Commerce Ministry

Platforms like Blinkit, Swiggy’s Instamart, and Zepto have also been asked by the government to showcase savings made on account of the GST rate cuts, sources said, adding that this strategy is key to ensuring that tax reductions are leading to lower retail prices on a daily basis.

Piyush Goyal urges industry to pass on 'entire benefit' of GST cut to consumers

Goyal said that India can weather any challenges as it has done in the past. He also cited the country's contribution during the pandemic when medicines and vaccines were supplied to over 100 nations either free of cost or at nominal prices without making profits.

India to fast-track FTAs with EU, Oman, New Zealand to diversify exports, says commerce ministry

The ministry also plans to speed up the implementation of the Export Promotion Mission that was announced in the budget for FY26.

India’s goods trade deficit widens to $27 billion in July

On a year-on-year basis too, the merchandise deficit recorded last month was larger compared to $23.5 billion in July 2024

Iran-Israel conflict: India asks shipping firms to keep a lookout for alternate routes

According to sources, specifically, Indian exports to Europe, US and to a certain extent to South America may get impacted if the flow of goods through the Strait of Hormuz is disrupted or if Iran implements its repeated threat of closing the route.

'B team of China': Piyush Goyal calls trade deal with ASEAN a 'silly' move

Criticising the previous government's move to sign a trade deal with ASEAN, commerce minister Piyush Goyal said that the current regime was therefore focussing on brokering pacts with developed economies who complement rather than compete with India.

Goyal, Lutnick hold talks to expedite India-US trade deal

India and the US are currently discussing the contours of the trade pact as part of Mission 500, a broader initiative aiming to more than double bilateral trade to $500 billion by 2030.

Sensitive sectors, stronger stance: India may stick to red lines in high-stakes US trade talks

India has so far offered zero-to-zero tariffs for industrial goods, while the rates on other items are still being negotiated given the government’s intent to protect sensitive sectors like dairy. Commerce Minister Piyush Goyal along with a team will be in US from May 17 for talks over the trade deal.

India-UK FTA: Piyush Goyal may meet exporters on May 8 to share pact details

Exporters are likely to seek clarity on the tariff cuts offered by India, especially on automobiles and inclusion of electric vehicles

India's trade deals with UK, EU in spotlight as Goyal embarks on key visit

Currently in London for two days, Goyal, in his first engagement, held a meeting with the UK Secretary of State for Business and Trade Jonathan Reynolds to advance FTA negotiations

India’s trade deficit widens to $21.54 billion in March

On a year-on-year basis, the trade gap in goods in the previous month was wider as well compared to $15.34 in March 2024.

US trade report flags lack of consultation before India’s initial laptop import curb plan

In August 2023, India had announced restrictions on free import of laptops, tablets, personal computers, and related items, but the plan was rolled back and replaced by an 'import management system', requiring companies to report data related to their imports.

Trump tariffs: India engaging with stakeholders to identify areas of gains, challenges

On the proposed trade agreement between India and US, Commerce Secretary said that all measures to raise trade between India and US to $500 billion by 2030 will be discussed while the proposed Bilateral Trade Agreement (BTA) between the two is expected be multisectoral.

Industry tag concept is outdated: Piyush Goyal on AI getting industry status

Goyal compared the bureaucracy and stringent regulations that comes with being accorded the status of an industry with the rapid growth seen in the IT sector as they ignored the structural norms to resolve their issues on their own.

Govt working on export strategy to limit fallout of protectionism, says MoS Commerce Jitin Prasada

The government is also navigating FTAs (foreign trade agreements) on an equal footing to keeping in mind the best interests of Indian exporters, according to the Union Minister of State of Commerce & Industry

Piyush Goyal backs India-Qatar trade beyond energy into AI and semiconductors

Piyush Goyal added that the India-Qatar future partnership will rest on the pillars of sustainability, technology and entrepreneurship, and energy. Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar's Minister of Commerce and Industry was also present at the Forum.

Piyush Goyal's Muscat visit from 27-28 Jan to spur India-Oman FTA talks

This visit underscores the importance that India attaches to its trade and investment ties with Oman, an important commercial partner in the Gulf Cooperation Council (GCC) with bilateral trade estimated at over $8.94 billion in 2023-2024, India's commerce ministry said in a statement on January 26.

Budget 2025: Commerce Ministry seeks more steps to boost e-commerce export hubs

The initiatives sought include an effective return policy for goods as well as easier financing for e-commerce exporters. The first e-commerce export hub in the country is expected to start functioning from March this year.

Second round of checks underway to plug any gaps in petroleum, electronics trade data: Govt source

This scrutiny, being jointly conducted by the Directorate General of Commercial Intelligence and Statistics (DGCIS) and the Central Board of Indirect Taxes and Customs (CBIC), is likely to conclude within a month, said an official on the condition of anonymity.

India's goods trade deficit narrows to 3-month low of $21.94 bn in December

However, the trade deficit in goods was wider on-year for December 2024 versus $18.76 billion during the same month last fiscal.

Double whammy: Hotel federation FHRAI goes after Swiggy, Zomato as NRAI flags private label concerns on quick commerce

The restaurant body has alleged that food aggregator platforms are leveraging their dominant positions and access to restaurant data to promote their own private labels, namely Blinkit’s Bistro and Swiggy’s Snacc.

Many Indian start-ups returning home buoyed by angel tax removal, says DPIIT Secy

In the Budget for FY25, Finance Minister Nirmala Sitharaman announced the decision to abolish angel tax for all classes of investors

India's April-November gold import data revised downwards by $11.7 billion

The government has revised its gold import estimate to $37.38 billion from $49.06 billion, trade statistics department data showed.

Govt must explain huge revision in November gold import data, says GTRI

The government must proactively review trade data to ensure that this is an isolated case and not indicative of a broader data accuracy problem, GTRI's founder Srivastava said.

Why India needs more FTAs in an era of disruptions and rising protectionism

India sealed only one trade agreement with the European Free Trade Association (EFTA) in 2024, but a bunch of these agreements are in the pipeline. Experts say bilateral pacts could help merchandise exports that has been lagging compared to services.