for 70 mn people

Union Commerce and Industry Minister Piyush Goyal on Tuesday asked the real estate industry to provide guaranteed ESIC and provident fund registrations for 7 crore people working in this sector, besides adopting new form of construction process for fast project execution with less pollution. Addressing an event organised by realtors' apex body CREDAI here, he also asked India Inc, including realty firms, to set up manufacturing facilities for construction equipment to make India self-reliant. "I urge you to kindly think about this in very serious terms... can we ensure a guaranteed ESIC and provident fund registration of all these 70 million workmen and women (working in this sector)," Goyal told real estate players. He asked the CREDAI to come out with a resolution on November 25, when the association will celebrate its 25 years, after extensive stakeholder discussions with its 14,000 members. Goyal said there are many positive impacts if industry ensures guaranteed ESIC and PF ..

Goyal seeks investment from Australian pension funds across various sectors

Commerce and Industry Minister Piyush Goyal on Monday sought investments from Australian pension funds in sectors such as renewable energy, manufacturing, education, fintech, and agritech. The minister is in Australia to participate in the Joint Ministerial Commission of the two countries. He also held a meeting with Tania Constable, CEO of the Minerals Council of Australia, regarding ways to strengthen collaboration in the critical minerals sector between India and Australia. "Minister met senior representatives from the Australian pension funds. Discussions focused on the robust policies and reform agenda of the Government of India which have boosted investor confidence. Minister encouraged greater investments into the emerging sectors in the Indian market," the commerce ministry said in a statement. Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play a crucial role in the production of clean energy technologies, from wind turbines to electric ...

Plan to open offices abroad to assist foreign investors: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Sunday said there are plans to open offices in different countries in the coming months to hand-hold foreign investors looking at opportunities to invest in India. The first such office of Invest India -- the national agency to promote investments into the country -- was inaugurated by the minister in Singapore. It will act as a dedicated point of contact for companies from the region looking to invest here. This move reinforces India's commitment to deepening investment partnerships and making it easier for global investors to engage with India. "The Singapore office will serve as a dedicated point of contact for companies from the region looking to invest in India, fostering collaboration across sectors," the commerce and industry ministry said in a statement. Within the Invest India Singapore office is the National Industrial Corridor Development Corp Ltd. Speaking at the event, Goyal said Singapore is a key strategic partner for

India-Asean FTA talks: Goyal calls for addressing local industry's concerns

India on Friday called for addressing the concerns of its domestic industries affected by the existing free trade agreement (FTA) with the 10-nation bloc ASEAN as the two regions negotiate a review of the pact. Commerce and Industry Minister Piyush Goyal has also emphasized the need to rectify the inequitable tariff liberalization under the agreement. Goyal said this during the stock-taking exercise of the progress of review talks for the India-ASEAN free trade agreement in goods (AITIGA) in Laos. All the ministers took note of the progress in negotiations for the review of the agreement. "Minister Goyal in his intervention stressed the need for addressing injury to industries from the existing FTA and the inequitable tariff liberalisation during the review. He also cited India's ongoing efforts of integrating with other economies through FTAs and highlighted the urgency in upgrading AITIGA which otherwise may lead to diversion of bilateral trade to other regions, the commerce ...

Piyush Goyal to review India-ASEAN trade pact talks' progress in Laos

The progress of talks for the review of the India-ASEAN Free Trade Agreement in goods will figure during the visit of Commerce and Industry Minister Piyush Goyal to Laos, an official statement said on Friday. The two-day visit of Goyal to Vientiane, Laos, started from Friday. He is there to participate in the 21st ASEAN-India Economic Ministers (AEM-India) meeting and the 12th East Asia Summit Economic Ministers Meeting (EAS EMM). These annual meetings of ASEAN (Association of South East Asian Nations) with their dialogue partners are being hosted by Laos, the ASEAN Chair for this year. "In the AEM-India meeting, the ministers will review the progress in negotiations for review of ASEAN-India Trade in Goods Agreement (AITIGA), the ministry said. The review is high on India's priority to make it more user-friendly, simple and trade facilitative for businesses, it said. It added that Goyal will have a number of bilateral meetings with his counterparts from participating countries o

One startup per district: Digital portal BHASKAR launched to push growth

Union Minister Piyush Goyal launched the BHASKAR portal to connect startups, investors, and service providers, a move aimed at pushing the Centre's efforts to promote the startup sector

Startup India should move out of Invest India's ambit, says Piyush Goyal

The minister said that the company can be industry-led, similar to Invest India-a key body that pushes investments

Govt to set up section 8 firm for startups to strengthen ecosystem: Goyal

Commerce and Industry Minister Piyush Goyal on Monday said a decision has been taken to set up a not-for-profit company under section 8 of the Companies Act to include all initiatives and bodies of Startup India under one roof. Goyal said the company can be industry-led, similar to Invest India, which can manage its affairs. At present, Startup India is housed in Invest India, which is a national body to promote investments. "We will support it as a catalyst so that policy-wise, it is on the right track. It will have an independent board and organisation structure and we would do a little oversight. The National Startup Advisory Council can also be a part of it," Goyal said. The Startup India initiative was launched on January 16, 2016. Under this, several programmes have been rolled out to support entrepreneurs, build a robust startup ecosystem and transform India into a country of job creators instead of job seekers. These programmes are managed by a dedicated Startup India Team

Piyush Goyal to launch Bharat Startup Knowledge Access Registry on Monday

Commerce and Industry Minister Piyush Goyal will on Monday launch the Bharat Startup Knowledge Access Registry (BHASKAR) initiative which will serve as a central hub where startups, investors, service providers, and government bodies can come together to collaborate, exchange ideas, and accelerate growth. According to an official statement, it will also enhance collaboration among key stakeholders within the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and government bodies. The primary goal of BHASKAR is to build the world's largest digital registry for stakeholders within the startup ecosystem. To achieve this, the platform will offer several key features such as networking and collaboration. providing centralized access to resources, creating personalized identification, enhancing discoverability, and supporting India's global brand. "BHASKAR will bridge the gap between startups, investors, mentors, and other stakeholders, allowing for ..

BJP MP Khandelwal asks Goyal to suspend festival sales of e-commerce giants

BJP MP Khandelwal urges Goyal to suspend festival sales of ecommerce players

Goyal launches two portals for timely delivery of services to exporters

One of the portals launched today is named Jan Sunwai, which serves as an online platform to provide all information and services, including grievance redressal, to the stakeholders

Bihar a 'hidden gem' not discovered by the world, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Friday termed Bihar a "hidden gem", which has not been discovered by the world. Exuding confidence that the state will do well in the future, Goyal said the image related to law and order issues, loot, and arson held back its progress in the past. The issue of corruption for which the former Chief Minister had gone to jail is history, and transparency is the buzzword now, Goyal said, speaking at an event organised by industry chamber CII ahead of an investor summit in December. He credited Chief Minister Nitish Kumar for having "changed the face of Bihar" by completely transforming the reality on the ground and also the image of the state. "Bihar is one of those hidden gems which has not been discovered by the world," the minister said, asking the industry to go to Bihar soon and not miss the bus. He said the Kumar-led administration backed by the BJP has demonstrated the huge potential of Bihar to the industry and exuded confidence that ...

Trade Connect e-Platform aims to raise India's exports market share: Goyal

The minister said the newer version of the platform will incorporate Hindi and other official languages of India

Goyal urges auto component makers to cut imports, target $100 bn exports

Commerce and Industry Minister Piyush Goyal on Monday asked Indian auto component makers to explore ways to cut reliance on imports and boost local manufacturing to make the country a net exporter of these products. The minister also urged these companies to target USD 100 billion in exports by 2030. Addressing the auto component industry here, he expressed his concern over the continued reliance on foreign suppliers and encouraged domestic manufacturers to enhance local production capabilities. "Many of our component manufacturers still import, I do not know whether (due to) any compulsion or voluntarily, their needs of inputs from Korea, Japan, Taiwan and one of the neighbours. "I do not understand why even two or three levels down, we cannot plan to become indigenous suppliers and manufacturers so that we can then start supplying those components to other countries," Goyal said. With the huge Indian market and global opportunities, the industry can increase the exports to USD 1

Declining bank credit may feature in Piyush Goyal's meet with exporters

The declining bank credit to exporters will hurt the sector, and traders will flag the issue prominently during their meeting with Commerce and Industry Minister Piyush Goyal on September 11, an industry official said on Sunday. While exports grew by 15 per cent in the rupee terms between 2021-22 and 2023-24, the outstanding credit in March 2024 dropped by 5 per cent over the same month in 2022, according to exporters. Apex exporters body Federation of Indian Export Organisation (FIEO) said the export credit growth is not keeping pace with rising exports of the country. "We have seen a decline in export credit between March 2022 and March 2024 despite the need for more credit for longer duration due to hike in prices of commodities, sharp spurt in freight (both sea and air) and the Red Sea crisis, leading to longer voyage time and delayed payment," FIEO Director General Ajay Sahai told PTI. According to FIEO, the value of export credit outstanding has come down to Rs 2,17,406 crore

IMEC to cut logistics costs and boost maritime security, says Piyush Goyal

IMEC aims to boost economic development by fostering connectivity and economic integration between Asia, the Persian Gulf, and Europe

Piyush Goyal for border adjustment tax to safeguard steel industry

Union Commerce and Industry Minister Piyush Goyal's statement comes at a time when the steel industry is seeking protection from imports at predatory prices

Kerala wins top performer award in lists of business-centric reforms

In a huge endorsement of its highly conducive business ecosystem and transparent and inclusive service delivery mechanism, Kerala has emerged as the country leader in two categories of business-centric reforms and seven categories of citizen-centric reforms in the ranking of the Union Ministry of Commerce and Industry. The award was presented at the Conference of State Industries Ministers held on Thursday at Palash Hall (Grand Ball Room) of the Yashobhumi Convention Centre, New Delhi, according to an official release here. Union Minister of Commerce Piyush Goyal presented the Business Reforms Action Plan '22 (BRAP 22) award of the Department for Promotion of Industry and Internal Trade (DPIIT) to P Rajeeve, Minister for Industries, Law and Coir, Government of Kerala, at the conference, Udhyog Sangam 2024, said the release issued by the Kerala State Industrial Development Corporation (KSIDC). Union Minister of State for Commerce & Industry and Electronics & Information ...

Goyal suggests talks on carbon tax issue with top steel industry leaders

Commerce and Industry Minister Piyush Goyal on Thursday suggested discussions on carbon border adjustment tax with top steel industry leaders to promote sustainable manufacturing in the sector. He also asked the industry to target 500 million tonnes steel production by 2047. At present, the industry is eyeing 300 million tonnes by 2030. The minister suggested the industry find newer and better ways on lowering carbon emission and promoting high productivity and quality steel in the country. "Let's try and utilise AI (artificial intelligence) to optimise our production, reduce waste, and improve efficiency across the value chain and work towards a circle economy in a bigger way," he said, while addressing a steel conclave virtually. On carbon tax, he suggested that 4-5 top leaders of the steel industry can sit with him on this important subject for deliberations. The minister added that the government was not able to extend the benefits of the Remission of Duties and Taxes on Expor

Piyush Goyal to chair meet with states on Sept 5, discuss industrial growth

Commerce and Industry Minister Piyush Goyal would chair a meeting of state industry ministers on September 5 to discuss ways to promote industrial growth of the country, an official said. As industry is a state subject, they are key stakeholders in promoting the sector, the official said. "Issues like ways to promote manufacturing, promotion of industries and state issues may come up for deliberations on September 5 here," the official added. The Centre is already taking a number of measures in this direction and that includes reducing compliance burden, promoting ease of doing business and setting up of industrial townships. Recently, the Government of India approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. These industrial areas will be in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Ag