Piyush Goyal

While a government source said that the issue is still in its early stages, taking any action at this time would be premature, as the industry is still embryonic. According to industry stakeholders, kiranas do not need protection, and there is a need for reskilling as technology advances.

The comments are of particular importance because companies like Blinkit, Swiggy Instamart and Zepto have all unanimously denied they are growing at the cost of kiranas.

The latest take is a significantly toned-down version from his August 21-speech wherein he said that the exponential growth of e-commerce in India is a matter of concern rather than pride given its impact on brick-and-mortar stores operating in the country.

"Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said.

Goyal called for doubling trade between India and Africa to $200 billion from $100 billion in the next seven years to target a growth rate of 10 percent per year.

Strap: CAIT’s Secretary General Praveen Khandelwal calls for greater scrutiny on foreign investments to ensure they contribute positively to the local economy and not merely serve to sustain unprofitable operations

Goyal also remarked that Amazon incurred huge losses because it follows predatory pricing.

Goyal was speaking in context of the growth figures in a report on the net impact of e commerce on employment and consumer welfare in India

The licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds.

During the meeting with YouTube CEO, Goyal said they discussed the content sharing platform’s potential to enhance its India presence through various initiatives

Goyal reaffirmed the government's commitment to fostering a business-friendly atmosphere and emphasised the need to align policies with industry requirements.

The leather and footwear industry should take advantage of various free trade agreements (FTAs) signed by India and focus on manufacturing world class products to tap global markets, the Trade Minister added

On the topic of the role of industry in India's growth story, Goyal said that Prime Minister Narendra Modi in his post-Budget speech on July 30 has made it clear that he wants private sector to invest boldly

Goyal had a word of advice for investors, 'Stock market se ishq kariye but long-term ishq kariye, not short- term (Love stock markets but please do it for long term, not short term)'

In a written reply to a question, Goyal said that an actual investment of Rs 1.23 lakh crore has been realised till March 2024 across 14 sectors, which has resulted in incremental production/ sales of over Rs 10.31 lakh crore and employment generation of around 8 lakh.

Piyush Goyal further pointed out the low levels of participation from the industry to help improve policies around Ease of Doing Business (EODB) and National Single-window System (NSWS). The minister also asked industry to step up on ideas to help reduce the compliance burden of businesses.

While talks with EU have entered the eighth round, which was held on June 24-28 in Brussels, with UK, 13 rounds have been concluded

The Economic Survey for 2023-24 pitched for more FDI from China in a bid to lower India's import dependency on Beijing.

, Piyush Goyal

The key objective of Goyal's visit to Switzerland, which commenced July 14, was to discuss the next steps for the implementation of the Economic Partnership Agreement (TEPA), signed between India and EFTA nations.