Page 47 - Piyush Goyal

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Piyush Goyal calls for redoubling efforts at WTO for TRIPS waiver

In June last year, members of the WTO agreed to grant a temporary patent waiver for the manufacturing of Covid-19 vaccines for five years

Goyal calls upon Global South nations to help build resilient supply chains

Goyal also emphasised upon the need for de-politicisation of the global supply of essential medicines

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India looking at bigger ambitions in trade with US, says Piyush Goyal

Two specific targets for this elevated engagement were semiconductors and defence production

India, US establish new trade group to build sustainable supply chains

The Trade Policy Forum, revived in 2021 after a gap for four years, will reconvene on a ministerial level before end of 2023

G20 summit great opportunity for India to showcase its strengths: Goyal

The next G20 summit presents a "great opportunity" for India to showcase many of its strengths and provide leadership to several challenges the world is facing, Minister of Commerce and Industry Piyush Goyal has said. Goyal is in the US on an official visit. He co-chaired the India-US Trade Policy Forum meeting with US Trade Representative Katherine Tai on Wednesday. The G-20 is going to be a very exciting opportunity for India to provide leadership to many of the challenges before the world. It is going to be a great opportunity for us to showcase the many strengths of India, he told reporters at a news conference here on Wednesday. India formally assumed the G20 Presidency on December 1. The next G20 Leaders' Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10 in New Delhi. Prime Minister Narendra Modi has said India will work to further promote oneness, inspired by the theme of One Earth, One Family, One Future and listed terrorism, ...

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