Page 35 - Piyush Goyal

Global south nations need to discuss ways to make supply chains open: Goyal

Global south countries need to discuss ways to make supply chains open, secure, trusted and equitable, Commerce and Industry Minister Piyush Goyal said on Friday. Speaking at the second Voice of Global South Summit, he said the crisis of the COVID-19 pandemic, the impact of climate change and raging geopolitical tensions have disrupted and underscored the fragility of global supply chains. These disruptions have created monumental challenges of food and energy security, cost of living and achievement of the sustainable development goals, Goyal added. "We would like to discuss ways and means for countries of the global south to cooperate and act together to make our supply chains open, secure, trusted, stable, and equitable, thereby making them more resilient," he said. During India's G-20 presidency, the G20 generic framework for mapping global value chains (GVCs) was adopted to make these chains resilient and inclusive, he noted. This framework has been prepared, keeping in mind

Climate action not a burden but opportunity for innovation, growth: Goyal

Commerce and Industry Minister Piyush Goyal has called upon the world leaders to join hands as a global community to construct a future where climate action is not a burden but an opportunity for innovation and growth. While speaking at the APEC Informal Leader's Dialogue in San Francisco on November 16, the minister also highlighted India's environmental leadership in meeting the renewable energy target of 175 gigawatts nine years ahead of the target. "He called upon the world leaders to join hands as a global community to construct a future where sustainability is not a distant aspiration but a way of life and where climate action is not a burden but an opportunity for innovation and growth," the commerce ministry said. Goyal also participated in the Investor Forum of the Partnership for Global Infrastructure and Investment (PGII). The Forum was co-hosted by US Secretary of Commerce Gina Raimondo and Senior Advisor to the President Amos Hochstein with the discussion centred on ..

India granted record 41,010 patents in 2023-24 so far: Piyush Goyal

The Indian patent office has granted "highest" number of 41,010 patents till November 15 this fiscal year, Commerce and Industry Minister Piyush Goyal has said. In 2013-14 fiscal year, 4,227 patents were granted. "It's a record. Highest ever number of patents granted so far in 2023-24," he said in a post on social media platform X. On this, Prime Minister Narendra Modi said this is a "notable feat" and it marks a milestone in India's journey towards an innovation-driven knowledge economy. " India's youth will be great beneficiaries of such strides," he said. The prime minister recently stated that the rise in patent applications in India demonstrates the rising innovative zeal of its youth and is a very positive sign for the times to come. According to a World Intellectual Property Organization report, patent applications by Indians grew 31.6 per cent in 2022, extending an 11-year run of growth unmatched by any other country among the top 10 filers.

Goyal meets YouTube CEO, discusses opportunity to collaborate in India

Union Minister of Commerce and Industry Piyush Goyal on Wednesday (local time) met YouTube CEO Neal Mohan. The two sides discussed how India presents a huge opportunity for YouTube to further expand its collaboration.Taking to X, Piyush Goyal stated, "Delighted to meet Mr. @NealMohan, CEO of YouTube. We discussed how India presents a huge opportunity for @YouTube to further expand collaboration & footprint in the country with its: Thriving digital ecosystem Growing content space Young & diverse demography."Meanwhile, Piyush Goyal, who is on a four-day visit to US, earlier held a meeting with the CEO of Micron Technology Sanjay Mehrotra and discussed how India's growing semiconductor ecosystem presents vast opportunities for company to collaborate and expand its footprint in India.Taking to X, he stated, "Met Mr. Sanjay Mehrotra, CEO & President of @MicronTech. Discussed how India's growing semiconductor ecosystem presents vast opportunities for the company to ...

Goyal meets Micron CEO, discusses options in India semiconductor ecosystem

Union Commerce and Industry Minister Piyush Goyal held a meeting with the CEO of Micron Technology Sanjay Mehrotra on Wednesday (local time) and discussed how India's growing semiconductor ecosystem presents vast opportunities for company to collaborate and expand its footprint in India.Taking to X, Piyush Goyal stated, "Met Mr. Sanjay Mehrotra, CEO & President of @MicronTech. Discussed how India's growing semiconductor ecosystem presents vast opportunities for the company to collaborate & expand its footprint in the country."Earlier this July, Mehrotra had met with Prime Minister Narendra Modi in Gujarat's Gandhinagar and they discussed US chip giant's plans to bolster the semiconductor manufacturing ecosystem within India.In June this year, Micron Technology had announced its plans of investing USD825 million in a new chip assembly and testing plan in Gujarat. India hopes to become a major global hub in semiconductor manufacturing over the next 10 years.Meanwhile, Goyal,

Tesla on way to double its components imports from India: Piyush Goyal

In September, Goyal had said the company is looking to source components worth $1.9 billion from India this calendar year, compared to $1 billion in 2022

'My apologies': Elon Musk unable to meet Piyush Goyal at Tesla facility

Elon Musk was unable to meet with Piyush Goyal in person as he was unwell and could not travel to California

Piyush Goyal, US trade rep Katherine Tai discuss trade boost in key meet

Commerce and Industry Minister Piyush Goyal met the US Trade Representative (USTR) Katherine Tai and discussed ways to further boost trade and investments between the two countries. Goyal is in the US for a four-day visit. He reached San Francisco on November 13. He also met Dukgeun Ahn, Minister of Trade, Korea, and Gan Kim Yong, Minister of Trade and Industry, Singapore. These ministers are in the US for the Indo-Pacific Economic Framework (IPEF) meeting. "Wonderful meeting my friend Ambassador Katherine Tai, the US Trade Representative. We discussed ways to further deepen our trade & investment ties along with convergence on key WTO issues for a favourable outcome at MC13," Goyal said on the social platform X. The 164-member World Trade Organization (WTO) is holding its 13th ministerial conference (MC) at Abu Dhabi in February next year. During the ministerial meetings in San Francisco, Goyal discussed potential collaboration under the Indo-Pacific Economic Framework (IPEF), .

Tesla to double its components imports from India, says Piyush Goyal

He said in September Tesla was aiming to source components worth between $1.7 billion and $1.9 billion from India this year, having bought $1 billion of components last year

Goyal arrives in San Francisco; begins bilateral with IPEF partner nations

During the meeting, the leaders emphasised ways of enhancing cooperation between India and Singapore in emerging and futuristic areas

Piyush Goyal to attend IPEF next week, meet execs for India investment

The IPEF ministerial meeting is scheduled to take place during November 13-14, which is likely to see 'significant updates' on the progress of negotiations

Tesla to import completely made electric cars from Germany into India

Earlier this month, Reuters reported that Tesla is planning to build a $26,838 car at its factory near Berlin

Piyush Goyal to meet Tesla's Musk amid market entry talks: Report

Tesla and India have been in talks for several months with the US carmaker open to setting up a factory but also keen to get lower import taxes for some of its high-end vehicles

Looking at liberalising some restrictions on SEZ units, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday said the government is looking at easing certain restrictions for units in the special economic zones (SEZ) to promote the sector's growth. SEZs in India are treated as foreign territories for trade and customs duties, with restrictions on duty-free domestic sales. "We are looking at ways and means to liberalise some of these restrictions on SEZ units. It's under consideration...We are discussing it with all the stakeholders and hopefully that itself will give a significant boost to the SEZ units," Goyal said here at an industry chamber function. Regarding the industry's demand to extend benefits of the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme to SEZs, he said the ministry will go about it "cautiously". "At some point in time we will consider it once we are very confident that it will not lead to WTO non-compliance," he added. In these zones, the largest areas of exports are petroleum products and ...

Will not accept unfair taxes on steel, aluminum industry: Piyush Goyal

Expressing serious concerns over the European Union's move to impose carbon tax on imports from certain sectors like steel, Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but 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. "I will assure you that we are extremely concerned about CBAM...We are taking it up with the WTO very very seriously. We shall try to work and fight to get a fair deal for the Indian ..

Minister flags off 100 vans for sale of 'Bharat' Atta at Rs 27.50/kg

Bharat Atta will be distributed by NCCF, NAFED, physical outlets of Kendriya Bhandar and also be made available at other cooperative and retail stores

BJP will form double engine government in Madhya Pradesh: Piyush Goyal

The Union Minister lauded the popularity of Narendra Modi and his determination to take the nation to new heights

Quality standards are a passport for trade, says commerce minister Goyal

Agreeing that quality standards are a passport for trade, Commerce and Consumer Affairs Minister Piyush Goyal on Friday said India is making policy efforts to ensure consumers get out of the good-old day's mindset of two standards -- local and export quality -- of products. Goyal, while addressing the G-20 Standards Dialogue here, recalled that in the good old days, every product had a mark for 'export quality' and consumers who could afford used to pick up export quality goods. "Our effort is to move out of that mindset. Our effort is that every product that is made in India will be a high-quality product. When a consumer picks up a product will be reassured of high quality and will not have to look at other products for 'x' quality. Policymaking in India is moving in that direction," he said. He also said that standards are like patents and he cannot but agree with what the chief of the Bureau of Indian Standards (BIS) Pramod Kumar Tiwari looks at standards as a passport to ...

Govt weighs local tax options to avoid EU carbon levy: Piyush Goyal

"We will find a solution around a domestic tax to take care of equating with European taxes on carbon emissions," he said at an industry event

Goyal urges G7 members to collaborate to facilitate cross border trade

Commerce and Industry Minister Piyush Goyal on Saturday urged the countries participating in the G7 trade ministers meeting to enhance collaboration on a regulatory framework to facilitate cross border trade. The Group of Seven (G7) trade ministers meeting was held in Osaka, Japan. Under its G7 presidency this year, Japan has invited India, along with a few other invitee countries (Australia, Chile, Indonesia, and Kenya) to participate in the outreach programme held on October 28. In the meeting, Goyal urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade, an official statement said. He said the Covid-19 pandemic and geopolitical events have highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global inflation. The Russia-Ukraine war, conflict between Israel and Hamas and global economic uncertainties are impacting flow of goods across the world. ..