Piyus Goyal

The country's goods exports touched USD 447 billion till the last count for 2022-23 fiscal year as against USD 422 billion in 2021-22, Commerce and Industry Minister Piyush Goyal said on Tuesday. The final export and import data for 2022-23 would be released by the mid of April. At present, the ministry is in the process of collating the data. The trade data for goods comes with a lag of about 15 days and in the case of services data, it is 45 days. Goyal said that services exports are estimated to cross USD 320 billion in 2022-23. Growth in merchandise goods would be around 6 per cent for the last fiscal, he said, adding that it has grown from "USD 422 billion to USD 447 billion at last count (as the) final numbers are still awaited". He said the country's exports are growing despite global challenges such as rise in raw material prices, restrictions in exports of certain products like wheat and Russia-Ukraine war. "The final numbers (exports of goods and services will be closer

The PM Gati Shakti initiative would help accelerate transportation, cut logistics cost, and bring synergy among ministries, Commerce and Industry Minister Piyush Goyal said on Friday. The PM GatiShakti - National Master Plan (NMP) was announced last year with an aim to break departmental silos and bring in more holistic and integrated planning and execution of projects with a view to addressing the issues related to multi-modal and last-mile connectivity. It aims at promoting integrated planning and synchronised implementation of infrastructure projects across the country. Goyal said the objective is to transform connectivity infrastructure in India. It would bring synergy among the ongoing infrastructure projects undertaken by different ministries and several ministries of the government have been brought on one platform under this mission, he said at an event in Varanasi. "This program will result in seamless connectivity across the country, benefitting the industry, trade as wel

Minister Goyal is expected to hold bilateral meetings with counterparts from member countries

India's goods and services exports crossed $675 billion in the last financial year and the government has set a target of achieving $750 billion for 2022-23

The Department of Commerce is being restructured to make it 'future ready' and put in place an ecosystem to achieve the USD 2 trillion export target by 2030, Union Minister Piyush Goyal said on Tuesday. Talking to reporters here, the commerce and industry minister said that as part of the restructuring exercise, a dedicated trade promotion body would be set up to devise an overall strategy to achieve targets. The focus of restructuring, he said, will also be on strengthening negotiations capability at the World Trade Organisation (WTO) and for bilateral free trade agreements; centralisation and digitisation of trade facilitation processes and rehauling the data analytics ecosystem. The objective is to increase India's share in global exports and also to create jobs, he noted. Goyal also said that there will be no reduction of manpower in the Commerce Ministry on account of restructuring, but may go up. "Indian trade and commerce will not only be a strong element in India's march t

'The country, which is now a USD 3 trillion economy, has announced a stable policy framework and respected every investment made across sectors'

Goyal said that the decisions taken in the conference will further strengthen the role of the multi-lateral body in promoting global trade

Textiles Secretary Upendra Prasad Singh said the country's apparel industry must focus on vertical integration to increase its scale and size to benefit from the production-linked incentive scheme

The assurance from the Union textiles minister came at a time when the Indian Jute Mills Association (IJMA) has initiated legal steps against the government

"The developed world must give the developing world the policy space to develop their economies and meet the needs of billions of people in this interconnected world," he said

Govt negotiating FTAs with various countries and blocs including the UK, UAE, Oman, Australia, Canada, EU, Russia and Southern African Customs Union, says Commerce Minister

Despite COVID-19 disruptions, there are clear indications of economic revival in India said Union Minister Piyush Goyal on Saturday.

A sharp rise in exports in April is giving a hope that the ambitious target of $400 bn merchandise shipments can be achieved this year, says Commerce and Industry Minister Piyush Goyal

Goyal, who is standing in for Jaitley, promised all Central support to the banks in a meeting with 11 govt-owned lenders