Page 36 - Piyush Goyal

GCC keen to 'quickly' start talks for free trade agreement: Goyal

The Gulf Cooperation Council (GCC) has expressed the desire to "quickly" get back on the negotiating table to discuss a potential trade agreement, Commerce and Industry Minister Piyush Goyal said on Thursday. Last year, both the regions agreed to pursue an FTA and resume the negotiations. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. The council is the largest trading bloc of India. "We have large investments coming from GCC countries. We already have a FTA with UAEThe GCC countries led by Saudi Arabia have expressed the desire to quickly get back on the negotiating table to discuss potential agreements with the GCC countries. Many GCC member nations have also approached India individually with the request to enter into a bilateral agreement," he told reporters here. The minister is here for the G20 trade and investment ministerial meeting. Among the economic regions, GCC is the top source of imports. Imports from GC

Trade talks with UK progressing extremely well, says Piyush Goyal

The ongoing negotiations between India and the UK on a free trade agreement (FTA) are progressing "extremely well" and it is expected to conclude at an early date, Commerce and Industry Minister Piyush Goyal said on Thursday. He said both sides are confident that they will come out with a "very" balanced, equitable and fair agreement in the interest of businesses and people of both the countries. When asked about the UK's demand on import duty concessions on auto, whiskey and dairy products, he said India and the UK both are pressing hard for their requests and concerns. "There is hardly an issue on which we are not negotiating and I assure you that it will be a strong and hard outcome that will come out of all these negotiations... I believe we have to talk with sincerity, with speed but ensuring balance... and we are both committed to come up with a win-win solution for both countries. I hope it can happen at an early date," Goyal told reporters here. The UK team is here for the

Smooth functioning of dispute settlement mechanism in WTO reforms: Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday said that the smooth functioning of the dispute settlement mechanism and consensus-based decision-making process of the World Trade Organisation (WTO) are key in the process of the reforms of the Geneva-based body. Several developed countries including the US are pitching for WTO reforms. It is also one of the priority areas of discussion in the meeting of trade and investment meetings here. G20 member countries are gathering here for that meeting. Goyal also said that common but differentiated responsibility (CBDR) should be there in the reforms as different countries have different levels of economic development. The dispute resolution mechanism, which is not working properly for the last few years, needs to be re-established consensus based decision-making should continuethese are few central principles, which should be there in the WTO reforms, he told reporters here. Goyal held a bilateral meeting with WTO Director-Gene

Reaching consensus on Jaipur call for action to promote global trade: Goyal

A day ahead of the G20 trade ministers meeting here, Commerce and Industry Minister Piyush Goyal on Wednesday said the member countries are looking at reaching a consensus on a "Jaipur call for action" to help promote industry, MSMEs, and global trade. Representatives of the G20 countries are gathering here for the trade and investment ministerial meeting, scheduled on August 24-25. Briefing the media about the meeting, Goyal said that the officials of the countries have been burning the midnight oil to forge consensus and build a document on the priority areas. When asked whether disagreement among G20 member countries over the Russia-Ukraine conflict is a concern, Goyal said members are trying to build a consensus on as many issues as possible keeping in mind this reality. ".there are some realities on which there is no possibility of a consensus ... barring this we are trying to build a consensus on all the remaining priorities, he added. In February, the meeting of finance lea

Govt restarts onion procurement at Rs 2,410/qtl in Maha, MP: Piyush Goyal

The government on Tuesday restarted onion procurement at Rs 2,410 per quintal in Maharashtra and Madhya Pradesh for its buffer stock, to protect the interest of farmers amid export curbs imposed to arrest the rising retail prices of the key kitchen commodity ahead of festival season. On August 19, the government imposed a 40 per cent export duty on onions to restrict outward shipments and boost local availability amid apprehension about the Kharif output. Briefing media, the Commerce and Consumer Affairs Minister Piyush Goyal said, while imposing export duty on onion, the government simultaneously decided to procure an additional 2 lakh tonnes of onion from farmers for the buffer stock. "This was done to protect the interest of farmers. This will give better prices to the farmers," Goyal said. Cooperatives National Cooperative Consumers' Federation of India Limited (NCCF) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) are undertaking procurement in

BRICS economies catching up with combined GDP of G7 countries: Piyush Goyal

BRICS is the driving force of global growth and the economies in the five-member bloc are catching up with the combined GDP of G7 countries, with significant shifts in the manufacturing process, Union Minister of Commerce Piyush Goyal said here on Monday. He was speaking at the opening ceremony of the BRICS Manufacturing Business Summit. The 21st century has witnessed significant shifts in what we manufacture, how we manufacture and for whom we manufacture, Goyal told delegates from more than 30 countries at the event. Manufacturing is a significant part of trade and industry and plays a pivotal role in the growth of a nation. While its dominance in the economy continues, the 21st century has witnessed a significant shift in what we manufacture, how we manufacture and what we manufacture, he said at the summit. The summit was one of the peripheral events ahead of the 15th BRICS Summit at which the leaders of the member countries - Brazil, Russia, India, China and South Africa - wil

Laptop can be quite a potent source of leakage: Goyal on import restriction

Union minister of commerce and industry Piyush Goyal on Thursday said that there are security concerns involved in the decision to restrict import of laptops. The minister said that there will be no disruption in the availability or the price and the government will be ready to engage with industry and look at other options also. "Here is an issue, which is a serious security matter. Even Tesla car is not allowed anywhere near where Xi Jinping (President of China) is present. Because they're very conscious of the risks of security, even for a car being present in the vicinity of the premier of China. India also has to protect ourselves from countries who are antagonistic to India," Goyal said. While speaking at an event of book launch of journalist Nalin Mehta, Goyal said that the present government is a listening and accessible government. "We are conscious that laptops are our continuous companion. Laptops are being used for all our privileged and confidential information. And th

In a first, non-trade issue gender equality included in FTA talks

Led by Trade Minister Piyush Goyal, India's approach to FTA talks has seen a perceptible shift

Oppn parties move privilege notice against Goyal over remarks against them

Several leaders of the opposition alliance INDIA have given a privilege notice against leader of the house in Rajya Sabha Piyush Goyal over his certain remarks against some opposition leaders. Among the parties whose leaders gave the notice are the Congress, TMC, AAP, RJD, DMK, RJD, JDU, NCP and the Left parties. Sources said leaders of INDIA parties gave the notice to the Rajya Sabha chairman complaining against Goyal's certain remarks made while he was speaking on the issue of media portal 'NewsClick' receiving funding from China-linked firms allegedly to spread Chinese propaganda. Goyal questioned the relationship between the opposition parties and the news portal 'NewsClick', now accused by the New York Times of receiving funding from China-linked firms. "Today at 1300 hrs, the floor leaders of INDIA parties in the Rajya Sabha submitted a privilege motion against Leader of the House Piyush Goyal for addressing the Opposition as all of them 'traitors'," Ramesh said on ...

India, LAC countries need to collaborate in tourism, hospitality: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday pitched for increasing collaboration between India and LAC countries in areas such as tourism, hospitality and promoting investment flows. Latin America and the Caribbean (LAC) Region nations include Belize, Ecuador, Nicaragua, Brazil, El Salvador, Panama, Chile, Guatemala, Peru, Costa Rica, Guyana, and Suriname. He said huge opportunities are there in both regions to boost trade and investments. Goyal also said that India and LAC countries need to come together so that their voice can become strong at global fora. Addressing the CII India-Latin America & Caribbean (LAC) Region Conclave, he said India can contribute a lot in areas like healthcare and hospitality.

Tesla discusses India plans with commerce minister Goyal in Delhi -sources

Tesla has expressed an interest in building a factory in India that would produce a low-cost electric vehicle (EV) priced at $24,000, around 25% cheaper than Tesla's current entry model

Piyush Goyal meet e-commerce firms, CAIT to discuss online retail issues

Commerce and Industry Minister Piyush Goyal on Wednesday held a detailed discussion with representatives of e-commerce firms and domestic traders body CAIT on issues related to the sector, including the proposed policy, an official said. Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal, who attended the meeting, said that it was indicated in that the national e-commerce policy would be released by the government in the coming months. He also said that all the stakeholders agreed to implement and follow the policy in letter and spirit. "A unanimity is arrived between all stakeholders about basic pillars of e-commerce policy and rules," Khandelwal said. He also asked to constitute a regulatory authority to monitor and regulate e-commerce trade in India. He added that representatives from different companies, including Amazon, Flipkart, Tata CLiQ, Reliance Retail, Zomato, Swiggy and Meesho, participated in the deliberations. Senior officials from the ..

Commerce minister Piyush Goyal to meet e-commerce firms on Wednesday

Commerce and Industry Minister Piyush Goyal is scheduled to meet representatives of e-commerce firms and domestic traders body CAIT on August 2 to discuss issues related to the sector, an official said. Representatives from different companies including Amazon, Flpikart, Tata CLiQ, Reliance, Zomato, Swiggy and Meesho are expected to participate in the deliberations. The meeting assumes significance as the government is in the process of framing a national e-commerce policy and consumer protection rules for the sector. Confirming about the meeting, Confederation of All India Traders (CAIT) National Secretary General Praveen Khandelwal said he has urged the government to immediately notify the policy and the rules for the online retail sector, which is dominated by global players. The policy would help in providing a conducive environment for inclusive and harmonious growth of the sector. In June, secretary in the department for promotion of industry and internal trade (DPIIT) Rajes

Indian footwear, leather industry major foreign exchange earner: Goyal

Union Minister of Commerce and Industry Piyush Goyal said that the Indian Footwear and Leather industry is not only a major foreign exchange earner but being a labour-intensive sector, it also provides employment to approximately 4.5 million people, 40 per cent of whom are women. While addressing as a Chief Guest at India International Footwear Fair 2023 (IIFF) at New Delhi on Saturday, Commerce and Industry Minister said that India has the capacity to become world's largest and best quality footwear manufacturer.The Minister said, "India is the 2nd largest exporter of leather garments, 3rd largest exporter of Saddlery and Harness and 4th largest exporter of Leather Goods in the world." Piyush Goyal highlighted that more than 95 per cent of the production units in this sector are Ministry of Micro, Small & Medium Enterprises (MSME) units.Piyush Goyal said, "Indian Size of footwear will be launched soon to help distinguish Indian Footwear around the globe and reduce dependence on

Hopeful of finalising certain FTAs in next few months: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Saturday said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union (EU). "We can leverage the free trade agreements with the UAE and Australia and we are hopeful that in the next few months, we will finalise many more free trade agreements to help you grow your business with zero duty on finished leather products and footwear available for you to exploit bigger and better markets," Goyal said while addressing footwear industry representatives here. The minister also asked the industry to focus on quality and sustainable manufacturing processes to tap business opportunities in the developed world. The Indian footwear and leather industry is not only a major foreign exchange earner but being a labour-intensive secto

Govt sets up working group to decriminalise legislations for ease of biz

Commerce and Industry Minister Piyush Goyal on Thursday informed the Lok Sabha that the government has set up a working group to decriminalise laws to further promote ease of doing business. Replying to a debate on the Jan Vishwas (Amendment of Provisions) Bill, 2023, he said the group will look at areas, where more decriminalisation of provisions is required. He said that the group comprised representatives from industry associations, business chambers, legal professionals, legal experts and officials of seven ministries. Besides, it would also have representatives of the National Housing Bank (NHB), National Bank of Agriculture and Rural Development and Central Pollution Control Board. The Bill was later passed in the Lok Sabha through a voice vote as Opposition members protested and raised slogans on the Manipur issue. The Bill seeks to amend 183 provisions across 42 Acts administered by 19 ministries to reduce the compliance burden on individuals and businesses. Goyal said th

India asking for renegotiation of FTAs with Japan, S.Korea -trade minister

Goyal also termed India's free trade agreement with the Association of Southeast Asian Nations (ASEAN) "ill-conceived" and "unfair" to the Indian industry

Cong accuses Goyal of instructing BJP MPs to obstruct Kharge's speech in RS

The Congress on Thursday alleged that Leader of the House in Rajya Sabha Piyush Goyal instructed BJP MPs to obstruct Mallikarjun Kharge from speaking in the House and accused the saffron party of crossing all limits of decency and decorum in Parliament. Kharge could not speak in the upper house due to sloganeering after the External Affairs minister's statement on India's foreign policy developments. Both treasury benches and the opposition were raising slogans due to which Kharge could not make his point. Following the uproar, Rajya Sabha chairman Jagdeep Dhankhar adjourned the House till 2 pm. Taking to Twitter, Congress leader Jairam Ramesh said, "BJP continues to cross all limits of decency and decorum in Parliament." "Today morning no less than the Leader of the House Piyush Goyal actively instigated BJP MPs who then obstructed Leader of the Opposition Mallikarjun Kharge ji from speaking in the Rajya Sabha to raise INDIA's demands for PM's statement on Manipur and for a ...

Facilities at IECC to help country become modern, developed: Piyush Goyal

The world-class convention centre, inaugurated by Prime Minister Narendra Modi here on Wednesday, have all the facilities to help the country achieve the goal of becoming a developed and modern nation, Commerce and Industry Minister Piyush Goyal said. The International Exhibition-cum-Convention Centre (IECC)) complex is India's largest MICE (Meetings, Incentives, Conferences, and Exhibitions) destination. In terms of the covered space available for events, the complex finds its place among the top exhibition and convention complexes in the world. It comprises multiple modern facilities, including convention centres, exhibition halls and amphitheatres. It was developed by India Trade Promotion Organisation, a body of the commerce ministry. Speaking at the unveiling of the complex, Goyal said the Prime Minister has inspired us to move as a nation towards the goal of becoming a developed nation. He also highlighted the role of Shramjeevis and architects in the development of the ...

Tesla to discuss factory plan for new $24,000 car with Goyal: Report

The $24,000 EV Tesla representatives were said to have described in discussions about a potential Indian plant would be 25% cheaper than its current lowest priced offering