Page 43 - Piyush Goyal

India looking at multilateral, equitable agreements for all sides: Goyal

Negotiations for bilateral free trade agreements with several countries are "well on track" and India is also looking at some multilateral pacts that are fair and equitable for all the member countries, Commerce and Industry Minister Piyush Goyal said on Saturday. India has recently implemented a free trade agreement (FTA) with the UAE in May 2022 and on December 29, 2022 with Australia to boost bilateral trade and investments. The country is negotiating FTAs with countries including Canada, European Union and the UK. "We are well on track in discussions with several other countries to look at bilateral trade agreements. We are looking at one or two multilateral trade agreements also where we believe we can get benefit," Goyal said while virtually addressing the 27th Wharton India Economic Forum. In a trade agreement, two or more countries either significantly reduce or eliminate customs duties on the maximum number of goods traded between them. Besides, they ease norms to promote

BIS launches portal for mapping of industrial units and laboratories

India must recognise and accept the importance of quality: Piyush Goyal

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India has potential to become world leader in footwear, leather: Goyal

Union Commerce and Industry Minister Piyush Goyal said India has the potential to become a world leader in the footwear and leather sector

Drawing new scheme for machinery manufacturing for leather industry: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the government is considering a new scheme to support domestic manufacturing of machinery and accessories used in the leather industry. He also expressed hope that the country's exports during the current fiscal would register a high growth rate in both goods and services compared to 2021-22. In 2021-22, exports of goods and services touched an all-time high of USD 676 billion. "We are trying to draw up a new scheme to support manufacturing of machinery domestically, to support manufacturing of trimming or embellishments and other accessories that may be required in your industry," Goyal said here at an event of Council for Leather Exports (CLE). On the council's demand for the reinstatement of basic customs duty exemption on the wet blue crust and finished leather, Goyal assured them to take up the matter with the concerned ministry. According to CLE, such leathers are mainly imported by domestic exporters for making ...

Battery-swapping design norms to be voluntary, policy to be out this month

According to industry representatives present at the meeting, Goyal agreed to make the standardisation norms optional for battery manufacturers after receiving a request from stakeholders

Expect to sign at least two more FTAs next year, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said he expects at least two more free trade agreements to be signed up in 2023. Negotiations are scheduled with the UK, European Union and Canada, Goyal said at an event here, adding that his ministry does not have the bandwidth to tend to requests by smaller trading partners like New Zealand with which the bilateral trade stands at USD 350 million. "India today works from a position of strength, we negotiate with confidence," Goyal said, adding that the country will sign at least two such free trade agreements. Speaking at the event to mark the operationalisation of the India-Australia Economic Cooperation and Trade Agreement signed in April this year, Goyal said January itself is filled with meetings between Indian Commerce Ministry officials and their counterparts abroad. After handing over certificates of origin to the first among the Indian goods being sent to Australia after the agreement, Goyal said the FTA will benefit a sle

India-Australia trade agreement to greatly benefit MSMEs: Piyush Goyal

The interim pact between India and Australia, also known as Economic Cooperation and Trade Agreement (ECTA), has the potential to double bilateral trade to $50 billion in half a decade

Goyal launches right to repair portal, National Consumer Helpline premises

Food and Consumer Affairs Minister Piyush Goyal on Saturday launched a host of new initiatives, including the right to repair portal and an NTH mobile app and opened new premises of National Consumer Helpline centre in the national capital. A memorandum of understanding was also signed between the Consumer Affairs Department and IIT (BHU), Varanasi as well launched a capacity building programme of consumer commissions. These initiatives were launched on the occasion of the National Consumer Day. Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyothi, Consumer Affairs Secretary Rohit Kumar Singh, National Consumer Disputes Redressal Commission (NCDRC) President R K Agrawal were also present at the event. On the 'right to repair' portal, manufacturers will share the manual of product details with customers so that they can either repair by self, by third parties, rather than depend on original manufacturers. Initially, mobile phones, electronic, consumer durables, ...

Goyal withdraws remark on Bihar, says no intention to insult state, people

Union minister Piyush Goyal on Thursday withdrew his remark to RJD leader Manoj Jha that his party would one day turn the entire "country into Bihar" if they have their way, saying he had no intention of insulting the state or its people. At the start of Rajya Sabha proceedings on Thursday, Jha, who had on Wednesday shot off a letter to Chairman Jagdeep Dhankhar about the minister's "demeaning" remark, demanded an apology from the BJP leader. Goyal, the Minister of Commerce and Industry as well as the Leader of the House, said he will immediately withdraw the statement if it has hurt anybody. "At the outset, let me clarify that there is absolutely no intention of insulting either Bihar or the people of Bihar. And if at all it has hurt anybody, I will immediately withdraw that statement. It was not made with any malice to anybody at all," he said. Goyal made the remark on Tuesday when Jha was speaking during a discussion on the Appropriation Bill seeking Parliament's nod for additio

Piyush Goyal demands apology from Mallikarjun Kharge over Rajasthan speech

Leader of the House in the Lok Sabha, Piyush Goyal demanded an apology from Mallikarjun Kharge, the Leader of Opposition, on his speech made in Rajasthan's Alwar

Lok Sabha adjourned amid heated exchanges between BJP, Opposition members

Lok Sabha proceedings on Tuesday were adjourned till 11.30 am amid heated exchanges between BJP and Opposition members over certain remarks by Congress president Mallikarjun Kharge. As soon as the House met for the day, members from the Treasury benches sought to raise the issue of the remarks by the Congress leader on Monday and subsequently, Opposition members also started to protest. During the Question Hour, which went on for less than 10 minutes, one question and its supplementaries were taken up. However, as the din continued, Speaker Om Birla adjourned the proceedings till 11.30 am. Congress leader Adhir Ranjan Chowdhury and Minister of State for Parliamentary Affairs Arjun Ram Meghwal were engaged in a heated exchange over Kharge's remarks. At a rally in Rajasthan on Monday, Kharge claimed that while the Congress stood for the country and helped attain Independence after its leaders gave supreme sacrifices, "not even a dog of the BJP was lost" for the country.

Traders boycott Chinese goods, CTI asks Piyush Goyal to amend import policy

The Chamber of Trade and Industry (CTI) wrote to Union Commerce Minister Piyush Goyal urging him for a change in the import policy and to make it mandatory to write the country of origin on every item

Wheat stockpiles above buffer stock norm as of Oct, says Piyush Goyal

India's stockpile of wheat was above the buffer stock norm at the last scheduled count on October 1 and the next such quarterly review which takes into account seasonal procurement cycle, will be due on January 1. According to a written reply to a question in Rajya Sabha by Food and Consumer Affairs Minister Piyush Goyal, the minimum buffer requirement changes every quarter, peaking on July 1 when procurement of Rabi crop ends. It dips to the lowest on April 1 as accumulated stocks get released for beneficiaries of government schemes ahead of the new crop coming in. As per the reply, India's wheat stock was 227.46 lakh tonnes on October 1, 2022, as compared to the buffer norm of 205.20 lakh tonnes. The stockpile has since dwindled to 190.27 lakh tonnes as on December 1, 2022, primarily due to the release of foodgrain for supply to poor beneficiaries while hardly any procurement was added to the stockpile. At the next count on January 1, the buffer requirement of wheat is 138 lakh

Countries eager to sign FTAs with India: Piyush Goyal in Rajya Sabha

Countries across the world are looking at India as a trusted partner and want to sign free trade agreements with it after its emergence as a strong force in the world, Textile Minister Piyush Goyal said in the Rajya Sabha on Friday. He said talks are underway with the European Union, Gulf countries, Canada and the United Kingdom for free trade agreements (FTA) and the FTAs with two developed economies of the UAE and Australia will be enforced in this year alone. Replying to supplementaries during the Question Hour, the minister said it is true that in last few years, Bangladesh and Vietnam have made progress in the field of cotton textiles and garments. Bangladesh is still the least developed country (LDC) and will remain so till 2026 and because of that it gets duty free access in all world markets, he noted. Similarly, Vietnam has a FTA with the European Union due to which they get duty free access to the big market while our garments attract 9 to 10 percent duty in EU markets,

Quality control order to control inferior silk import on the cards

The minister's comments were in response to a question of poor quality silk coming into the country from China

Govt consideing quality control order for silk import: Piyush Goyal

The government is considering to bring quality control order for silk with an aim to contain import of the sub-standard product and boost domestic industry, Commerce and Industry Piyush Goyal said on Thursday. Earlier, the Ministry of Commerce and Industry has rolled out these Quality Control Orders (QCOs) for a host of goods such as household refrigerating appliances, certain steel and cable items, toys, and bicycles' retro reflective devices. The items, under these orders, cannot be produced, sold/traded, imported and stocked unless they bear the BIS mark. "We are thinking of bringing in quality control order on this (silk) to contain import of sub standard silk," Goyal told reporters here. He was replying to a question about concerns of industry on import of silk from China. The minister was here to participate in the two-day textiles conclave. India is the second largest producer of silk in the world. The four major varieties of silk produced in India include Mulberry, Tussar

India will aim to achieve $100 bn export target for textiles by 2030: Goyal

Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said

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Success rate of startups in India higher than rest of world: Goyal

The success rate of startups in India is relatively higher than the rest of the world and there were 84,012 recognised startups in the country at the end of November, Union minister Piyush Goyal said on Wednesday. To boost the startup ecosystem, the government launched the Startup India initiative on January 16, 2016, and an action plan was also put in place. "Startups are prone to failures is a very high probability. Though I must say, the success rate of startups in India is relatively higher than the rest of the world...," the minister told the Lok Sabha during the Question Hour. The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022, the minister said. The Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle. The Startup India Seed Fund Scheme has been approved for four years starting from 2021-22 a