Page 44 - Piyush Goyal

India and UK look to fast-track free trade agreement negotiations

Sixth round of negotiations begins in New Delhi after a four-month hiatus

UK trade minister in India to kickstart sixth round of FTA talks

UK Trade Secretary Kemi Badenoch arrives in New Delhi on Monday to kickstart the sixth round of free trade agreement (FTA) negotiations and hold bilateral talks with her Indian counterpart Piyush Goyal. The new round marks the first formal meeting between the India-UK negotiating teams since July and the first since Rishi Sunak took charge as British Prime Minister. His Trade Secretary will address both teams of senior negotiators ahead of the sixth round of formal negotiations, scheduled to take place throughout the week. I'm here in New Delhi to kickstart round six of UK-India trade negotiations and meet my counterpart (Commerce and Industry) Minister Goyal in person to drive progress on this agreement, said Badenoch. Both nations have come to the table with the very highest of ambitions and a willingness to work together towards a mutually beneficial deal. I'm excited about the opportunities we can create for British business, she said. India and the UK are the 5th and 6th bigg

Nation must know how dependent it has become on those with hostile interest

Commerce minister Piyush Goyal on Friday said India has become dependent on a country which has "inimical interests" and it is important that it realises this. Replying to supplementaries during question hour in the Rajya Sabha, he said the high trade deficit of USD 48.5 billion in trade between India and China inherited in 2013-14 cannot be ignored and the government is now taking steps to promote domestic manufacturing sector. He said the India-China trade in 2000-2001 was barely USD 2 billion and that position continued till 2002-03 where it increased at best to about USD 5 Billion. "At that time the trade deficit was just about USD 1 billion. I don't know what happened after that, but suddenly after 2003-04 the USD 1 billion trade defict over the next ten years increased to USD 36 billion in ten years," he told the house. The entire country, he claimed, became a large marketplace inviting sub-standard, opaquely priced, non-transparent valued goods into the country in a big ...

More sectors to be covered under PLI scheme soon, says Piyush Goyal

"PLI gives the kickstart, but then the industry has to move on its own strength, he said

We must look for newer markets for Indian millets: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday called for looking at newer markets for Indian millets to push exports. He also said that there is a need for more research and focus on standards for the sector. "We must look for newer markets and destinations. Research is required to see newer varieties," he said here at an international buyer-seller meet on millets. The minister also called for greater participation of industry besides focusing on boosting productivity of millets. Millets help in reducing carbon emission besides promoting growth of agriculture. "Let's become the global capital of millets," he added. Speaking at the event, Commerce Secretary Sunil Barthwal said that there is a huge scope to boost millet exports from India. "We can achieve the target of USD 100 billion in 2-3 years from USD 15 million, he said. He said that the ministry will be organising several such buyer-seller meets in India and abroad to promote millets. "I am sure the culture of gro

Firms' PAN to be identifier for govt single window clearance system

PAN database has relevant information about companies, says commerce minister Piyush Goyal

Delhi municipal corporation polls: Campaign for elections to end today

The campaign for the high-profile MCD elections will come end on Friday, with top campaigners, including Chief Minister Arvind Kejriwal, Union ministers like Piyush Goyal and Hardeep Singh Puri, reaching out to voters in full swing through public meetings and roadshows. The voting for the Municipal Corporation of Delhi polls will be held on Sunday and counting will take place on December 7. The BJP will be holding 210 programmes on Friday and the party's senior ministers Puri, Goyal and Anurag Thakur along with Uttarakhand Chief Minister Pushkar Singh Dhami, Deputy Chief Minister of UP Keshav Prasad Maurya will be holding roadshows to woo the voters. Earlier, Kejriwal attacked the BJP over their power-packed campaign saying they have invited seven of its chief ministers, one of its deputy chief ministers, and 17 Union ministers to campaign in the MCD elections and to attack an ''aam aadmi'' like him. The Aam Aadmi Party, on the other hand, has also witnessed its star campaigners, .

India-Australia free trade agreement to come into force from Dec 29

Trade between the two countries is expected to cross $45-50 bn in five years

235 critical road infrastructure projects shortlisted under GatiShakti

These would be for immediate execution and be overseen by MoRTH

Handicraft far superior than machine-made products, exports rising: Goyal

Piyush Goyal said that the country's handicraft exports have been rising steadily and were far superior than any machine-made products

India-GCC grouping expects to revive free trade agreement negotiations

Launch date of negotiation not divulged

India, GCC agree to pursue Free Trade Agreement; resume talks: Piyush Goyal

India and the Gulf Cooperation Council (GCC) have agreed to pursue a free trade agreement (FTA) between the two regions and resume the negotiations, Commerce and Industry Minister Piyush Goyal said on Thursday. 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. India's exports to the GCC member countries grew by 58.26 per cent to about USD 44 billion in 2021-22 against USD 27.8 billion in 2020-21, according to data from the commerce ministry. Bilateral trade in goods has increased to USD 154.73 billion in 2021-22 from USD 87.4 billion in 2020-21. Services trade between the two regions was valued at around USD 14 billion in 2021-22, with exports aggregated at USD 5.5 billion and imports at USD 8.3 billion. "We have agreed to pursue the free trade agreement between the GCC and India and resume the negotiations and conclude the same at the earliest," Goyal told reporters here i

Global uncertainty could have implications on India's exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said the ongoing global uncertainty and recessionary trends could have some implications on India's exports. He, however, said that services exports have huge potential for growth. Given the global situation, India is still the bright spot in the world, the minister said. In times of uncertainty and when there is talk about recession at the world level, it is natural that there would have some consequences for India and there is a possibility of some weakness in our exports as well, he said at the Times Now Summit 2022. India's exports entered negative territory after a gap of about two years, declining sharply by 16.65 per cent to USD 29.78 billion in October, mainly due to global demand slowdown, even as the trade deficit widened to USD 26.91 billion, according to data released by the commerce ministry. Key export sectors, including gems and jewellery, engineering, petroleum products, ready-made garments of all textiles, ..

Make best use of India-Aus trade pact, Goyal tells steel industry

Commerce Minister Piyush Goyal on Tuesday urged the domestic steel industry to make best use of the India-Australia Economic Cooperation & Trade Agreement (ECTA) Agreement and look at capturing new opportunities in Australia.

Collaborate with institutions to find an alternative of coking coal: Goyal

The availability of coking coal is a major challenge for the domestic steel sector and the industry should collaborate with eminent institutions like IITs to undertake research to find alternate solutions, Commerce and Industry Minister Piyush Goyal said on Tuesday. The industry needs to become self-reliant on coking coal to remove India's dependency on a few countries for the key raw material for steel makers, he added. "Coking coal is a matter of concern for the industry. We can look at investments and alternatives. You can find solutions for its alternatives. I would urge the industry to research with our IITs or the Indian Institute of Science. It is the need of the hour to become self-sufficient," Goyal said here at a steel conclave. The government is preparing a 'coking coal mission' to diversify the sources of key steel-making raw material, for which the country is heavily dependent on imports. India imports around 90 per cent of its coking coal requirement. Coal with high a

India-UK trade pact high priority; next round of talks slated in Dec: Goyal

The proposed free trade agreement (FTA) between India and the UK is a high priority for both the countries and the next round of negotiations for the pact is slated to happen next month, commerce and industry minister Piyush Goyal said on Tuesday. He said that things are progressing well and it will yield good results. "We are all very well aware that it was progressing very fast until we had a little bit of a blip because of political happenings in the other country. Fortunately, we have a stable government. I believe in office now (in the UK) and I am already in touch with my (UK) counterpart. We are working together to possibly have an in person meeting also very soon but our teams are already engaged. Next month, the next round of negotiations are slated to happen," Goyal said here at a steel industry event. He said that industry support is required for the agreement and it should be a fair, equitable and balanced FTA. He also said that there should not be any strict timelines

India on its way to become $30 trn economy, developed nation by 2047: Goyal

Piyush Goyal said that ONDC is a game-changing initiative, which aims to democratize e-commerce to give equal opportunity to start-ups and young entrepreneurs

ONDC a 'game-changer' in democratising e-commerce business: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Friday exuded confidence that the Open Network for Digital Commerce (ONDC), a Unified Payments Interface-type protocol, would democratise the e-commerce businesses by onboarding six crore small retailers. Addressing reporters here, Goyal said, The ONDC has that ability to transform the e-commerce sector not only in India, but also in the whole world because, like UPI, it will democratise or make e-commerce available to the common man and connect the 60 million or six crore small retailers all over the country." The ONDC was launched in five cities in April. The ONDC will offer small retailers an opportunity to provide their services, goods, products to the buyers across the country through an e-commerce system, where buyers will be able to purchase the products, which are sold on any platform, Goyal explained. He added that the sellers on any one platform will have the ability to sell to buyers coming on to any platform. So ...

In ODOP push, Centre asks states to onboard most products on GeM

G20 Presidency an opportunity to showcase ODOP products

Coffee exports double to Rs 3,312 cr during Apr-Sept period: Piyush Goyal

The country's coffee exports almost doubled to Rs 3,312 crore during April-September this fiscal against Rs 1,657 crore in the same period of 2013-14, Commerce and Industry Minister Piyush Goyal said in a tweet. "Indian coffee exports (are) hitting new milestones. India's exports of coffee rose to almost two times in April-September 2022 over the same period in 2013," he said. India is Asia's third-largest producer and exporter of the commodity. India ships both Robusta and Arabica varieties, besides instant coffee. Italy, Germany and Belgium are among the major export destinations for Indian coffee.