




India is pushing for sustained preference over competing countries in labour-intensive areas such as textiles and leather.
The government has committed around Rs 1.97 lakh crore for various PLI schemes for a period of five years starting 2021-22 to help bring scale and size in key sectors.
Commerce and Industry Minister said that during the meeting with Oliver Prill they discussed fintech ecosystem, digital empowerment, and fostering SME-led growth between India and UK.
Speaking in London, the Union Minister called for ethical regulation of AI amid deepfake threats, while backing India’s full-scale adoption of the technology.
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.
The minister wrote: "Had a highly productive meeting with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, and Hakan Jevrell, State Secretary for Foreign Trade, Sweden, today."
Piyush Goyal said, "It has been confirmed that approximately 40,000 square meters can be made available… They will shift the green zone to another location.”
Goyal said that the proposed bilateral trade agreement between India and the United States presents a valuable opportunity for both nations to enhance and deepen their economic partnership.
Drawing a parallel with India’s agreement with Australia, Goyal noted that both nations had initially implemented an interim deal, which later expanded into a more comprehensive pact.
According to Goyal, the Indian embassy is already in discussions with Chinese authorities on the matter, and the commerce ministry is engaged as well.
Prime Minister Narendra Modi also met the UK Foreign Secretary a day earlier and acknowledged his “substantive contribution” to strengthening the bilateral relationship.
These issues were discussed during the meetings between Commerce and Industry Minister Piyush Goyal and Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Antonio Tajani
Commerce and Industry Minister Piyush Goyal said that India is taking steps such as giving encouragement to startups to do R&D for innovations and to find alternate and smarter solutions.
India would invite Italian companies to certain locations in India such as Dighi near Mumbai and Sambhaji Nagar (Aurangabad) in Maharashtra to showcase potential locations for these enclaves.
India is likely to allow increased imports of energy products, edible oils, automobiles, and defence equipment, among others, in order to slash the looming Trump tariffs.
Meanwhile, India has sought consultations with the United States (US) at the World Trade Organisation (WTO) on tariff increase of 25 per cent on imports of passenger vehicles (PVs) and light trucks, and on certain automobile parts.
"Both countries are committed to work together, both countries desire to give preferential access to each other's businesses and we are working towards the bilateral trade agreement," Goyal told reporters
The talks for the agreement, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023.
Goyal also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks