Page 34 - Piyush Goyal

Mega events lined up ahead to elevate India's position globally: Goyal

A series of mega-events are slated in the coming months to elevate India's position as a global economic powerhouse, Commerce and Industry Minister Piyush Goyal has said. The planned lineup of mega events commences with the Aatmanirbhar Bharat Utsav scheduled from January 3-10 at Bharat Mandapam in the national capital. This event aims to exhibit a rich array of offerings -- including products from artisans, weavers, khadi, tribal crafts, MSMEs (Micro, Small and Medium Enterprises), and cottage industries -- and provide a direct interface between producers and consumers. Following this, the 'Indus Food' exhibition will be held at India Exposition Mart, Greater Noida, from January 8-10. The Bharat Mobility Global Expo 2024 will take place on February 1-3 at Bharat Mandapam. "Covering a sprawling 10 lakh square feet, this extensive mobility exposition will feature stakeholders across the automobile and mobility sector, showcasing their strengths and innovations. The expo will highli

Govt to extend RoDTEP benefits to e-commerce exports: Piyush Goyal

The RoDTEP scheme, which came into effect three years ago, refunds the embedded non-creditable central, state, and local levies paid on inputs to exporters

National e-commerce policy in final stages, may be announced soon: Goyal

The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and expected to be announced very soon, Union Minister Piyush Goyal said on Thursday. In August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy. "It is at the final stages of discussion at the highest level in the government. We hope to come out very soon," the commerce and industry minister told reporters here when asked about the policy. Earlier, the ministry issued two draft national e-commerce policies. The 2019 draft proposed to address six broad areas of the e-commerce ecosystem - data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce. Domestic traders body CAIT has time and again demanded roll out of the policy as they ..

Govt took many pro-active steps to control prices of food items: Goyal

Food and Consumer Affairs Minister Piyush Goyal on Sunday noted that the Centre has taken many pro-active steps in last few years to control retail prices of food items and said the government will keep inflation under control while ensuring country's economic growth. He was addressing an event, organised by the ministry here, to celebrate National Consumers Day. "Today, India has become the fastest growing large economy. Going forward, we will keep inflation under check and also ensure economic growth," Goyal said. Retail inflation inched up to a three-month high of 5.55 per cent in November driven by higher food prices, according to latest official data. The retail inflation based on the Consumer Price Index (CPI) was at 4.87 per cent in October. Inflation had been declining since August when it touched 6.83 per cent. On steps taken by the central government, Goyal highlighted that 140 new price monitoring centres have been set up to keep a close watch on wholesale and retail

Zerodha's Nithin Kamath joins Centre's reconstituted startup advisory panel

Kamath said that he was excited to join the council and that India needs to unlock its domestic capital to nurture startups

Piyush Goyal discusses progress of FTA deal during EFTA delegation meet

The primary objective of these negotiations is to establish a "fair, mutually beneficial, and comprehensive" trade deal between India and EFTA

Union minister Piyush Goyal to chair Board of Trade meeting on Dec 17

Commerce and Industry Minister Piyush Goyal will chair a meeting of the Board of Trade on December 17 to discuss ways to boost exports, an official said. Headed by the minister, the board includes participants from various states, union territories, and senior officials from public and private sectors. The official said that representatives of export promotion councils will present their views on the exports, besides the team of Government e-marketplace (GeM) will give a detailed presentation about the public procurement portal. The procurement of goods and services from the government portal has crossed Rs 2 lakh crore in November due to higher buying activities by different ministries and departments. The board provides an opportunity to have regular discussions and consultations with trade and industry and advise the government on policy measures related to FTP to achieve the objective of boosting India's trade. It also provides a platform for state governments and union ...

Govt working to ensure export sector becomes self-sustaining: Piyush Goyal

India is aiming to achieve the $2 trillion export target by 2030 and in the process it is moving this industry out of the government support to make it self-sustaining and cost competitive, Union minister Piyush Goyal said on Saturday. Addressing Infinity Forum 2.0 virtually at Gujarat Finance Tec-City (GIFT City), he said the International Financial Services Centre (IFSC) at GIFT City has become a lynchpin in propelling India's export-led growth. GIFT City will play a pivotal role in powering India's exports to $2 trillion by 2030, and then onwards to up to $10 trillion that it envisages to see by 2047, said the Union Commerce and Industry Minister. "During the next 2-3 decades we hope to see sustained, inclusive growth, during which we are confident of offering sustainable and inclusive development for every single person in the country. In that story, our international engagements will play a very important role," he said. He said India's target of crossing a $1 trillion economy

World recognizes India only option for large demand: Piyush Goyal

The Union Commerce Minister emphasized the unprecedented opportunity presented by 1.4 billion people aspiring for a better future

$40 billion apparel exports target by 2030 is achievable, Goyal confident

Commerce and Industry Minister Piyush Goyal on Friday exuded confidence that the country's apparel exports would reach the target of USD 40 billion by 2030. He said that the government is taking steps to promote exports such as entering into free trade agreements and promoting brand India. The minister also asked the apparel exporters to procure raw materials from Indian players and not depend on "opaque" foreign suppliers and suggested not to fall for "predatory products". "USD 40 billion target by 2030 is clearly achievable," Goyal said here while awarding apparel exporters. Speaking at the event, Apparel Export Promotion Council of India (AEPC) Chairman Naren Goenka said that the sector exports grew at a rate of 30.35 per cent in 2021-22 over 2020-21, and 1.10 per cent in 2022-23 over 2021-22. "We are vigilant of the fact that India's apparel exports have been constant to the tune of 3-4 per cent of global export share during past 3-4 years and hence AEPC has been very proactiv

India will address EU's carbon tax issue; will retaliate if required: Goyal

India will address the issue of the European Union's plan to impose a carbon tax on certain imported goods, Commerce and Industry Minister Piyush Goyal on Friday said, adding that "I will retaliate" if required. The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026. However, from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, will have to share data with regard to carbon emissions with the EU. "Bharat will address the problem of CBAM with confidence, and we will find solutions. We will see how we can convert CBAM to our advantage if it comes in. Of course, I will retaliate. You need not worry about it," Goyal said here at an industry chamber event. According to a report of the think tank Global Trade Research Initiative (GTRI), CBAM will translate into a 20-35 per cent tax on select imports into the EU, starti

Govt recognises 114,902 entities as startups as on Oct 31: Goyal tells LS

The government has recognised 1,14,902 entities as startups as on October 31, Parliament was informed on Wednesday. These eligible firms are allowed to seek fiscal incentives under the Startup India Action Plan, which was launched in January 2016, and that includes income tax exemption for three years. Replying to a question in the Lok Sabha, Commerce and Industry Piyush Goyal said the action plan includes 19 items spanning across areas such as simplification and handholding, funding support and incentives and industry-academia partnership and incubation. The Department for Promotion of Industry and Internal Trade (DPIIT) "has recognised 1,14,902 entities as startups as on 31st October 2023," he said. Replying to a separate question, Minister of State for Commerce and Industry Anupriya Patel said subdued demand in major export destinations such as the US, Hong Kong, the Middle East and China and availability of raw materials at competitive rates were some of the challenges faced by

Don't divide India on basis of north-south; Modi always unites: Goyal

Union Minister Piyush Goyal on Wednesday asked the opposition parties not to divide the country on the basis of north and south India and asked if the INDIA bloc constituents support the remarks against Hindi heartland states by a DMK MP. Replying to a question related to his Consumer Affairs Ministry during the Question Hour in the Lok Sabha, Goyal said Prime Minister Narendra Modi has come up with the idea of One Nation, One Ration Card so that the whole country could be united through a single transparent system of getting subsidised foodgrain anywhere. "The PM always works to unite the people. But the opposition is trying to divide the country. Some of them even talked about North and South India. Please stop dividing the country," he said amidst vocal objections by some opposition members. Unwilling to relent to the objections, the minister hit back, saying, Do you support the statement of a member made in this House yesterday. Do INDI alliance members support the statement of

US, Indian CEOs provide updates on advancing bilateral commercial ties

Top CEOs from India and the United States have provided updates on the status of their recommendations on advancing bilateral commercial ties during a meeting co-chaired by Commerce Secretary Gina Raimondo and Union Commerce and Industry Minister Piyush Goyal, an official statement said here. The virtual meeting of the India-US CEO Forum convened by Raimondo and Goyal on November 30 was a follow-up to the March 2023 forum meeting in New Delhi, according to the statement issued on Monday. During the meeting, US and Indian CEOs provided both governments with updates on the status of their recommendations on how to advance US-India commercial ties, it said. They also discussed topics pertinent across sectors, including supply chain resiliency, workforce development, regulatory and standards harmonization, and economic collaboration. Raimondo and Goyal highlighted recent government initiatives that were inspired by the CEOs' recommendations and encouraged the forum members to focus on

Govt to approve 10-11 testing labs set ups for cotton, textiles by Dec 16

The government is planning to approve setting up of 10-11 testing laboratories across the country to ensure high quality of cotton and textiles for both the domestic consumers as well as for the export markets, Union Minister Piyush Goyal said on Saturday. "I have discussed with the Textile Ministry, the Consumer Affairs Department, who will work together with the Bureau of Indian Standards (BIS) for setting up high quality cotton and textile testing laboratories," Goyal, the Union Minister for Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution, said. "In the next 15 days, by December 16, we will approve a series of laboratories across the country with an investment of about USD 6-7 million," he said. Addressing the four-day 81st Plenary Meeting of the International Cotton Advisory Committee (ICAC) that started on Saturday, the minister said, "We want the most modern and high-quality testing laboratories to come up in different parts of the country, s

Confident of growth in export this year despite global uncertainties: Goyal

Commerce and Industry Minister Piyush Goyal on Friday said there will be growth in the country's exports despite global uncertainties. He, however, indicated that the growth may slow down. India has been able to increase exports of goods and services by almost 55 per cent -- from USD 500 billion in 2021 to USD 776 billion last year, he said. "Current year, with two conflicts going on around the world, recession setting in the developed economies, we may see that the growth may slow down, but nevertheless, we are confident of growth in the export numbers even in the current year," Goyal said at a function. A conflict between Israel and Hamas is continuing in the Middle East, while the Ukraine-Russia war is still going on. Besides, inflation in developed countries is impacting global demand for goods. India's merchandise exports rose 6.21 per cent to USD 33.57 billion in October this year, even as the trade deficit widened to a record high of USD 31.46 billion during the ...

BJP leader from backward community will become CM: Goyal exudes confidence

Assembly elections in Telangana are scheduled to be held in a single phase on November 30

Govt, Amazon partner to leverage 'districts as export hubs' initiative

The commerce ministry on Thursday said it has inked an agreement with US-based Amazon to provide training to MSMEs in 20 identified districts in areas such as making digital catalogues and tax-related issues with a view to promoting exports through e-commerce medium. The capacity building session will allow MSMEs to learn about imaging, digital cataloguing of their products, tax advisory amongst others, it said in a statement. The MoU was signed in the presence of Director General of Foreign Trade (DGF) Santosh Sarangi; Chetan Krishnaswamy (Vice President, Public Policy Amazon); and Bhupen Wakankar (Director Global Trade Amazon India). DGFT is an arm of the commerce ministry which deals with import and export-related issues of the country. "To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports f

India closer to agreement with Tesla to import EVs, set up facility

Tesla would commit an initial minimum investment in any plant of around $2 billion and would look to increase purchases of auto parts from the nation to as much as $15 billion

India-UK FTA: Issues to be resolved in coming weeks, says Piyush Goyal

Goyal said both sides had several rounds of negotiations, and 20 out of 26 chapters have been sealed