Page 9 - Piyush Goyal

Piyush Goyal calls Italian business enclaves in India to boost investment

Commerce and Industry Minister Piyush Goyal on Thursday proposed to develop an industrial conclave for Italian businesses in India to promote investments. Speaking here at India-Italy Business Forum meeting, he said Italian companies can consider setting up manufacturing units and offices in those enclaves. "I have a proposition for you. We can set up Italian enclaves where Italian businesses can set up shops... we can set up hotels, restaurants, healthcare for Italian people who would come to work there. It will be home away from home for them," Goyal said. These industrial parks can be set up in the proposed industrail corridors in different parts of the country. The minister is here on a two-day visit. He is meeting leaders and businesses to boost trade and investments between the two countries. India would invite Italian companies to certain locations in India such as Dighi near Mumbai and Sambhaji Nagar (Aurangabad) in Maharashtra to showcase potential locations for these ...

India urges WTO to act on non-tariff barriers, ensure dispute resolution

India has called for action to curb non-tariff barriers, address trade distortions caused by non-market economies, and restore a strong dispute settlement mechanism at the WTO, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister also pitched for strengthening the current consensus-based approach at the World Trade Organisation (WTO), the special and differential treatment given to less developed countries and developing countries, and bringing back focus on issues that have already been finalised and mandated at previous ministerial meetings. "India made a strong pitch for addressing non-tariff barriers that certain countries use to deprive others of market access, take necessary action against non-market economies, ensure that we have a strong dispute settlement mechanism at the WTO so that finality can be brought and discipline can be maintained," Goyal told reporters here. The minister made these remarks in a meeting of about 25 ministers of WTO member ...

Goyal highlights 'India Opportunity' at India-France Business Conference

Union Minister for Commerce and Industry Piyush Goyal addressed the India-France Business Conference on Tuesday (local time), highlighting the 'India Opportunity', driven by a skilled and talented workforce and the government's commitment to ease of doing business, and how it offers promising avenue for French companies.In a post on X, Goyal stated, "It was a pleasure to address the India-France Business Conference, which brought together several Indian and French companies. Highlighted the 'India Opportunity', driven by a skilled & talented workforce and the government's commitment to ease of doing business, and how it offers promising avenues for French companies. Encouraged companies from both sides to collaborate by building on shared interests and leveraging each other's competencies. Deeper engagement between our businesses will play a significant role in further strengthening the India-France strategic partnership."He also addressed the India-France CEO Forum Small Group .

Goyal, Israeli economy minister discuss boosting trade, innovation ties

Our discussions focused on diversifying our trade basket, fostering innovation, and strengthening cooperation in high-tech and emerging sectors, Goyal said about the meeting

Piyush Goyal discusses opportunities in Indian shipping sector with S'pore

Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with Singapore's Deputy Prime Minister Gan Kim Yong and discussed ways to boost economic ties and huge opportunities in the Indian shipping sector. Goyal is here on an official visit to meet French leaders and businesses to host trade and investments between the two countries. In the last three-days, the minister has held a series of meetings with top CEOs and ministers, including International Energy Agency ED Fatih Birol, Nigeria's trade minister Jumoke Oduwole, French minister of economy and finance Eric Lombard, automotive supplier company Valeo Group CEO Christophe Perilat, and L'Oreal Groupe CEO Nicolas Hieronimus and highlighted huge investment opportunities in India. Goyal, in a post on X, said that he held a meeting with Gan Kim Yong, Singapore's Deputy Prime Minister and Minister for Trade and Industry. "Discussed enhancing our bilateral trade & investment ties. Also, highlighted the tremendous ...

India, US to give preferential market access to businesses, says Goyal

India and the US desire to give preferential market access to each other's businesses and teams of both the countries are working together on the proposed bilateral trade agreement, Commerce Minister Piyush Goyal has said. In February, US President Donald J Trump and Prime Minister of India Narendra Modi announced plans to negotiate the first tranche or phase of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by fall (September-October) of 2025. It is aimed at more than doubling the bilateral trade to USD 500 billion by 2030 from the current level of USD 191 billion. "Both countries are committed to work together, both countries desire to give preferential access to each other's businesses and we are working towards the bilateral trade agreement," Goyal told reporters here. Goyal is here on an official visit to hold talks with French leaders and business representatives to boost trade and investments. When asked about an announcement of Trump to double tariffs o

India weighs 3 options as US doubles safeguard duties on steel, aluminium

Retaliation, WTO action, or talks - three options on the table

Good news very soon on India-Oman free trade agreement: Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that negotiations between India and Oman for the proposed free trade agreement (FTA) are progressing, and some "good news" may come "very soon" on that. The negotiations received a much-needed impetus after the visit of Goyal to Muscat in January this year. The talks for the agreement, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. "I think you will see some good news very soon on the Oman FTA," the minister told reporters here when asked whether the FTA talks with Oman can be concluded this year. Goyal is here on an official visit to hold talks with French leaders and businesses to boost trade and investments. He will also attend a mini-ministerial meeting of the World Trade Organization (WTO) on June 3. In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease

Well on track in our bilateral trade agreement talks with US: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said negotiations with the US for a bilateral trade agreement are well on track. The negotiations for the trade agreement with the European Union (EU) are also progressing at a faster pace, he added. "We are well on track in our bilateral trade agreement with the US and making fast progress with EU," Goyal said at the CIIs annual general meeting event here. A US official team is visiting India next week for trade talks with India.

Possibility of interim trade deal between India, US by June 25: Report

With a team of US officials expecting to visit India next month for trade talks, there is a possibility that the two countries may agree on an interim trade pact by June 25, sources said. "Talks are moving. Things are on track," they said. India's chief negotiator, Special Secretary in the Department of Commerce Rajesh Agrawal, concluded his four-day visit to Washington last week. He held talks with his US counterpart on the proposed agreement. Commerce and Industry Minister Piyush Goyal was also in Washington last week to give an impetus to trade talks. He met with US Commerce Secretary Howard Lutnick twice during his visit. Both sides are looking at an interim trade deal before the first tranche of the proposed bilateral trade agreement (BTA) as the USA's 26 per cent reciprocal tariff on India is suspended till July 9 this year. It was imposed by the US on April 2. However, Indian goods still attract the 10 per cent baseline tariff imposed by America. In the interim trade deal,

India, EU push for early harvest trade pact amid ongoing FTA talks

Commerce and Industry Minister Piyush Goyal has met European Commissioner for Trade Maros Sefcovic in Brussels, their second meeting within a month, to discuss the proposed free trade agreement (FTA), currently under negotiation between the two regions. Goyal travelled to Brussels on May 23 from Washington, while India's chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations. The Indian minister held meetings with his EU counterpart earlier this month. "Delighted to welcome my friend and counterpart @PiyushGoyal. We continue to make progress. Let's maintain the momentum - with hard work, clear focus - and I look forward to our next meeting soon," Sefcovic said in a post on X. In response, Goyal, in a post on the social media platform, said, "We remain committed to the shared prosperity of India and the EU. Let us keep this pace going!". These deliberations assume significance as India and the 27-nation European Union are looking

Piyush Goyal meets US commerce secretary to discuss proposed trade pact

Commerce and Industry Minister Piyush Goyal on Friday held his second meeting with US Commerce Secretary Howard Lutnick in Washington to discuss the proposed bilateral trade agreement currently under negotiation between the two countries. On May 20 also, Goyal held a meeting with Lutnick to expedite the talks on the first phase of the trade pact. "Held a constructive meeting with Secretary @HowardLutnick for a mutually beneficial trade agreement. Committed to enhancing opportunities for our businesses and people," Goyal said in a post on X. The meeting assumes significance as both the countries are looking at finalising an interim trade pact by July 8. The four-day discussions between the chief negotiators have also concluded in Washington on May 22. In the interim trade deal, New Delhi is pushing for full exemption from the 26 per cent reciprocal tariff on Indian goods. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90

'Omanisation' last key issue in concluding India-Oman FTA talks: Official

The negotiations for the proposed India-Oman free trade agreement are nearing conclusion with both sides discussing the last issue of the Gulf country's labour-related 'Omanisation' policy, as New Delhi wants the current regime to remain unchanged for its workers, an official said. Omanisation is a policy implemented by Oman to boost the employment of its citizens in the private sector. The policy mandates companies to meet specific quotas for hiring Omani nationals. These quotas vary by sector and are periodically revised. "There is a requirement in Oman for companies to employ a specified percentage of Omani nationals, which varies by sector - 15 per cent or 20 per cent or 30 per cent...What we want is that this current regime of Omanisation should remain permanent for us, so that it does not become more restrictive in the future after the FTA is finalised," the official said. The negotiations received a much-needed impetus after the visit of Commerce and Industry Minister Piyush

Govt extends quality order deadline for electrical items to March 2026

The government on Tuesday said it has extended the implementation timeline for the mandatory quality control order (QCO) on certain electrical appliances by one year, till March 2026 following stakeholder consultations. The QCO will be applicable to all electrical appliances intended for household, commercial or similar applications with rated voltage not exceeding 250 Volt for single-phase appliances and 480 Volt for other appliances including direct current (DC) supplied appliances and battery-operated appliances. The Department for Promotion of Industry and Internal Trade (DPIIT) said that the order would not apply to electrical appliances which fall under the scope of any other QCO. The horizontal QCO on safety of household and commercial electrical appliances was discussed on May 15 with stakeholder consultation meeting, where Commerce and Industry Minister Piyush Goyal had acknowledged concerns raised by the industry and had agreed to consider the request to extend the ...

Trade talks: India to push US to lift non-tariff curbs for goods exporters

The official said industry has raised regulatory hurdles and high cost of certification among other issues in the US as primary obstacles to increasing exports to the US

Tough India-US trade discussions amidst irritants over tariff tensions

In March this year, soon after the US raised its duties on steel and aluminium, China and Canada proposed retaliatory tariffs against imports from the US

India-US trade agreement talks to resume May 17 with ministerial oversight

India and US trade ministers will meet in Washington from May 17 to assess progress on the bilateral trade agreement, provide political direction, and advance talks toward a broader trade pact

India's retaliatory tariff proposal to feature in trade talks with US

India to discuss proposed retaliatory tariffs on US goods during trade talks starting May 17, amid efforts to finalise a broader bilateral trade agreement targeting $500 billion by 2030

Piyush Goyal to visit US for trade talks from May 16: What's on the agenda?

The four-day discussions, scheduled from May 17 to 20, will involve key meetings with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick

Goyal to lead team of officials to Washington for trade talks from May 16

Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit. The four-day talks come against the backdrop of both countries exploring the possibility of an interim trade arrangement in goods to secure "early mutual wins" ahead of finalising the first phase of the trade agreement by fall (September-October) this year. Through these discussions, officials from New Delhi and Washington aim to take advantage of the 90-day tariff pause window to advance the talks. The US has suspended the additional 26 per cent tariffs on India till July 9. It was announced on April 2 to bridge the widening trade deficit. However, the 10 per cent baseline tariff imposed on the countrie