Page 6 - Piyush Goyal

Goyal woos Canadian investors to partner with India in clean energy, AI

Commerce and Industry Minister Piyush Goyal has held meetings with Canada's leading pension funds, sovereign and institutional investors, and invited stakeholders to partner with India in areas such as clean energy, technology, digital infrastructure, AI, and manufacturing. The minister is in Canada for a three-day official visit. "Delighted to co-chair the 'Canada-India Investment Roundtable' alongside Mr. @MSidhuLiberal, Minister of International Trade of Canada. Held extensive discussions with Canada's leading pension funds, sovereign and institutional investors, members of the Canada-India Business Council and other stakeholders," Goyal said in a social media post. During the meeting, he highlighted India's focus on infrastructure, financial sector reforms and ease of doing business to create opportunities for global investors. Goyal also held a series of bilateral meetings with business representatives to discuss investment opportunities in India and areas of increasing ...

India and Canada to conclude Cepa by November, says Piyush Goyal

Carney, after a meeting with Goyal, called the Cepa between the two nations a "game changer".

India-Canada aim to conclude CEPA by year-end; triple trade by 2030: Goyal

Goyal said that he has arrived in Ottawa with the largest Indian business delegation in the country's history, showcasing India's commitment to the relationship

Goyal's Canada visit may accelerate Cepa negotiations, deepen energy ties

Piyush Goyal's Canada visit is set to push CEPA talks forward, with energy security, clean energy and trade diversification in focus

India's exports rise 13.8% in April; FDI hits record $95 billion: Goyal

The country's exports have recorded healthy growth during the first three weeks of May, Commerce and Industry Minister Piyush Goyal said on Saturday. He also said that while the world is going through a turmoil, India is relentlessly rising on global stage as it is recording health growth in exports and foreign direct investment (FDI). "I have seen the numbers of exports even in the last three weeks. The pace of growth which we witnessed in April continues into May. We have been able to demonstrate resilience in the face of so many adversities," he told reporters here. Exports rose by 13.78 per cent to USD 43.56 billion in April, the highest monthly outbound shipments in more than four years, driven by petroleum products amid a surge in crude oil prices, but trade deficit widened to a three-month high of USD 28.38 billion due to an uptick in imports. The minister said that FDI during 2025-26 has touched an all time high of USD 95 billion, an increase of 17 percent year on year. Th

Goyal to visit Canada next week to boost FTA talks, attract investments

Commerce and Industry Minister Piyush Goyal on Saturday said he will lead a business delegation of over 150 members to Canada on May 25-27 to seek investments, enhance collaborations and give impetus to talks for the proposed free trade agreement (FTA). He said that a series of meetings is in the pipeline with leaders and businesses in Ottawa and Toronto. The minister will call on Canadian Prime Minister Mark Carney and hold a bilateral meeting with his Canadian counterpart Maninder Sidhu. Goyal said that he will also meet representatives of "Maple 8" pension funds of Canada. The "Maple 8" refers to Canada's eight largest public pension funds, which together manage assets worth about 2.4 trillion Canadian dollars and are considered among the world's most influential long-term investors. The group includes major funds like the Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan, and Ontario Municipal Employees Retirement System. These funds invest extensively acros

Centre launches Bhavya scheme to set up 100 industrial parks across country

According to the minister, the Centre expects states to provide a favourable environment to encourage industrial development

Goyal discusses ways to boost manufacturing with industry representatives

An inter-ministerial meeting was held with industry associations to discuss ways to boost the country's manufacturing, Commerce and Industry Minister Piyush Goyal said on Friday. He said that the government is committed to working closely with the industry to expand manufacturing capacities, enhance quality standards and strengthen competitiveness. A comprehensive meeting with officials from key ministries and leading industry associations was held to strategise on boosting domestic manufacturing, he said in a social media post. The meeting comes at a time when the government is working with the industry to identify about 100 products -- including those from the auto, chemicals, plastics and petrochemicals sectors -- that are either not produced or manufactured inadequately in India, as part of efforts to boost domestic production. The exercise is aimed at reducing the import bill of the country, as outflows of foreign exchange are impacting the value of the domestic currency again

West Asia crisis: Centre taking steps to ease container movement at JNPA

The Union government is taking steps to ease container movement at JNPA amidst rising global supply chain challenges due to the West Asia crisis, an official statement said on Friday. The statement further said that Union ministers Piyush Goyal and Sarbananda Sonowal reviewed the global supply chain challenges with EXIM industry stakeholders. According to the statement, rail evacuation, waiver of handling charges, Green Channels and trailer pooling among measures are rolled out to sustain Ease of Doing Business (EODB). The statement pointed out that the government of India has initiated a coordinated "Whole of Government" response to address concerns raised by the EXIM community. Union Minister of Commerce & Industry Piyush Goyal and Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal held a high-level meeting with representatives of the All India Liquid Bulk Importers and Exporters Association to review the evolving situation and discuss immediate and long-term ..

Goyal on three-day Canada tour from May 25 to speed up Cepa negotiations

The upcoming visit will mark the first minister-level discussions between India and Canada after the signing of the terms of reference for the free trade agreement in March

Considering several steps to contain widening CAD, says Piyush Goyal

Goyal said the government has no plans to cut non-essential imports into India as of now

US trade team likely to visit India next month for talks: Piyush Goyal

The US team is likely to visit India next month for trade talks with their counterparts here, Commerce and Industry Minister Piyush Goyal said on Thursday. The Indian side visited Washington, DC, in April for an in-person round of meetings with their US counterparts to finalise the details of the interim pact and take forward the negotiations under the broader bilateral trade agreement (BTA). When asked if the US chief negotiator for the BTA will accompany US Secretary of State Marco Rubio, Goyal said "he's not coming with him, but there is some plan for them to come next month". Rubio will undertake a four-day visit to India beginning May 23 to further cooperation in the fields of trade, defence and energy. This will be his first visit to India. India and the US issued a joint statement on February 7 finalising a framework for an interim trade agreement. However, a US Supreme Court ruling struck down all reciprocal tariffs, which had served as the Trump administration's main ...

Several measures under consideration to contain widening CAD: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said the government is monitoring the present situation and several steps are under consideration to contain the widening of current account deficit (CAD). India's CAD rose to USD 13.2 billion, or 1.3 per cent of GDP, in the December quarter from USD 11.3 billion in the year-ago period, mainly due to a wider trade gap caused by a decline in exports to the US, according to RBI data released on March 2. However, the CAD moderated to USD 30.1 billion (1 per cent of GDP) in April-December 2025 from USD 36.6 billion (1.3 per cent of GDP) in the same period a year ago. A CAD occurs when the value of goods and services imported and other payments exceeds the value of export of goods and services and other receipts by a country in a particular period. "We are monitoring the situation. All the various arms of the government are working as a team. Several steps are under consideration. The situation globally is quite challenging but we

FTAs must drive exports, not just imports: Commerce Minister Piyush Goyal

Commerce Minister Piyush Goyal urged Indian industry to use upcoming FTAs to boost exports and avoid a surge in imports

Piyush Goyal urges industry to cut dependence on capital goods imports

Goyal urges industry to cut import dependence as rupee hits fresh low and exports push intensifies

Piyush Goyal asks industry to boost manufacturing to reduce imports

Commerce and Industry Minister Piyush Goyal on Monday asked the industry to identify goods that can be manufactured in India to help reduce import dependence of those products. He also suggested increasing exports and buy goods manufactured in India, rather than importing them. Addressing domestic traders, he said, "You should keep an eye on what goods are being imported, you will see opportunities in that too, what things can be manufactured in India." Goyal urged stakeholders to study import trends through the commerce ministry's trade portal and identify opportunities for domestic manufacturing and import substitution. The minister said despite global economic uncertainties, triggered by Russia-Ukraine and West Asia crisis, India's exports rose about 5 per cent to USD 863.11 billion in 2025-26. "This year's target is USD 1 trillion. This is a big target. We have to work together for this," Goyal said, adding that the industry should focus on quality, improving competitiveness a

India targets $1 trillion goods and services exports this year: Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday asked for taking the country's goods and services exports to USD 1 trillion this fiscal year. In 2025-26, exports reached an all-time high of USD 863.11 billion, registering an increase of 4.6 per cent year-on-year, despite global economic uncertainties, including high US tariffs, the ongoing Russia-Ukraine war and the West Asia crisis, he said. Merchandise exports grew 0.93 per cent to USD 441.78 billion in the last fiscal year from USD 437.70 billion in 2024-25. Services shipments too surged to an all-time high of USD 421.32 billion in 2025-26, compared to USD 387.55 billion in 2024-25, recording a growth of 8.71 per cent. "This year, let's aspire for a USD 1 trillion exports target. It's possible," he said at an event here. The minister said that taking from USD 863 billion to USD 1 trillion needs USD 137 billion, which is a 16-17 per cent growth. The minister added that India is opening doors and is providing preferenti

India plans 500 delegations, outreach to industry to boost FTA utilisation

The commerce ministry is preparing granular plans to boost the utilisation of free trade agreements (FTAs) by Indian industry, including sending 500 delegations abroad, training 1,000 people, and engaging with 1,600 industry chambers, Union Minister Piyush Goyal said on Tuesday. The commerce and industry minister asked the Indian industry to increase utilisation of these pacts as it will help boost exports and attract investments at a time when the global economy is facing challenges. "We are making very granular plans on how we can leverage all these FTAs and convert the global crisis into a golden opportunity," he said at the CII annual business summit here. Since 2021, India has finalised trade deals with Mauritius, the UAE, Australia, Oman, New Zealand, EFTA bloc, UK and the EU. Goyal said that countries such as Switzerland, the United States and nations in the European Union have much higher per capita incomes and cannot manufacture products at a cost lower than India. The ..

India-Oman FTA likely to come into force from June 1, says Piyush Goyal

The free trade agreement (FTA) between India and Oman is expected to come into force from June 1, Commerce and Industry Minister Piyush Goyal said on Tuesday. The pact was signed in December 2025. "I have had a good meeting with Oman team today and most probably the Oman free trade agreement will come into effect from June 1, 2026," he told reporters here. The Oman team is here to discuss ways to boost trade and investments. The agreement will provide duty-free access to 98 per cent of India's exports, including textiles, agri, and leather goods in Oman. On the other hand, India will reduce tariffs on Omanese products such as dates, marbles and petrochemical items. When asked about his meeting with the Chilean foreign minister here, Goyal said there are challenges given the different size of the economies and different scale of opportunities that both countries offer to each other. "We are trying to bridge that gap through innovative solutions. "If we get a good deal around crit

India got EU market opened for seafood through active talks: Goyal

India actively negotiated with the European Union to open its market for seafood exports, helping the country overcome challenges arising from steep US tariffs, Union Commerce and Industry Minister Piyush Goyal said on Sunday. Addressing reporters here, he said the government anticipated disruptions and acted swiftly to secure alternative markets for Indian exporters. "Our government works 24 hours. Often, even before a problem arises, we begin planning and action," he said. Goyal said the US decision to impose 50 per cent tariff on Indian seafood had dealt a major blow to exports and caused distress among fishermen. "When America imposed a 50 per cent tariff on Indian seafood, our exports suffered a big setback. Fishermen were very worried. The Centre responded by engaging with the European Union and addressing regulatory bottlenecks that had earlier restricted Indian shipments," he pointed out. Several Indian fishing establishments had been delisted by the EU in the past, but In