Piyush Goyal is a senior Bharatiya Janata Party (BJP) leader and the Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles in the Narendra Modi-led BJP government at the Centre. A Leader of the Rajya Sabha, he has been representing Maharashtra in the Rajya Sabha since 2010. He earlier served as Minister of Railways between 2017 and 2021. In the previous term of the BJP government, Goyal had also donned the hat of the finance minister twice in 2018 and 2019, standing in for then Finance Minister Arun Jaitley during phases of the latter’s ailment. Goyal presented the Interim Budget for 2019-20, ahead of the Lok Sabha elections. During his 35-year long political career, he held several other portfolios -- Minister of Coal (2014-19), Minister of State (I/C) for Power, New and Renewable Energy (2014-17), and Mines (2016-17). He has been the National Treasurer of the BJP. Goyal was an all-India second rank holder Chartered Accountant (CA) and second rank holder in Law in Mumbai University. Before joining politics, he worked as an investment banker and advised top corporates on management strategy and growth. He also served on the board of India’s largest commercial bank, the State Bank of India and Bank of Baroda as Government nominee. More
Goyal also pointed out that rating agencies often exaggerate minor disruptions or policy changes, creating unnecessary panic, adding that several strong and fundamentally sound companies end up suffering due to such reactions, which fail to take into account India’s broader economic context.
During the meeting, the Ministers reviewed the progress made under the CECA negotiations and discussed pathways to elevate bilateral trade and economic partnerships.
Talks are going on very well. There are many sensitive issues, many serious issues, so naturally, it takes some time,” Minister Piyush Goyal
Commerce and Industry Minister Piyush Goyal said that more than 50 percent of the chapters of the free trade agreement (FTA) between India and the European Union (EU) were agreed upon by both sides. Besides, Goyal and his team will head to Queenstown for the fourth round of India-New Zealand trade talks.
Trade talks with the United States, which has imposed 50% tariffs on Indian exports, and several other countries are underway
Last month, Piyush Goyal also led an official delegation to New York for trade talks.
At the conference, the FM said that the government is witnessing clear signs of improving consumption trends following the rollout of GST 2.0. She added that the Centre is monitoring the prices of 54 items to assess the extent of pass through of prices. These, however, don’t include insurance items.
Goyal said the goal of becoming a developed nation by 2047 is “only a medium-term target” and not a goal in itself
Goyal reiterated India’s strategic approach of integrating with global economies while ensuring that domestic industries remain competitive.
Speaking to business delegates in Mumbai, British PM Keir Starmer said he wants the India-UK free trade agreement (FTA) implemented “as soon as humanly possible."
Piyush Goyal, Peter Kyle reaffirmed their shared ambition to double bilateral trade by 2030, leveraging the complementarities between the two economies in areas such as advanced manufacturing, digital trade, clean energy, and services.
The minister said that Indian businesses should seriously consider such guaranteed financing for partnering with Qataris, business persons in third countries.
Goyal said that every possibility exists, but with the US government currently in shutdown mode, it remains to be seen how, where, and when the next round of talks can take place.
India is exploring an FTA with Qatar to secure alternative export markets and cushion its exporters from rising tariff pressures in the US.
While the EU is seeking greater market access in automobiles and agriculture products, India wants relaxations in the carbon tax on imports of steel, aluminium, cement and fertiliser which kicks in from January
Goyal-led trade delegation was on a visit to the US from September 22-24
Signs of easing tensions have emerged, with both New Delhi and Washington reaffirming their ‘natural partnership’ and commitment to continued trade and energy collaboration
Commerce minister Piyush Goyal is visiting US to meet his counterparts after President Donald Trump imposed 50% tariffs on Indian exports last month
The exercise will help assess existing logistics infrastructure, identify gaps, and provide a roadmap for improving efficiency and reducing costs, the Commerce and Industry Ministry said.
The delegation plans to take forward discussions with a view to achieve early conclusion of a mutually beneficial trade agreement, it said.
Oman is India’s third-largest export destination within the GCC. India already has a trade deal with another GCC member - the United Arab Emirates (UAE).
India and the UAE are also aiming to double the bilateral trade in non-oil, non-precious metal categories to $100 billion over the next 3-4 years.
India and the European Union are maximising efforts to finalise the proposed trade deal by 2025-end, said Maroš Šefčovič, EU's Commissioner for Trade and Economic Security.
The new GST rates on vehicles will become effective from September 22, the first day of the nine-day Navaratri festival.
The minister said India wants to work with countries where both parties can have 'a win-win deal' and not a one-sided agreement