Page 39 - Piyush Goyal

Goyal to hold meetings with Italy, France leaders next week to boost trade

Commerce and Industry Minister Piyush Goyal will hold a series of meetings with leaders and top CEOs of France and Italy next week during his three-day visit to these two countries to further boost trade and investment ties. The minister will be on an official visit to France (Paris) and Italy (Rome) on April 11-13. He will be accompanied by a delegation of top Indian CEOs. In France, Goyal along with Olivier Becht, Minister delegate of Foreign Trade, Attractiveness and French Nationals Abroad, Government of France, will co-chair the India-France Business Summit on April 11, the commerce ministry said in a statement on Sunday. The summit will focus on various themes, including building a green future, emerging technologies, defence cooperation and cooperation in the Indo-Pacific regions, it added. Goyal is also scheduled to meet with French business leaders across various sectors and will attend a CEOs roundtable. Both Indian and French ministers will participate in an event that

Goods exports hit $447 bn in FY23; final data awaited: Piyush Goyal

Services exports likely to see sharper jump, estimated to cross $320 billion in FY23 from $254 billion a year ago

Don't repeat the mistake you made in 2018 polls: Piyush Goyal to K'taka

Union Minister for Commerce and Industry Piyush Goyal on Friday urged the people of Karnataka not to "repeat the mistake of 2018 polls", and to provide an absolute majority to the BJP in the May 10 Assembly elections. During an Interaction with the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), he asked the people to elect a strong and single-party government, which would be committed to the welfare of the people of Karnataka and provide good governance. The 2018 Assembly polls had thrown up a hung verdict, following which the Congress and JD(S) joined together to form a coalition government initially. However, the BJP later got MLAs from the rival parties to defect, and emerged as the single largest party. "We (BJP) commit ourselves to providing a double-engine government in Karnataka, a government that will work hand-in-hand with the central government," Goyal said. Addressing the gathering, he said, "We would like to see Karnataka get an absolute majority ...

Foreign trade policy: Exporters seek 3 months from Centre for transition

In case there is a change in the policy, the transition time in that case will help the exporter execute the contract, giving some certainty for the exporter

Goyal lauds GeM crossing Gross Merchandise Value of Rs 2 trn in 2022-23

Union Commerce Piyush Goyal said in the financial year 2022-2023, procurement of goods and services from the government portal Government e-Marketplace (GeM) has crossed the Rs 2 trn mark

New foreign trade policy seeks to spur rupee trade, e-com exports

New policy is in line with government's priority towards moving from an 'incentive-based regime' to a 'remission and entitlement-based regime', thereby making the policy compliant with WTO rules

India on track to achieve $2 trillion exports by 2030: Piyush Goyal

Commerce and Industry Piyush Goyal on Friday exuded confidence that India's merchandise and services exports will cross USD 2 trillion by 2030 from the current level of USD 765 billion, as he unveiled a "dynamic and responsive" foreign trade policy. He said that goods exports have witnessed good growth considering the current global scenario while services exports may see a quantum jump in the current fiscal. "We have to meet our exports targets going forward," said the minister, adding that "we will need to work a bit harder" on goods exports. "It shouldn't be that by 2030, services exports cross USD 1 trillion while you (merchandise exports) lag behind. I am confident that we will cross USD 2 trillion by 2030," Goyal said. The minister said he has asked the Department of Commerce to undertake a "massive focused concentrated" outreach globally in the next 4-5 months sectorally as well as country-wise through Indian missions abroad with special focus on trade, technology, tourism a

Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030

India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in FY22

India remains a bright spot among global economies: Piyush Goyal

"We aim to use technology in every sphere to serve the people of India in a big way. Today, we are showcasing our developmental model to the rest of the world," Goyal said

Government to buy 300,000 tonnes of onion in Rabi season: Piyush Goyal

Union Minister Piyush Goyal on Thursday announced that the government agencies will buy 3 lakh tonnes of onion once the winter harvest starts coming in. Goyal, who handles the Consumer Affairs, Food and Public distribution portfolio, said that last year, the overall buying of the rabi harvest stood at 2.5 lakh tonnes. "I have already ordered an increased onion purchase from Rabi harvest from 2.5 lakh tonnes last year to 3 lakh tonnes this year to ensure that farmers get a fair price," Goyal told reporters here. He added that the National Cooperative Consumers Federation and National Agricultural Cooperative Marketing Federation of India (Nafed) have also been instructed to pick up 'late kharif' harvest stocks, but are not finding the produce in the markets now. Growers in Maharashtra have been protesting after a steep fall in onion prices over the last month. Marketplaces, including the largest one in Nashik district's Lasalgaon, have been shut down and onions have also been dumped

FTP talks with UK continuing, trade stands on its own legs: Goyal

Amid a diplomatic row following protests by secessionist groups near the Indian mission in London, Union commerce minister Piyush Goyal on Thursday said talks on a Free Trade Agreement with the UK are continuing. Talks are "going on very well" with the UK, Goyal said, adding, "trade stands on its own legs". The Union minister, however, made it clear that India will take into consideration a respect for her sovereignty and territorial integrity, and will not tolerate any interference in her Indian affairs. India's Ministry of External Affairs summoned the senior-most British diplomat in New Delhi on a Sunday evening recently, over reports of some Khalistani elements pulling down the Indian flag at the Indian high commission in London during a protest. India has also responded by proposing or undertaking several actions, like reducing security at the British mission and constructing a public toilet there. When asked about the impact of the ongoing events on the trade agreement, Goyal

Government to unveil new Foreign Trade Policy 2023-28 on Friday: Ministry

India will unveil its much-awaited new Foreign Trade Policy 2023-28 on Friday, with a view to boost exports amid slowing global trade. Commerce and Industry Minister Piyush Goyal will announce the foreign trade policy, according to the ministry. The current foreign trade policy (2015-20) is in force till March 31, 2022. The term of the previous five year policy had ended in March 2020. However, it has been extended repeatedly in wake of Covid outbreak and resulting lockdowns. The last extension was given in September 2022 till March 31, 2023. Goyal will announce the foreign trade policy which is expected to outline the vision statement for taking India's goods and services exports to USD 2 trillion by 2030. The country is likely to end this fiscal year with total exports of USD 760 billion as against USD 676 billion in 2021-22. India's trade has been hit by supply chain disruptions and slowdown in global trade amidst ongoing Russia-Ukraine war. Sources said the new policy is li

Goods and services exports to cross $760 bn in FY23: Piyush Goyal

Asserts that India's self reliance drive isn't about closing doors but opening them wider, with the aim of letting competitive and comparative advantages determine international trade

Odisha CM Naveen Patnaik asks Centre to lift 2 mn tonne of surplus rice

Odisha will have about 2 mn metric tonnes of surplus rice after meeting all its requirements, CM Naveen Patnaik said in a letter to the central govt asking for the evacuation of surplus rice

Congress not letting Parliament function, misleading people: Piyush Goyal

He stated, "Congress' intentions are of insulting the OBC community, their mentality is against the OBC community. Rahul Gandhi has no right to consider himself above the law of the land

Piyush Goyal, Lithuania Ambassador flag off G-20 Yuva Slum Daud in Delhi

Union Minister Piyush Goyal along with Lithuania Ambassador to India Diana Mickeviciene on Sunday flagged off 'Gandhi Darshan, G-20 Yuva Slum Daud' at Amardev Public School in the national capital.

India aspires to take technical textiles market to $40 bn in 4-5 yrs: Goyal

Union Minister Piyush Goyal on Friday said India aspires to take its technical textiles market to USD 40 billion in the next 4-5 years from USD 22 billion at present. In a virtual address at a conference on geo textiles, the Textiles Minister also expressed hope to build a domestic technical textiles market of up to USD 300 billion by 2047. Currently, India is the fifth largest producer of technical textiles in the world with a market size of nearly USD 22 billion. To achieve these objectives, Goyal underlined the need to focus on improving productivity at manufacturing and supply-chain levels. Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering and construction, agriculture, healthcare, industrial safety, personal protection etc. "We will have to introduce economies of scale and also have to work on research and development to innovate and come up with attractive products which are in the future going

DPIIT to set up task force for formulating logistics cost framework

A task force will be set up for formulating a framework to determine logistics costs in the country, the commerce and industry ministry has said. It was decided in a workshop organised by Department for Promotion of Industry and Internal Trade (DPIIT) on the subject, on Monday. The task force members would include representatives from NITI Aayog, Ministry of Statistics and Programme Implementation (MOSPI), National Council of Applied Economic Research (NCAER), academic experts and other stakeholders. It "will be established for formulating a logistics cost framework in a time-bound fashion," it said. The workshop on logistics cost framework was organised in partnership with Asian Development Bank (ADB). Speaking at the workshop, Commerce and Industry Minister Piyush Goyal suggested taking note of India's geography, terrain, size and complexities, trade volume and value etc while calculating the logistics cost. He said e-commerce, smarter free trade agreements, adopting internatio

'2 million new jobs to be created under PM MITRA', says Piyush Goyal

Of the 13 states that competed, seven - Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra - were selected

Need to provide quality products to consumers at affordable prices: Goyal

Food and Consumer Affairs Minister Piyush Goyal on Wednesday stressed the need to provide quality products and services to consumers at affordable prices. Addressing an event to mark World Consumer Rights Day 2023, the minister said that the "consumer is at the centre and core of all our activities". "The very purpose of our activities should be a satisfied customer...We have gathered here to celebrate consumers' rights. We want to give confidence to consumers and want to win their trust," he added. Goyal emphasised that it is the duty of the government, consumer courts and industries to protect the consumers' interests. Customer service, customer awareness and customer redressal should be the focus, he noted. Goyal added that there is also a need to guide customers on the path of a sustainable future, as the entire world talks about green growth. The minister said the Prime Minister keeps consumers at the centre of all the government's programmes. The government has focused a l