Page 45 - Piyush Goyal

India, US 'thinking big', says Goyal, rules out mini trade deal or FTA

The Modi government and the Biden administration are "thinking big" in terms of their trade and commerce relationship, a top Indian official said Wednesday as he ruled out the previously talked about mini trade deal or a free trade agreement and noted that revoking of GSP is not a priority for New Delhi. The previous Trump administration has revoked the Generalized System of Preferences (GSP) from India. The GSP allows eligible developing countries to export duty-free goods to the US. It is during the previous administration as well that the two countries were on the verge of a mini trade deal, which has now been kicked out of the table. The Biden administration is also not in favour of a free trade agreement which businesses from either side are now talking about. "I think in terms of GSP, I have not heard any significant clamour from the Indian industry. To focus our energies on the GSP issue, I have raised it today with my counterparts," Union Commerce and Industry Minister Piyus

India, US working mechanism to export shrimps for Americans: Piyush Goyal

India and the United States are developing a mechanism for the Indian fishermen to be able to export shrimps for the American consumers, Union Commerce and Industry Minister Piyush Goyal said Wednesday. "We had discussions for restarting the wild caught shrimp exports from India to the US," Goyal told reporters at a news conference here at the conclusion of India-US Trade Policy Forum meeting that he co-chaired with US Trade Representative Katherine Tai. This was an area that was banned by the US because of concerns around turtles, in the areas where wild caught shrimp was being fished in India, he said. "A turtle excluder device has been designed with the technical support of the NOAA (National Oceanic and Atmospheric Administration), from the US, and that design has been accepted now, between the two countries as a collaborative effort between India and the United States," he said. The device is now being taken up for trials. The trials of that machine, he said, will ensure that

Delay in business visa issuance discussed with US, says Piyush Goyal

India discussed with the US the inordinate delays in issuance of business visas to the people from India, and there has been a good resonance of it by the Americans, visiting Union Commerce and Industry Minister Piyush Goyal said Wednesday. "We found very good resonance to our request that issuance of business visas which is taking a long time back home in India is an area which needs to be expedited so that business persons interested on both sides -- the US businesses and Indian businesses -- need to have faster processing of business reasons, so that trade and investment and business does not suffer," Goyal told reporters at the conclusion of India-US Trade Policy Forum meeting that he co-chaired with the US Trade Representative Katherine Tai. India, Goyal said, has made the request to the US that they may speed up the issuance of regular business visas when people come in for short trips to pursue their trade and business interests. "We are delighted that the movement of ...

Limitless opportunities for US investors to grow in India: Piyush Goyal

In a statement issued by the USIBC, Goyal said that "for the US companies looking for 'good times', this is the time, this is the right time, to look at India, and engage more with India

Piyush Goyal discusses investment opportunities with US executives in NY

Commerce and Industry Minister Piyush Goyal met with chief executives of leading global corporations as well as industry stakeholders here and discussed investment opportunities in India and areas to further strengthen the bilateral trade partnership with the US. Goyal, who is in the US on an official visit, held a series of meetings with the CEOs of investment and financial giants on Monday. Following a meeting with smart and sustainable buildings solutions provider Johnson Controls Chairman and CEO George Oliver, Goyal tweeted that he exchanged views on enhancing company's role in decarbonisation & developing sustainable buildings in India. They also discussed developing security products through Research and Development, the Internet of Things and Artificial Intelligence. In his meeting with the CEO and Chairman of investment management giant Blackstone Stephen Schwarzman, Goyal discussed expanding India's investment landscape, including infrastructure, renewables and green ...

Huge investments opportunities are there in India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday said huge investment opportunities are there in India due to its large domestic consumption demand, rule of law and transparent economy. The minister is in the US for a three-day visit. India is a land of opportunity, and the Indian diaspora should take this message to the world, he added. "India offers huge opportunities due to its large domestic consumption demand, democracy, rule of law and transparent economy," Goyal said while addressing the Indian community at an event in New Jersey. He urged everyone to take this message to the world that India is the trusted partner in the supply chain and investment portfolio. He also called the diaspora for promoting made-in-India products and presenting India's investment opportunities to investors in the US. Goyal said transformational reforms that India witnessed over the last few years have made India the world's fifth-largest economy. He expressed confidence that in a few years

Piyush Goyal to attend India-US Trade Policy Forum on January 11

The TPF aims to iron out key trade and investment-related issues between India and its largest trade partner - the US

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