COMMERCE AND INDUSTRY MINISTER PIYUSH GOYAL
Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal
Goyal noted that technological progress in the drone industry will help farmers in getting higher quality crops and will also help in increasing the yield of crops,
PLI scheme only kickstarter not permanent: Piyush Goyal
Commerce Minister Piyush Goyal emphasizes that the PLI scheme for drone components is meant to kickstart the sector, not provide permanent subsidies. He encouraged industry to focus on growth without depending on government support. Goyal highlighted India's stock market boom and global trade engagement.
PESO to formulate safety norms to allow petrol pumps within 30-50 mtrs of habitation: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has instructed PESO to develop safety guidelines for petrol pumps to operate near residential areas, offered concessions for women entrepreneurs and MSMEs, and chaired a meeting to boost PESO's efficiency. He emphasised formulating guidelines in collaboration with CPCB and MoPNG, QR codes for cylinders, and potentially extending licence durations. Stakeholder feedback will inform further committee decisions to streamline regulatory processes.
Andhra CM Chandrababu Naidu meets Union ministers Piyush Goyal, Ram Mohan Naidu Kinjarapu
The meeting assumes significance as Naidu has declared rebuilding Amaravati, the capital city of Andhra Pradesh. The project is expected to require central assistance and clearance.
Government forms Cabinet Committees, includes Union Ministers from NDA allies
The central government has formed eight Cabinet Committees, including the Appointments Committee of the Cabinet, Cabinet Committee on Accommodation, Economic Affairs, Parliamentary Affairs, Political Affairs, Security, Investment and Growth, and Skill Employment and Livelihood, with key ministers and special invitees designated to each committee to address various aspects of governance and decision-making.
India issued one lakh patents in 2024, ten years back it was just 6000: Piyush Goyal
India has seen a significant rise in the number of patents granted, reaching around one lakh in 2024, a substantial increase from the 6,000 patents issued annually a decade ago, according to Union Minister of Commerce and Industry Piyush Goyal. The announcement was made during an outreach program with industry leaders and stakeholders in Hyderabad, Telangana.
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India is witnessing high foreign remittances & FDI inflow: Goyal
India's thriving investment appeal is evident with high foreign remittances and FII inflows, while regulatory reforms and sector openings attract global interest. Elon Musk's potential investments in the space and EV sectors signal promising developments for India's economic growth and international partnerships.
Government sensitive towards farmers' demand: Piyush Goyal
The government of India will make all efforts to waive the penalty on excess tobacco produced by the tobacco farmers, highlighted Union Minister of Commerce and Industry Piyush Goyal during a meeting with Farmers and traders of tobacco in Hyderabad on Saturday.
Confident of $800 billion exports in FY25: Piyush Goyal
Amidst global challenges, India's export sector is anticipated to thrive under Minister Goyal's projections. Efforts to establish specific targets, navigate FTA negotiations, and preserve diamond export interests are crucial in sustaining India's export growth trajectory.
Confident of over $800 billion exports in goods, services this fiscal, says Piyush Goyal
India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter. This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and the same was USD 8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.
Exporters' body urges Piyush Goyal to restore IES benefits for all
Exporters have raised concerns over the short two-month extension of the Interest Equalisation Scheme (IES), exclusively for MSMEs, impacting labor-intensive exports. FIEO president Ashwani Kumar emphasised the scheme's broad benefits for various exporters and urged the Commerce Minister to restore the full scheme to support struggling sectors facing challenges like increased freight rates and rising interest rates. Despite FIEO's request for broader benefits, the DGFT limited the scheme to MSMEs with a capped outlay of Rs 750 crore.
Piyush Goyal to meet exporters Thursday
India’s goods exports in FY24 were $437.1 billion and imports were $675.4 billion. The ministry has been developing standard operating procedures to negotiate free trade agreements with other countries and could come up for discussion, said another person aware of the meeting. Exporters are also likely to take up the issue of extending the Production-Linked Incentive (PLI) scheme to leather intensive sectors such as leather and footwear.
Export duty on onions to stay as domestic prices recover
India's central government is unlikely to remove the 40% export duty on onions imposed last month, as domestic onion prices have almost doubled in the last month. The average rate of onions at the benchmark Lasalgaon APMC was Rs 28/kg on Tuesday, up 40% in the last 15 days and double of what it was a month ago. The rising onion prices have slowed down the pace of government onion procurement operations to create a strategic reserve under the Price Stabilisation Fund.
Aim to make Viksit Bharat by 2047: Commerce and industry minister Piyush Goyal
Commerce and industry minister Piyush Goyal aims to make India a Viksit Bharat by 2047, emphasizing new opportunities for youth. Goyal, who recently took charge for the second time, is focused on promoting economic growth and addressing challenges ahead.
Need to build on success of PLI schemes, recent FTAs, PPP governance model: Piyush Goyal
Goyal said that there is a need to introspect and coordinate better between departments and emphasised the importance of research and development and strengthening the public-private partnership (PPP) model of governance.
Modi Cabinet 3.0: Here are 10 ministers who retained key portfolios
The Modi-led government announced the allocation of portfolios for several BJP Lok Sabha members, ensuring key ministers like Amit Shah, Rajnath Singh, Nirmala Sitharaman, and S Jaishankar retain their positions from Modi 2.0. New assignments include Ashwini Vaishnaw as Minister of Railways, Information and Broadcasting, and Electronics and Information Technology. Nitin Gadkari continues as Minister of Road Transport and Highways, and Sarbananda Sonowal as Minister of Ports, Shipping and Waterways. Shivraj Singh Chouhan gets agriculture and rural development, JP Nadda health, and Manohar Lal Khattar power, reflecting continuity and change in the cabinet.
Old team, new beginnings: Big four intact, PM Modi sends big message
Besides big four, PM's core team of ministers have also retained their portfolios. Nitin Gadkari (road transport and highways), Piyush Goyal (commerce and industry), Dharmendra Pradhan (education), Sarbananda Sonowal (ports, shipping and waterways), Virendra Kumar (social justice and empowerment), Ashwini Vaishnaw (railways, electronics and information technology), Hardeep Puri (petroleum and natural gas) and Bhupender Yadav (environment, forest and climate change) will continue running the ministries they were handling in the last five years. Some of them have shed additional portfolios that were allocated when others left the council of ministers in the past.
Piyush Goyal returns as Union minister in new avatar as 1st time Lok Sabha member
Piyush Goyal, 59, who has been a Rajya Sabha member since 2010, eloquently articulated the government's position on different occasions during debates on various issues in the Upper House of Parliament.
'Conspiring to mislead the investors': BJP hits back at Rahul Gandhi on 'stock market scam' charge
BJP responds to Rahul Gandhi's stock market scam allegations against PM Modi and Amit Shah. Piyush Goyal accuses Rahul of creating fear in investors, highlights India's economic growth and market cap increase.
Shah, Rajnath, others in huddle at Nadda house
Nadda and Shah held a meeting with former Haryana chief minister Manohar Lal, followed by another meeting with railway minister Ashwini Vaishnaw, commerce minister Piyush Goyal, party general secretaries Tarun Chugh and Vinod Tawde, among others.
Mumbai records low voter turnout despite celebrity presence
Several Bollywood celebrities and industrialists made their way to polling booths to cast their votes and encourage Mumbai residents to do the same. Notable figures such as Union Minister Piyush Goyal, industrialist Anil Ambani, and actor Akshay Kumar voted early in the day. Later, film industry stars like Paresh Rawal, Shahid Kapoor, Sanya Malhotra, Rajkumar Rao, Janhvi Kapoor, Anupam Kher, and Manoj Bajpayee were seen at various polling stations across the city. Cricket legend Sachin Tendulkar and star batter Suryakumar Yadav also cast their votes, along with expectant parents Deepika Padukone and Ranveer Singh.
60% turnout in Phase 5 of 2024 Lok Sabha elections; J&K’s Baramulla steals thunder
Over 60% voter turnout was recorded in the fifth phase of the Lok Sabha elections, which covered 49 constituencies across eight states and Union Territories, according to data from the Election Commission’s Voter Turnout App. The final figures are anticipated to increase.
Arvind Kejriwal on campaign trail will add to BJP votes: Piyush Goyal
The Supreme Court last Friday granted interim bail to Kejriwal, who has been arrested in a money laundering case linked to the alleged excise policy scam involving several AAP leaders, to allow him to campaign for the ongoing Lok Sabha elections.
BJP will implement UCC after returning to power: Union minister Piyush Goyal
Union minister and BJP candidate for Mumbai North Lok Sabha seat, Piyush Goyal, expressed commitment to implementing the Uniform Civil Code (UCC) if elected for a third term. He defended BJP's manifesto, dismissing opposition criticism. Prime Minister Modi highlighted achievements and urged for another mandate to shape India's future. Elections in Maharashtra will take place in five phases, with Mumbai polling on May 20.
India is consensus builder: Piyush Goyal
At MC13, Piyush Goyal demands countries at the WTO meet world expectations, including a permanent solution for public stockholding. He allays farmers' fears and pushes for the restoration of the Appellate Body to resolve disputes on unfair practices.
Startups are the backbone of new India: Piyush Goyal
Piyush Goyal, India's Minister of Commerce and Industry, emphasized the country's global leadership in a curtain raiser event for the upcoming 'Startup Mahakumbh.' Calling startups the backbone of the new India, he urged entrepreneurs to capitalize on opportunities as India aims for a $35 trillion economy by 2047.
India does not rush into trade agreements if it is not fair, balanced, equitable: Goyal
India's Commerce and Industry Minister, Piyush Goyal, emphasizes that India does not rush into Free Trade Agreements (FTAs) unless they are equitable, balanced, and fair for the country. He highlights the changed ground realities in India and stresses the importance of thorough negotiations. Current FTA negotiations include the UK, Oman, and the European Free Trade Association (EFTA).
Hope that countries will come to WTO meet with positive attitude like India: Piyush Goyal
India hopes for a positive outcome at the upcoming WTO meeting in Abu Dhabi, urging other countries to listen to the concerns of developing nations. Commerce Minister Piyush Goyal highlighted the WTO's role in setting trade rules but also acknowledged significant problems within the organization. The meeting will discuss various issues including agriculture, fisheries subsidies, and e-commerce trade duties. Goyal emphasized the need to conclude ongoing WTO issues like dispute resolution and reforms.
India continues to be preferred destination for foreign direct investment: Piyush Goyal
Commerce and Industry Minister Piyush Goyal highlighted India's resilience as a preferred destination for Foreign Direct Investment (FDI) despite global interest rate hikes. He noted that while interest rates surged globally, leading to capital flow back into developed nations, India's robust demand and opportunities prevented a significant downturn compared to other developing economies.
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