Page 47 - Piyush Goyal

Piyush Goyal meets Singapore minister, discusses bilateral cooperation

Commerce and industry minister Piyush Goyal on Saturday met Singapore's Senior Minister Tharman Shanmugaratnam and discussed strengthening bilateral cooperation across several areas of mutual interest. Goel also had an interaction with CEOs & Investors at the Business Roundtable in Singapore and invited them to participate in India's growth story and benefit from the multitude of opportunities. "Met @Tharman_S, Singapore Senior Minister & Coordinating Minister for Social Policies. Discussed strengthening bilateral cooperation across several areas of mutual interest," Goel tweeted. "Held an engaging interaction with CEOs & Investors at the Business Roundtable in Singapore. (Prime Minister Narendra) Modi Govt. has brought about a sea change in India's investment ecosystem. Invited them to participate in India's growth story and benefit from the multitude of opportunities. Goel also met and addressed the Indian community in Singapore. He thanked them for holding India's flag .

Discuss patent waiver extension for Covid diagnostics: Goyal urges G20

Commerce and Industry Minister Piyush Goyal on Thursday urged the G20 countries for starting timely discussions in the WTO on extending patent waiver for the production and supply of COVID-19 diagnostics and therapeutics. In June, members of the World Trade Organisation (WTO) agreed to grant a temporary patent waiver for manufacturing COVID-19 vaccines only for five years. However, talks on including therapeutics and diagnostics, as proposed by India and South Africa, under the purview of this waiver were to start after six months. Goyal raised the issue while delivering his opening statement at the G20 Trade, Investment and Industry Ministerial Meeting that is underway in Bali, Indonesia. "He urged the G20 to commit itself to positive and timely discussions on important areas mandated by the MC12 (12th ministerial conference) including WTO reforms and extension of TRIPS (Trade Related aspects of Intellectual Property Rights) waver to cover the production and supply of COVID 19 ...

Hold talks to extend TRIPS waiver to Covid diagnostics: Piyush Goyal to G20

Goyal said if multilateralism was imperilled, the world will not be left with many fora to promote dialogue and diplomacy

G20 meet: Ways to strengthen WTO dispute settlement mechanism discussed

The meeting with the USTR is crucial since the conclusion of the 12th WTO ministerial in June, the outcome document had promised to revive the dispute settlement body in the next two years

India, UK working to meet Diwali deadline for completing FTA: Piyush Goyal

Union Commerce Minister Piyush Goyal on Tuesday said the UK is keen to stick to the Diwali deadline for India-UK free trade agreement and both countries are working towards it

Even poorest of Indian consumers deserve quality products: Piyush Goyal

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal on Tuesday said that even the poorest citizen of the country deserves the best quality products and the culture of no compromise with quality has to be adopted in the country.Goyal addressed the Special Plenary Session at FICCI LEADS 2022 program in New Delhi on Tuesday.Piyush Goyal urged the Industry to focus on 5 Key areas in the Manufacturing sector - Standards or Quality, Durability, Design, Price & Sustainability and align them to the international standards.He said, "We must adopt new technologies like IoT, AI and Machine Learning. We must look at upskilling and retraining our workforce to be able to meet the needs of Industry 4.0."Speaking on the importance of world trade, Goyal said that we must acknowledge that we need to engage with the world to develop. We need to globalize trade and get the best from the world while simultaneously giving the best to the

Govt working on PLI schemes for more products to boost manufacturing: Goyal

The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others

India, Saudi Arabia discuss Rupee-Riyal trade, UPI payment system

Both countries have re-affirmed continued cooperation in joint projects including the West coast refinery, LNG infrastructure investment and development of strategic petroleum storage facilities

Goyal to visit Saudi for ministerial meet of economic, investment committee

India and Saudi Arabia are expected to formulate a plan of action for strengthening bilateral cooperation in different areas and projects, including the west coast refinery project, an official statement said on Saturday. The issue will come up during the meeting between Commerce and Industry Minister Piyush Goyal and Minister of Energy of Saudi Arabia Prince Abdul Aziz Bin Salman on September 18-19. They would co-chair the inaugural ministerial meeting of the Economic and Investments Committee. The two ministers are expected to discuss the progress made under the various joint working groups of the economic and investment committee, the commerce ministry said. "Both sides are expected to formulate plan of action for further strengthening bilateral cooperation in an array of priority areas and projects, including the West Coast Refinery Project, Trans-ocean grid connectivity, Green Hydrogen, Food security, energy security and pharmaceuticals," it said. They may also accelerate ...

India, ASEAN endorse scope of review of trade pact: Commerce Ministry

Trade ministers of India and 10-nation bloc ASEAN have endorsed the scope of review of the trade pact to make the agreement more industry friendly, the commerce ministry said on Friday. The issue was discussed during the 19th ASEAN-India Economic Ministers' meeting in Siem Reap City, Cambodia. The review would make the agreement modern with contemporary trade facilitative practices, and streamlined customs and regulatory procedures. "The ministers endorsed the scope of the review of the ASEAN-India trade in goods agreement to make it more user-friendly, simple, and trade facilitative for businesses, as well as responsive to the current global and regional challenges including supply chain disruptions,' it said. The ministers also activated a joint committee to undertake the review of the agreement expeditiously. The Association of Southeast Asian Nations (ASEAN)-India trade in goods agreement was signed on August 13, 2009 and came into force on January 1, 2010. Ten ASEAN countrie

Govt clears 23 strategic projects under National Technical Textiles Mission

The Centre has cleared 23 strategic research projects of around Rs 60 crore in the areas of specialty fibres, sustainable textiles, geotextiles, mobiltech and sports textiles under its flagship programme National Technical Textiles Mission. The projects were approved under the chairmanship of Textiles Minister Piyush Goyal on September 14, an official statement said on Friday. "Among these 23 research projects, 12 projects of Speciality Fibres having application areas in agriculture, smart textiles, healthcare, strategic application and protective gears were cleared. "Four projects from sustainable textiles having application area in agriculture and healthcare sector were cleared. Also, five projects from geotextile, 1 from mobiltech and 1 from sportech were cleared," the Textile Ministry stated. While addressing the esteemed group of Scientists and Technical Technologists, Goyal said, "Industry and Academia connect is essential for the growth of research and development in the ..

Top Headlines: Petro products export share rises; RBI rate hike, and more

With the price index surprising on the upside in August, many analysts have pencilled in a higher inflation print in September as well and accordingly expect the RBI to frontload policy rate hikes

Goyal warns automakers against forcing component makers to import

Goyal's remarks disconcerted automakers and their suppliers.

Open Network for Digital Commerce: What does it mean and how will it work?

ONDC, which is being developed to tackle the duopoly of Amazon and Flipkart in the Indian e-commerce market, will use open specifications and network protocols independent of any one platform

Centre considering 100% WFH across all SEZ units, says Piyush Goyal

The move is expected to create employment opportunities in small cities and increase the export of services

PM Modi to release national logistics policy on Sep 17, says Piyush Goyal

Prime Minister Narendra Modi will release the national logistics policy on September 17, which is aimed at promoting seamless movement of goods across the country, Commerce and Industry Minister Piyush Goyal said on Tuesday. The policy is expected to focus on several areas such as process re-engineering, digitisation, and multi-modal transport. In 2020, the government, in the budget, had announced that it will soon release the national logistics policy. The move assumes significance as high logistics cost impact competitiveness of domestic goods in the international market. "On September 17, the prime minister is going to release the country's logistics policy," Goyal said here while addressing the members of the Board of Trade. The government has emphasised on the need to reduce logistics cost in the country from the current levels of 13-14 per cent of GDP. According to the commerce ministry, the sector is complex with more than 20 government agencies, 40 PGAs (Partner Governmen

Rupee shown more resilience than other currencies in recent years: Goyal

Indian rupee has shown more resilience than most of the other currencies in recent years and the compounded average growth rate of depreciation is lower as compared to pre-2014, commerce and industry minister Piyush Goyal has said. He also said that exporters should not be dependent on a depreciating rupee and they should stand on their own based on the quality of products and ability to serve the needs of customers in the global markets. "I do not think there is any comfortable or uncomfortable level for the rupee. Rupee finds its own place. It's a function of several natural factors -- a function of inflation, capital flows and the risk-reward ratio in each country. I am happy that the Indian rupee has shown more resilience than most of the currencies in recent years," Goyal said in a media interaction. To a query on what could be the comfortable level of the rupee where it does not hurt imports, and make exports competitive, the minister said: "If you look at the Indian rupee ...

Report to restructure commerce ministry under study: Piyush Goyal

The commerce ministry is in the process of studying in greater detail the report on its restructuring and there is a plan to set up a trade promotion body, Union minister Piyush Goyal said on Sunday. The ministry is working to redesign the Department of Commerce as India is targeting exports of goods and services to USD 2 trillion by 2030. The restructuring rests on pillars like increasing India's share in global trade, assuming leadership roles in multilateral organisations, creating 100 Indian brands as global champions, and setting up economic zones in India to strengthen the manufacturing base and attract greater investments. "We are in the process in the commerce ministry to redesign the structure of the ministry. And one of the ideas before us is to set up a trade promotion body, similar to Invest India, which will promote trade from India, for India," he told reporters here. Invest India, under the ministry, is an agency which facilitates investments into the country. He ad

Indian economy in 2047 will be like powerhouse driving global growth: Goyal

The Confederation of Indian Industry (CII) estimated that India in 2047 will be a $35-45 Trillion economy, taking the country into the league of developed nations, Piyush Goyal said

IPEF ministerial meet was inclusive and fruitful, says Piyush Goyal

Goyal said that on three out of four pillars related to supply chains, tax and anti-corruption and clean energy, India was comfortable with the outcome and text and has joined the declaration