Page 30 - Piyush Goyal

High quality standards to help become developed economy by 2047: Goyal

Food and Consumer Affairs Minister Piyush Goyal on Wednesday said high-quality standards in products and services will help India achieve its ambition of becoming a developed economy by 2047. He also stressed that "standards must support creating robust enforcement ecosystem and that they are developed after extensive consultation with all stakeholder groups". Addressing the onboarding workshop for Bureau of Indian Standards (BIS) technical committee members at the National Institute for Training in Standardization (NITS), Goyal said standards are a cornerstone of domestic trade and export, a facilitator of innovation and efficiency contributing towards national growth. As members of technical committees formulating Indian Standards, they have an enormous responsibility to ensure that standards embed the principles of sustainability, facilitate the fight against counterfeit goods and support MSMEs and startups to become more competitive, he said in a statement. Goyal further said e

Chhattisgarh Assembly polls: Cabinet clears proposal to procure more paddy

The state government will now buy 2,000 kg of paddy per acre. Previously, it bought 1,500 kg of paddy per acre

Centre likely to lower basmati MEP, tightens stock limits on tur and urad

Food Min Piyush Goyal is believed to have held a high-level meeting with exporters and others to understand the ground situation, though there has been no official confirmation of any such meeting

G20 presidency provided chance to showcase development undertaken: Goyal

He also underlined the Government's commitment to improving the ease of doing business in India, making it easier to start and run businesses

New Parliament building will become symbol of 'Atmanirbhar Bharat': Goyal

Leader of the House in Rajya Sabha Piyush Goyal on Tuesday said that if the various challenges India faced had been resolved in a timely manner, the country could have become a developed nation before 2047. He also said the new Parliament building will become a symbol of 'Atmanirbhar Bharat'. The Union minister was addressing a gathering at the historic Central Hall of the old Parliament building for a function to commemorate the rich legacy of the Parliament of India. The new building has now been designated as the 'Parliament House of India'. After the function, the House proceedings will shift to the new building.

Let us resolve to make India corruption-free, developed nation: Goyal

As the Rajya Sabha on Monday started a discussion on Parliament's 75-year journey, Leader of the House and Union Minister Piyush Goyal called for making India a corruption-free and developed nation. When the House assembled for the five-day session, Chairman Jagdeep Dhankhar lauded the prime minister's vision for the successful G20 Summit. He also announced that the House will discuss 'Parliamentary Journey of 75 Years Starting from Samvidhan Sabha -Achievements, Experiences, Memories, and Learnings'. The chairman said all members will get an opportunity to express their views during the six-hour discussion. Leader of the Opposition and Congress president Mallikarjun Kharge also requested the chairman to revoke the suspension of two AAP members, Sanjay Singh and Raghav Chadha, at a time when the House is holding the session and moving into the new Parliament building. Initiating the discussion, Leader of the House Goyal recalled the contribution made by various members hailing fro

Bharat Mandapam, Yashobhoomi to promote trade, employment: Piyush Goyal

The two world class convention and exhibition centres -- Bharat Mandapam at Pragati Maidan and Yashobhoomi at Dwarka -- will help promote trade, industry and employment, Commerce and Industry Minister Piyush Goyal said on Sunday. Prime Minister Narendra Modi dedicated the first phase of India International Convention and Expo Centre - 'Yashobhoomi' to the nation at Dwarka on Sunday, while the ITPO's Bharat Mandapam was inaugurated on July 26. India Trade Promotion Organization (ITPO) is an arm of the commerce ministry. "Bharat Mandapam and Yashobhoomi will promote trade, industry, export and employment. Yashobhoomi will promote MSME sector, farmers and artisans and provide new opportunities and markets for them," Goyal said. He added that steps to make laws simpler, supporting startups, and increasing trade will help to promote the country's economic growth. On PM Vishwakarma Yojana, Goyal said that the prime minister has recognised the hard work of artisans and the scheme will ho

Explore new markets to reach $10 bn exports by 2030: Goyal to spice sector

The spice industry should work together to explore new markets, strengthen the existing ones and focus on value-added products to reach USD 10 billion exports by 2030, Union Minister for Commerce and Industry Piyush Goyal said on Saturday. "Currently our total exports of spices is at USD 4 billion. Rather than exporting spice in the raw form only, we should look for value-added products as we go forward. We should start building up more markets by exploring new markets and strengthening the existing ones. We should look at creating factories for value-added products to reach USD 10 billion exports by 2030 for the spices sector," Goyal said addressing the World Spice Congress 2023. Citing an example, the minister said, during Covid-19 pandemic, the demand for turmeric grew tremendously because of its medicinal properties and in terms of exports it has the potential to reach USD 2 billion. "If we focus all our energy on tumeric by developing value-added products, turmeric exports alon

Study practices that stop engineers participation in global projects: Goyal

Commerce and Industry Minister Piyush Goyal on Friday called upon the Services Export Promotion Council to conduct a study on international practices that restrict Indian engineering firms' participation in global projects. He said that the government will explore reciprocal actions based on this research study to ensure a level playing field for Indian engineers and businesses. The minister also encouraged the engineering community to achieve the USD 100 billion export target in engineering services, design, construction, and research and development (R&D) by 2030. He said this during his address at the 'Global Services Export Conclave on Design, Engineering, Construction, R&D and Environmental Services: Sustainable Energy, Transportation, and Infrastructure' here. Further, the minister urged Indian companies to expand globally, capturing new markets and leveraging India's abundant talent pool of STEM (Science, Technology, Engineering, or Mathematics) graduates to become ...

India not considering import tax incentives for Tesla, says Piyush Goyal

Musk-led firm plans to source parts worth $1.9 billion from India this year, says Goyal

Use of green energy to help industry deal with EU's carbon tax: Goyal

The government's initiative to increase the use of green energy and some policy interventions would help the Indian industry tide over the impact of the EU's decision to impose a carbon tax on sectors like steel and aluminium, Commerce Minister Piyush Goyal said on Wednesday. He said that India is in dialogue with the European Union and with other countries to see how these new initiatives like CABM (carbon border adjustment mechanism) will impact Indian industry and manufacturers. The minister, however, assured the industry that the government will protect its interest. "Any amount of laws any country may bring out, we will ensure that it doesn't hurt any of your businesses. That you can rest assured...I personally look at all these not as an impediment but I am continuously examining to see how we can convert this so-called problem CBAM into an advantage for the Indian industry," he said here at an event of auto component makers. The EU is introducing the CBAM from October 1 this

India to draft new policy in push for EV investment, says Piyush Goyal

Piyush Goyal's comments come as US EV maker Tesla continues talks with Narendra Modi's administration on the possibility of building a factory in India.

Tesla looking at sourcing components worth $1.9 billion from India: Goyal

The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector

India, Saudi Arabia can look at doubling bilateral trade to $100 bn: Goyal

India and Saudi Arabia can look at doubling bilateral trade to USD 100 billion in the coming years from about USD 52 billion at present, Commerce and Industry Minister Piyush Goyal said on Monday. He said the two countries can also look at a more balanced trade. The minister suggested Saudi Arabia to open an office of their sovereign wealth fund in GIFT city in Gujarat and industry chamber Ficci set up an office in Riyadh in partnership with Invest India, and the commerce ministry to facilitate investments. "Maybe this could be a way to kick-start a better flow of trade and investments and also to see how we can double our trade, which is currently about USD 52 billion. "Can we be more ambitious and take it to USD 100 billion, can we look at a more balanced trade, can we look at India becoming the provider of food security to Saudi Arabia, while Saudi Arabia helps us provide more energy security like oil and fertiliser. So, it will really be a win-win and complimentary relation," .

India's exports increased despite recession, with lowest inflation: Goyal

India's exports increased to 776 billion USD from 500 billion, two years ago, and this spectacular growth was achieved notwithstanding the recession, the Russia-Ukraine war, and the difficult pandemic times, Union Commerce and Industry Minister Piyush Goyal said on Thursday. This remarkable achievement in two years was due to the efforts of Prime Minister Narendra Modi, who felt that both the Centre and state governments should collectively work in the spirit of cooperative federalism for the better future of all the citizens, he said while addressing the Confederation of Indian Textile Industry (CITI's) 11th Asian Textile Conference, here. "Last year was a difficult period. Everybody felt that exports could not be sustained. But after growing from 500 billion dollars to 675 billion dollars in 2021-22, our exports rose to 776 billion dollars from 675 in 2022-23," he said and added that this was a record achievement registered in two years' time. "The Covid has not yet gone and despi

Projects worth Rs 12 trn planned under Gati Shakti initiative: Piyush Goyal

Gati Shakti also ensures that if an optical fibre cable or water pipeline has to be laid,it is done in advance, so that the road is not dug up repeatedly

Working on private sector access to non-sensitive data: Piyush Goyal

Business Standard Gati-Shakti connect: We have strong firewalls and cyber audits, says Piyush Goyal

Top headlines: Pharma likely to take 5-6% price hikes, FDI outflow soars

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Exporters capable of coming out as winners from global uncertainties: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that exporters will come out as winners from the impact of the current global uncertainties. He said there are challenges on the global trade front due to the ongoing geo-political situation, concerns on inflation, and slowing growth in key economies. "We do have challenges but our business people have the ability and agility to come out as winners from this adverse situation," he said here while addressing exporters at an event organised by the Federation of Indian Export Organisations (FIEO). He also exuded confidence that the country's goods and services exports would reach USD 2 trillion by 2030. The minister appealed to the industry to focus on quality and innovation with a view to increasing exports. India's exports contracted by 15.88 per cent in July, for the sixth month in a row, to USD 32.25 billion due to a global slowdown and fall in shipments of key sectors like petroleum, gems and jewellery, accord

India discusses launch of UPI in New Zealand to enable ease of doing biz

India's exports to New Zealand were $548 million in FY23, up from $487.6 million in FY22