Page 34 - Piyush Goyal

Rajasthan govt trying to mislead public in name of announcements: Goyal

Union Minister Piyush Goyal on Sunday targeted the Congress government in Rajasthan alleging that after four-and-a-half years of its rule, it is trying to mislead the public in the name of announcements. Accusing the state government of blocking the schemes of the central government, he said the Centre has approved a plan of Rs 5,782 crore to bring water from Chambal in Alwar, but the "corrupt Gehlot government has blocked that too". Goyal and BJP's national spokesperson and MP Rajyavardhan Singh Rathore interacted with media in Kotputli on the public welfare policies of the central government. The Union Minister said that the state government could not even fulfil the promises made in its manifesto. "Promises such as providing unemployment allowance and loan waiver of farmers turned out to be lies," Goyal alleged. He said that after four-and-a-half years of the state Congress government, it is "working to mislead the public" in the name of announcements. To a question on the rec

Govt reform measures helping Indian economy to grow at faster pace: Goyal

The commerce and industry minister also said that the government has managed the rate of inflation in single digits

India can look for FTA talks with Africa to further strengthen ties: Goyal

India can also look for negotiating a free trade agreement with Africa to further strengthen economic ties, he said

Indian firms looking at business opportunities in Africa, says Piyush Goyal

Indian companies are looking at business opportunities in Africa as the continent holds huge potential to boost trade and investments, Commerce and Industry Minister Piyush Goyal said on Thursday. He also said that businesses of both regions should look at increasing bilateral trade beyond the target of USD 200 billion by 2030. The bilateral trade at present is about USD 100 billion. India can also look for negotiating a free trade agreement with Africa to further strengthen economic ties, he said. "Indian companies are looking at many more opportunities, and they can help increase economic growth in Africa and create jobs," Goyal said at CII-EXIM Bank Conclave on 'India-Africa Growth Partnership'. In terms of increasing trade, "we have not reached our true potential", he added. Goyal also said India works as a friend and brother with Africa and does not "take over" assets like power transmission lines and ports.

GatiShakti must be leveraged to benefit sectors beyond infra: Piyush Goyal

He highlighted that the area development approach under PM GatiShakti can be used for engaging with aspirational districts of NITI Aayog

Piyush Goyal, US trade representative Tai to hold virtual meet today

US Trade Representative Katherine Tai will on Thursday hold a virtual meeting with Union Commerce and Industries Minister Piyush Goyal. The meeting comes ahead of Prime Minister Narendra Modi's official State Visit to the US next week at the invitation of President Joe Biden. During the meeting, Tai and Goyal are expected to put the finishing touches on the announcements being planned for next week. Bilateral trade between India and the US has nearly doubled in the Modi government's nine years. Last year, trade between the countries was over USD 191 billion. On Tuesday, US Chambers of Commerce President and CEO Suzanne Clark urged Modi and Biden to work towards achieving bilateral trade of USD 500 billion per annum. Speaking at the India Ideas Summit of the US-India Business Council, Clark said, "By reaching that ambitious bilateral trade target (of USD 500 billion), together we can demonstrate to the world that the future of the global economy will be anchored by democracy, free

India-UAE aim to double non-oil trade to $100 bn by 2030: Piyush Goyal

Joint committee of officials from both sides to review terms of CEPA, which came into force on May 1, 2022

India, UAE central banks discuss rupee-dirham trade progression: Goyal

Discussions between the central banks of India and UAE on promoting bilateral trade in the rupee and dirham to reduce transaction cost is progressing at a "very" fast pace, Commerce and Industry Minister Piyush Goyal said on Monday. As the top leaders of both countries are decisive, so one "can imagine good outcomes very soon" on this, he added. India and the UAE already implemented a free trade agreement (FTA) in May last year to give a boost to bilateral trade and economic ties. The central banks of both countries are discussing the standard operating procedures and modalities. These talks were started in March 2022, and now "it is about a year since then, but both the countries have made significant progress," Goyal told reporters here. The RBI and the Central Bank of the UAE have been in a "very active" dialogue, and the finance ministry here is also "very" supportive and handling the entire issue, he said. "I am sure that given the high level of engagement on both sides, not

India, UAE to raise non-petroleum trade to $100 bn by 2030: Piyush Goyal

India and the United Arab Emirates have mutually agreed to raise non-petroleum bilateral trade between the two countries to $100 billion by 2030, the South Asian nation's trade minister said on Monday

In a first, Centre to review PLI scheme to sort out teething issues

Interactions with line ministries lined up to seek feedback

Goyal appeals freight forwarder industry to be honest, transparent in biz

Commerce and Industry Minister Piyush Goyal on Friday appealed to the freight forwarder industry to be transparent and honest in their work as it would help in promoting trade. He also suggested them to advise their clients to follow honest practices and become whistle-blowers if somebody is doing any wrong. "In our effort to clean up the system, we need your support...we wish to have a system where we can trust you blindly...Become transparent and honest in your business," he said at the event of the Federation of Freight Forwarders Associations in India (FFFAI). Goyal also said that the government is taking steps to boost economic growth. He added that huge forex reserves are there to bridge the current account deficit for the next 5-6 years. The minister said that the country's exports touched an all-time high in 2022-23 despite global uncertainties. Speaking at the event, CBIC Chairman Vivek Johri also asked the industry to do the KYC of their clients properly as they should

India is open to negotiate trade agreement with Africa: Piyush Goyal

India has expressed interest in negotiating a free trade agreement (FTA) with Africa with an aim to boost economic ties between the two regions. This was stated by commerce and industry Minister Piyush Goyal during his interaction with fifteen ambassadors from several countries of the Africa region here on Thursday. "India is open to FTA negotiations bilaterally or individually with African countries or Africa as a whole," he said. India would act as a trusted partner to expand trade, commerce, business, investment and opportunities with Africa, he said. In such agreements, two or more trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them. Besides, they ease norms for promoting trade in services and attract investments. The 15 ambassadors are from countries, including Algeria, Botswana, Egypt, Ghana, Republic of Guinea, Kenya, Malawi, Mozambique, Morocco, Rwanda, South Africa, Tanzania, Togo, Uganda and Zimbabwe. T

Government accords priority to keep prices under check: Piyush Goyal

Commerce and industry minister Piyush Goyal on Wednesday said the government accords priority to keeping prices under check and that is the reason why inflation is low in India as compared to several developed nations. He said that a group of ministers regularly meets and discuss the price situation. "Prime Minister Narendra Modi gives priority to keep prices under check," Goyal told reporters here while briefing about increase of Rs 143 in the minimum support price (MSP) of paddy to Rs 2,183 per quintal for this year. He added that before 2014, the average inflation rate used to be at 10-12 per cent, but after the Modi government came to power the average rate of inflation in the last nine years has come down to 4.5 per cent. "On one side we are increasing MSP and on the other hand, we have kept the inflation under control," he said. The prices in India are much lower when compared to most of developed countries, where inflation is in double digits. Wholesale prices in India fel

Invest India to set up desks in all states to promote investment: Goyal

Officials of the Directorate General of Foreign Trade would be shifted to 'Invest India', which will set up trade and investment desks in each state of the country, Union Minister Piyush Goyal said here on Friday. These desks will promote investments and exports, he said, adding that work of the DGFT will be moved online so that no one will need to visit offices. Interacting with industry captains in Panaji in presence of Goa Chief Minister Pramod Sawant, the Union Minister for Commerce and Industry said Invest India, which was helping foreign investors, will now also help domestic investors. "They (Invest India) will encourage more investment and also partnerships between the industries. They will also do match making," Goyal said. Goyal said his ministry would be inviting 20-30 top pharma players to create four to five hubs of the sector in different states, including Goa. Efforts will be taken to expand pharma industries in states like Goa, Gujarat, Hyderabad (Telangana), Himac

Green energy to agri, winners of Startup India to get 'handholding support'

As a part of the handholding exercise, multiple virtual and physical sessions, delegations, showcases, and programs of specialised support will be organised

Huge opportunities will open up when exports touch $2 trn by 2030: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said huge opportunities for people and businesses will be opened up when the country's goods and services exports touch USD 2 trillion by 2030. In the last two years, he said the country's exports jumped from USD 500 billion to USD 767 billion in 2022-23. India is a USD 3.5 trillion-economy today and will become at least USD 35 trillion- economy by 2047 and "imagine what opportunities it will open up for all the people of India," he said. According to him, by 2030, "we will see USD 2 trillion of exports from India, imagine the opportunities that it will open up". At the Times Network India Economic Conclave here, the minister also said the country's economy is growing at a faster pace and it is clearly reflected from the 7.2 per cent GDP growth in 2022-23. "India is in the mode of stability with a proactive government strengthening every element of the economy in a manner which will hold us in good stead in our pursuit to mak

7.2% GDP growth is historic given the global situation: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said a 7.2 per cent growth in GDP in 2022-23 is historic, given the current global economic situation, and going forward India would emerge as a developed nation in the next 25 years. Commenting on Morgan Stanley's report, he said it reflects India's growing global image and fast economic growth. India continues to maintain its streak of world-beating economic growth after GDP for the March quarter beat all expectations with a 6.1 per cent expansion that helped push the annual growth rate to 7.2 per cent. Morgan Stanley in its report said that India, under Prime Minister Narendra Modi, has transformed, gaining a position in the world order and becoming a key driver for Asia and global growth. Last year was challenging as the world was coming out of the impact of the Covid pandemic and the war between Russia and Ukraine, he said, adding that in such a background, developed economy was severely impacted but steps taken by the ..

No power can stop India from becoming a developed nation: Piyush Goyal

Diplomacy is aimed at building trust between the nations and it will be a driving force in India's success, said Minister of Commerce and Industry, Consumer Affairs, and Textiles, Piyush Goyal

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Quality gets better market, need to change mindset about quality: Goyal

Asserting that quality gets better market, Consumer Affairs Minister Piyush Goyal on Wednesday stressed the need to change the country's mindset about the quality of products and services. Addressing the 44th plenary meeting of International Standard Organisation (ISO) Technical Committee on Consumer Policy, Goyal said, "Quality is not an abstract term. Quality is not for goods alone but how you provide service. Quality is omnipresent." "Quality is what consumers are demanding today. Good quality can have an influence on our economy, ability to attract investments, international trade...," he said. Consumer right, consumer safety and consumer satisfaction are extremely important in this highly globalised world, he said and noted consumers can play a crucial role in shaping markets and driving economic growth. Stating that India has a great opportunity to become the world's third-largest economy in the next 4-5 years, the Minister said young population, huge talent and skill deploym