Page 41 - Piyush Goyal

We should target $1 bn organic product export by 2030: Piyush Goyal

The Union minister also called on the local youth to work at design and packaging facilities as well

Piyush Goyal bats for promoting local products to make India self-reliant

Union Commerce Minister Piyush Goyal on Saturday emphasised on the importance of promoting local products to make India self-reliant. Addressing a session in which of founders different start-ups from the Northeast participated, he said the quality of manufacturing must be maintained as it impacts the business. "The quality will play a key role and help companies deliver products and services that exceed expectations, helping them expand their markets," Goyal said. He said innovators, startups and students have a big role to play in shaping the future of India, and urged them to keep contributing to the development of the nation. He said six lakh LED bulbs are sold in India every day, helping to reduce energy consumption and create job opportunities. He also stressed on the importance of mentorship programs for entrepreneurs in the state. The minister is on a three-day visit to Sikkim, which started on Friday.

Let's target to export organic products worth $1 billion by 2030: Goyal

Commerce and industry minister Piyush Goyal on Friday suggested the industry set a target of exporting organic products worth USD 1 billion by 2030. He said this while addressing an interaction programme with Sikkim Chamber of Commerce and Industry representatives at Gangtok. "He urged to set a target to export USD 1 billion organic product by 2030 from existing USD 1 million organic produce in Sikkim," the ministry said in a statement. He suggested a laboratory for organic testing in the state -- farm-to-lab traceability check. Goyal said that Sikkim has the potential to become a sustainable and organic state. He also informed that the Centre is ready to set up National Institute of Design and National Institute of Packaging Campus in Sikkim if lands are provided by the state government.

Piyush Goyal discusses economic recovery with Sri Lankan envoy Moragoda

Moragoda thanked India for the unprecedented support that it has extended to Sri Lanka to mitigate the negative impact of the economic crisis

Textile minister discusses unutilised production capacity in man-made fibre

Union minister Piyush Goyal on Tuesday discussed high levels of unutilised production capacities of man-made fibre due to imports with stakeholders at a meeting here. Holding the first meeting, the newly constituted Textile Advisory Group for Manmade Fibre (MMF) at Vanijya Bhavan, the minister said the government will expedite enforcement of all the Quality Control Order (QCO) on the MMF products. "Goyal suggested that different segments of the value chain need to be supportive to each other's requirements and challenges for the holistic growth of the sector," an official statement said. The textiles ministry stated that high levels of unutilised production capacities of man-made fibre due to import was discussed, adding that stakeholders suggested various possible solutions to strengthen and revamp the MMF value chain. The matters of import surge of cheap imports of PTA and MEG into India was also discussed. Goyal said the government will expedite enforcement of all the Quality ..

India seeks mutually beneficial early harvest deal under IPEF

The ministry's statement comes in the backdrop of India hosting the second round of negotiations for US led-IPEF in the national capital last week

Piyush Goyal directs FCI to open more procurement centres in UP districts

Minister for Consumer Affairs, Food, and Public Distribution Piyush Goyal has directed the FCI to set up more procurement centres covering almost all revenue districts of Uttar Pradesh.

No power can become hurdle between UP and development, says Piyush Goyal

Union Minister Piyush Goyal on Sunday said under the able leadership of Yogi Adityanath, Uttar Pradesh is moving forward and no power can become a hurdle between the state and development. He was addressing a session on excise and sugar industry at the UP Global Investors Summit-2023 here. "There is a wave of development in Uttar Pradesh, and it can be experienced in this meet. Under the able leadership of Yogi Adityanath, Uttar Pradesh is moving, and no power can become a hurdle between Uttar Pradesh and development," Goyal said. He also said that until Prime Minister Narendra Modi is personally satisfied, he does not allow ministers to make any promises with the people and that the prime minister promotes competition in the federal structure. Goyal also said that in the past six years despite the COVID-19 pandemic, UP's excise collection increased from Rs 14,500 crore to Rs 42,500 crore. The minister highlighted that people of Australia are now becoming dependent on India for wi

India's toy exports touch Rs 1,017 cr during Apr-Dec in FY23: Govt data

The country's toy exports have touched Rs 1,017 crore during April-December period this fiscal, according to the government data. In 2021-22, the exports stood at Rs 2,601 crore. "Made in India toys continue to tap global markets! India's toy exports rose to more than 6 times in April-December 2022 as compared to the same period in 2013," commerce and industry minister Piyush Goyal said in a tweet. During April-December 2013-14, the shipments were at Rs 167 crore. The government is taking steps to promote domestic manufacturing and exports of toys from the country and reduce imports from countries like China, which are of low quality. In 2018-19, toys worth Rs 2,960 crore were imported into India. With the philosophy of 'vocal for local', the government took several steps to promote indigenous toys designed on Indian culture and history. The overall import of toys in India reduced by 70 per cent to Rs 870 crore in 2021-22. In February 2020, import duty on toys was raised from 20

1,330 foreign firms, subsidiaries have shut shop in last 3 yrs:Minister

As many as 1,330 foreign companies and subsidiaries of overseas firms have shut shop during the last three years, Parliament was informed on Friday. In the same period, however, as many as 4,994 new foreign companies and subsidiaries of foreign companies got registered in India, Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha. There are 17,432 active foreign companies and subsidiaries of foreign companies operating in the country, he said. "1,330 foreign companies and subsidiaries of foreign companies have closed during the past three years," he said. He said that the closing of operations is a matter of private commercial business decision. "It depends on a host of factors such as viability of operations, availability of resources, market size, infrastructure, political and macroeconomic climate as well as the decision of a particular business entity to operate in the country," Goyal added. Meanwhile, replying to a question on trade gap, ..

Adani row: Indian regulators very competent to handle situation, says Goyal

Union Minister for Commerce and Industry Piyush Goyal on Saturday said regulators are very competent to handle the situation and will take appropriate action, regarding the allegations of fraud against billionaire Gautam Adani's companies that triggered an unprecedented stock crash. He also termed the opposition stalling the Parliament's proceedings on the issue as "unfortunate". "The regulators in India are very competent and our financial markets are amongst the most respected and well regulated markets in the world. As regards the loss, that's the share market's valuation loss, not the loss of any individual or people's wealth," Goyal told reporters here. Responding to opposition's criticism that the government is shying away from discussion on the Adani issue, and about USD 100 billion loss, he said, investments in shares and stocks go up and down, that's a part of investment, but nowhere have the people of India lost those levels of sums that is mentioned (USD 100 billion). Th

Budget 2023 to give lot of support to India's startup ecosystem: Goyal

Measures announced in the Budget such as extending the period of incorporation of eligible budding entrepreneurs for providing tax incentives, would provide a lot of support to further strengthen the country's startup ecosystem, Commerce and Industry Minister Piyush Goyal has said. The government on Wednesday proposed to extend the period of incorporation of eligible startups by one more year till March 31, 2024, for providing tax incentives to encourage budding entrepreneurs. Finance Minister Nirmala Sitharaman has also proposed to ease norms for startups by extending the benefit of carrying forward losses to 10 years. Goyal said that the government has consistently been supporting the startup ecosystem and since the launch of the startup India initiative, the country has had significant growth in the startup arena. "So my sense is that this (Budget) will certainly give a lot of support and help to the startup ecosystem so that it flourishes in the years to come," the minister tol

Budget 2023: Many PLI schemes are in the pipeline, says Piyush Goyal

As and when other PLI schemes get approved, the cabinet is empowered to approve it

Piyush Goyal calls for creation of network to strengthen start-up ecosystem

The Union Minister was addressing the inaugural session of the Inception Meeting of the Startup 20 Engagement Group of G20 in Hyderabad

Govt clears 15 R&D projects worth around Rs 32.25 cr in key strategic areas

The 5th Mission Steering Group chaired by Union minister Piyush Goyal on Friday cleared 15 R&D projects worth around Rs 32.25 crore in key strategic areas such as speciality fibre, protective textiles, high-performance textiles, geotextiles, medical textiles, sustainable textiles and textiles for building materials. The projects have been approved by the government under the National Technical Textiles Mission. "Encouraging young engineering minds to pursue technical textiles in India is the need of the hour. A broad guideline under start-up scheme was discussed and may be finalised on priority targeting aspiring innovators, entrepreneurs and young scientists," an official statement said. Addressing the meeting, textiles minister Goyal said leading textile manufacturers and institutes should come together to indigenously develop strategic and high-value technical textile products with support of National Technical Textiles Mission. Among these 15 R&D (Research & ...

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Won't allow sensitive issues to scuttle India-UK trade talks: Piyush Goyal

"With Canada, while they are also not much of a manufacturing base, we have to go into more details. With the UK, it's a manufacturing country on many products. So we have to do it very carefully"

Country's service exports are doing 'extremely well': Piyush Goyal

The country's services exports are doing extremely well and going by the current trend these outbound shipments would register about 20 per cent growth in this fiscal and cross the USD 300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. He said that on the merchandise front also, exports are so far registering healthy growth despite the world being under recession, huge inflationary pressure , and overstocking of various commodities. With all these stress, where every global leader is talking of very tough times, India's exports rose 9 per cent year-on-year during April-December 2022-23. On services though, we have done extremely well. On services we are probably going to do at least a 20 per cent growth and by the current trends, we will exceed the target of USD 300 billion this year. So all in all, it will be a very very satisfying year, given the global headwinds and the stress that is reported from almost every part of

Student visas were never part of FTA discussions with UK, says Piyush Goyal

Goyal said sensitive issues will not be allowed to scuttle the FTA talks with UK and they will focus on what is acceptable to both countries