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Commerce and Industry Minister Piyush Goyal will hold discussions with European Union Commissioner for Trade and Economic Security Maros Sefcovic during a two-day official visit.
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Commerce and Industry Minister Piyush Goyal also reaffirmed the government's commitment to safeguarding the interests of Indian exporters amid the evolving global trade scenario.
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Seemingly referring to Hyundai, the minister said the auto industry is sitting on high margins and should look at more competitive pricing
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Goyal expressed hope that in a day's time, IPEF would finalize a framework within which member nations could interact on different areas of mutual interest.
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Goyal also said that the country’s economy is growing at a healthy pace even in the current challenging times because of the ongoing war between Ukraine and Russia and Covid-19 pandemic.
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European Union Executive Vice-President and Trade Commissioner Valdis Dombrovskis has said the EU will formally launch negotiations for the proposed free trade agreement with India ”very soon”.
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With regards t the series of proposed trade deals currently being negotiated by the government, Goyal told industry leaders to be proactive in giving inputs to the government.
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"We are promoting innovation in agri sector," he said adding that changing climate would pose serious challenges to the sector and startups can look at these areas and come up with innovative solutions.
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Commerce Secretary Rita Teaotia said that Chief negotiators of both the sides will be meeting later this month.
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"Because of new industries, what (will) happen to existing industries? Our policy focuses on modernising existing industries as a first step," he said here at the AIMA function.
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"A number of obstacles remain, but both sides want to make significant progress in 2018," Ammann said after the meeting.
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The proposed meeting would be in the the backdrop of developed nations forming groupings to prepare ground for pushing investment facilitation, preparing rules for e- commerce, promoting gender equality and reducing subsidy on fisheries with a view to curbing illegal, unreported and unregulated fishing.
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In a video message to budding entrepreneurs on Twitter, the minister said the government has created a corpus of Rs 10,000 crore and has also decided to give guarantees to the tune of Rs 2,000 crore.
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"India needs several entrepreneurs who can become fountainheads of commercially viable ideas that will make a difference to the economy and the country," Sitharaman said while addressing the graduating students at the campus of Indian School of Business (ISB) in Mohali, near here.
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Commerce and Industry Minister Nirmala Sitharaman today said India has started implementing the liberalised visa regime with effect from April 1, a move that will help boost tourism and services trade.
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"Japan has requested the WTO Dispute Settlement Body for establishment of the panel in the WTO dispute...alleging that India's safeguard measures on certain iron and steel products are inconsistent with the WTO obligations," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
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Commerce and Industry Minister Nirmala Sitharaman today said Amercian phone-maker Apple's demand for tax incentives to set up a manufacturing unit in the country will have be looked at after the Goods and Services Tax (GST) is rolled out.
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The government has initiated three investigation cases against e-commerce companies till February this year for possible violation of the Foreign Exchange Management Act (FEMA), Parliament was informed today.
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A study has been carried out by a consultancy firm for the revival plan of loss-making trading firm PEC, Commerce and Industry Minister Nirmala Sitharaman said today.
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"Yes, there are lot of people telling me about it. Lot of people have approached me through the social media. I need to work together with the Consumer Affairs Ministry on this," Sitharaman told reporters here.
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India has submitted a proposal at the World Trade Organisation (WTO) to start discussions on trade facilitation agreement in services.
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Commerce and Industry Minister Nirmala Sitharaman today said more research, standards and aggregation are needed in the farm sector to enhance the income of farmers.
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India and European Union (EU) today discussed the possibility of accelerating the negotiation process of the proposed free trade agreement, which has been pending since long.
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India today discussed several issues, including proposed restrictions on American work visa and intellectual property rights (IPRs), with the visiting US lawmakers.
