India Targeting $2 Trn Merchandise, Services Exports By 2030: Goyal

India is targeting USD two trillion in exports by 2030, equally divided into merchandise and services, said Union Commerce Minister Piyush Goyal on Wednesday.   While speaking at an event, Goyal said that India has invited Egypt to participate as a guest country in the G-20 meetings during its presidency which is a testament to the high priority India attaches to its relations with Egypt.  “We have a history of close and friendly bilateral ties based on shared values and a common vision for regional and global peace and prosperity,”…

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Services Exports Likely To Cross $300 Bn Target For Current Fiscal Year: Piyush Goyal

Goyal said that export services are marking healthy growth on the merchandise front too, despite the world seeing recession, overstocking of multiple commodities and enormous inflationary pressure India’s exports businesses are performing extremely well and noticing the present trend and the outbound shipments would register approx 20 per cent growth in the current financial year and tends to cross the USD 300 billion target despite global economic uncertainties, said Piyush Goyal, Minister of Commerce and Industry in the inaugural session of B20 India Inception Meeting organised by industry chamber CII.…

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Apple Likely To Manufacture 25% Of iPhones In India, Says Piyush Goyal

Piyush Goyal, India’s minister of commerce and industry has said that the country’s favourable business environment is encouraging global firms to set up shop there. Apple, for example, is looking to expand its manufacturing in India.   He asserted that the rule of law, open government policies, lack of opaque business models, and absence of covert subsidies are key factors in luring in foreign capital. Underlining the business success of certain foreign companies, the minister stated, Apple already has 5 to 7 per cent of its manufacturing in our country…

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Indo-UAE MSMEs Will Be Biggest Beneficiaries Of CEPA: Piyush Goyal

Micro, small and medium enterprises (MSMEs) of India and UAE will be the biggest beneficiaries of the comprehensive economic partnership agreement (EEPA), said Union Commerce Minister Piyush Goyal on Monday.  While speaking at the fourth plenary session of the B20 India inception meeting,  he said that both countries are engaging with each other and exploring opportunities to meet the needs of each other countries.  He said, “India is in dialogue with some of the larger companies of UAE to leverage the best out of CEPA.” On, the district as an…

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Large Firms Must Take Responsibility To Handhold MSMEs: Piyush Goyal

Large companies must take responsibility to handhold micro, small and medium enterprises (MSMEs), help them adapt best practices and integrate them into the supply chain ecosystem, said Union Commerce Minister Piyush Goyal on Monday. While speaking at the fourth plenary session of the B20 India inception meeting, he noted that MSMEs flourish around a larger unit or anchor.  Citing an example, he said, as Apple’s manufacturing plant comes up, thousands of MSME units flourish in the ecosystem as mini value chain suppliers to Apple.  The minister also said, “MSMEs have…

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India Hopes To Power World Economy Via Collaborations, Cooperation: Goyal

Amidst the global economic slowdown, India hopes to power the world economy through collaborations and cooperation, said Union Commerce Minister Piyush Goyal on Monday. While addressing the inception meeting of Business 20 (B20), the official G-20 dialogue forum with the global business community in Gandhinagar, he asked businesses to adopt a sustainable and green approach to business practices.  He asked them to use the forum of B20 along with G-20 to look at how we can collectively work towards a sustainable and equitable future agenda.  The minister added that through…

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Footwear Industry Should Prioritise Quality & Establish Itself Globally: Piyush Goyal

Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal has asked the footwear industry to focus on quality and reduce import dependence to capture a larger share in the international Market on Saturday.  The Minister has emphasised that Quality Control Orders (QCO) for leather and non-leather footwear would be implemented with effect from 1 July 2023. He reiterated that BIS standards need to be strictly followed for better quality and larger production which eventually leads to good quality products for the consumers. Goyal…

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US Commerce Secretary To Visit India For Trade Talks In March

Gina Raimondo, US Commerce Secretary, will visit India in March of this year, accompanied by a high-powered delegation of global CEOs, Piyush Goyal, Union Minister of Commerce and Industry, said on Wednesday. He made the announcement after the 13th India-US Trade Policy Forum concluded in Washington. “I had the opportunity to meet with US Commerce Secretary Gina Raimondo. We have set the dates for the next commercial dialogue and the CEO Forum meeting in India for 9 and 10 March, Union Commerce Minister said during a press conference in Washington,…

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G20 Summit Is A ‘Great Opportunity’ For India To Showcase Its Strengths, Says Piyush Goyal

The next G20 summit presents a “great opportunity” for India to showcase many of its strengths and provide leadership to several global challenges, according to Commerce and Industry Minister Piyush Goyal. Goyal is in the United States on an official business trip. On Wednesday, he co-chaired the India-US Trade Policy Forum with US Trade Representative Katherine Tai. “The G-20 will be a very exciting opportunity for India to provide leadership to many of the challenges before the world. It will be an excellent opportunity for us to highlight India’s many…

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MP Is Emerging As An Economic Tiger, Says Piyush Goyal

Union Minister for Commerce and Industry Piyush Goyal today highlighted Madhya Pradesh as an ideal investment destination and called upon investors from across the world to become partners in the progress and growth of MP. Goyal virtually addressed the Madhya Pradesh Global Investors Summit 2023 at its inaugural day today.  “Central location, ample land, infrastructure and skilled resources make MP an ideal investment destination,” Goyal said. Talking about the summit, the union minister said that this summit offers an opportunity to the industry to participate in the vibrant future of…

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