Commerce And Industry Ministry

Building on the successes of previous editions, BRAP 2024 aligns with key government initiatives such as the Reducing Compliance Burden and decriminalisation, it said

Indo-US Trade Policy Forum to meet on January 11 in Washington

The meeting will be co-chaired by Commerce and Industry Minister Piyush Goyal and US Trade Representative Katherine Tai.

DPIIT working on policy for auction of salt land to private players

In May last year, the DPIIT had sought applications for the empanelment of valuers in Salt Commissioner's Organization (SCO) for a period of five years.

Hopeful of improvement in FDI inflows in coming months: DPIIT official

FDI equity inflows into India contracted by 14 per cent to USD 26.9 billion during the April-September this fiscal, according to the DPIIT data.

India's FDI inflow hits all-time high of over Rs 6 lakh crore in FY22

FDI equity inflow in manufacturing sectors increased to more than Rs 1.58 lakh crore in FY22, as compared to Rs 89,766 crore clocked in the previous fiscal.

Govt focusing on making gem, jewellery sector self-reliant: Piyush Goyal

The sector contributes 7 per cent to the GDP and employs around 50 lakh people, Piyush Goyal said.

DPIIT to soon begin nationwide consultations on ease of doing business 2.0, officials say

EoDB 2.0 is aimed at accelerating making factory production, improving logistics, and strengthening value chains. It would also carry forward the overall government endeavor to digitise manual processes and interventions, and integrate central and state-level portals through Information technology.

India on track to achieve $400 billion exports, negotiating FTAs with countries: Piyush Goyal

In a reply during Question Hour in the Lok Sabha, Piyush Goyal said the prices of most of the commodities, including petroleum products, are prevailing high and because of this there is a stress on all sectors.

Govt taking significant steps to boost startup ecosystem: Piyush Goyal

Piyush Goyal also said that huge opportunities are there for startups in tier 2 and 3 cities and areas like advertising, marketing, professional services, fitness and wellness, gaming and sports and audio-video services.

India received record FDI in last 7 years; hope to see the trend continue: Piyush Goyal

Piyush Goyal also said that India is focusing on integrating its quality standards with the world and the country needs to let go of the mindset of a particular product being for the domestic market and others for the export market.

Govt has not taken any decision on Air India so far: Piyush Goyal

"I have been in Dubai since...day before and I don't think there is any such decision that has happened at all. Of course bids were invited...and that is assessed by the officers and in due course of time, there is a whole well laid down process through which the final winner will selected," Piyush Goyal told reporters.

Exclusive | Consumer Affairs Ministry stands ground on draft ecommerce rules

Niti Aayog and the finance and corporate affairs ministries have opposed the draft ecommerce rules for being too harsh. The difference of opinion may linger, with the consumer affairs ministry sticking to its position for now.

Irrational subsidies, overfishing by many countries hurting Indian fishermen: Piyush Goyal

The minister has also stated that the proposed agreement has to provide for current and future needs as the per capita fisheries subsidy given by most developing countries is minuscule compared to advanced fishing nations.

April exports up three times on low base effect; imports soar 163%

The large rise is due to the extremely low volume of trade beginning in March, 2020 when the nationwide lockdown had been first instituted.

Low base pushes up March exports by 60%, imports soar 53.7%

Taking into account March figures, India's cumulative exports in 2020-21 are now expected to be $290.63 billion, down from $314 billion in the previous financial year.

March exports likely rose 58% due to low base effect, imports soared 52%: Preliminary trade data

According to preliminary data received by the government, March saw exports worth $34 billion. As a result, India's cumulative exports in 2020-21 are set to be $290 billion, down from $314 billion in 2019-20.

Need of the hour is to reduce logistics cost: Piyush Goyal

Piyush Goyal also said the investments in the Sagarmala project will boost the country's maritime infrastructure, expand freight corridors, make freight more cost-effective and bring down the current logistics cost, which is estimated to be about 13-14 percent.

Eight core industries' output up 0.1% in January

The core sectors had expanded by 2.2 percent in January 2020, according to the provisional data released by the Commerce and Industry Ministry on Friday.

National Education Policy to make India knowledge capital of world: Piyush Goyal

Piyush Goyal added that the Indian education system has to attain that level wherein students from even the developed nations would come for higher studies, even in institutes other than IITs and IIMs.

Govt collects Rs 1,492 crore equalisation levy between April 2020 - January 2021

In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Hardeep Singh Puri said the equalisation levy collection stood at Rs 338.6 crore in 2016-17, Rs 589.4 crore in 2017-18 and Rs 938.9 crore in 2018-19.

India exported COVID-19 vaccines worth about Rs 338 crore so far: Piyush Goyal

The exports include grant of the vaccine doses to friendly countries and commercial shipments.

DPIIT to organise global summit on startups on January 15-16

Startups from Asian countries, domestic players and global entrepreneurs would participate in the virtual summit, the official in the Department for Promotion of Industry and Internal Trade (DPIIT) said.

FDI into India continuously growing: Piyush Goyal

For certain sectors such as telecom, media, pharmaceuticals and insurance, government approval is required for foreign investors. There are nine sectors where FDI is prohibited and that are lottery business, gambling and betting, chit funds, Nidhi company, real estate business, and manufacturing of cigars, cheroots, cigarillos and cigarettes using tobacco.

Govt may unveil steps to give further leg-up to ethanol production

According to sources who attended the meeting said that the minister was "very keen" to boost ethanol production at a faster pace in the country.

India's exports dip 5.4% in October, trade deficit narrows to $8.78 billion

During April-October 2020, exports declined 19.05 percent to $150.07 billion, while imports fell 36.28 percent over the same period last year to $182.29 billion.