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Commerce Minister Piyush Goyal highlighted that India and France's bilateral trade, valued at $15 billion in FY24, remains at a "suboptimal level." He emphasized the need for enhanced collaboration through bilateral agreements and multilateral platforms to boost trade and address challenges like climate change.
Commerce Minister Piyush Goyal has called on the real estate sector, particularly CREDAI, to discourage cash transactions and promote digital payments to enhance formalisation and growth. Speaking at CREDAI's 25th Foundation Day, he emphasized the importance of enrolling employees under EPFO to accelerate the sector's contribution to India's GDP.
The Union government plans to introduce a legal framework to ensure data privacy, promoting free data flow among trusted partners, according to Commerce and Industry Minister Piyush Goyal. Speaking at the UK India Business Council's conference, he highlighted opportunities for collaboration in technology sectors such as AI, telemedicine, and precision agriculture. Goyal also emphasized India's efforts to reskill workers to address potential employment disruptions caused by new technologies.
India"s trade ministry is exploring technology transfers and tariff reductions to attract global players, inspired by the success of Apple and Hyundai in the country. The focus is on enhancing local manufacturing in sectors like capital goods, chemicals, and leather, aiming to integrate domestic companies into global value chains. Initial discussions also highlight food processing, textiles, and the ongoing growth in electronics and automobiles.
Union Minister of Commerce and Industry Piyush Goyal emphasized India"s pursuit of equity and fair trade in Free Trade Agreement (FTA) negotiations, highlighting past attempts to join the RCEP as unfavorable, viewing it as essentially an FTA with China. His remarks followed Niti Aayog CEO BVR Subrahmanyam"s call for India to reconsider joining RCEP and the CPTPP, noting India"s absence from major trade agreements.
Commerce and Industry Minister Piyush Goyal emphasized the need for e-commerce companies to adhere to foreign direct investment (FDI) laws, urging compliance in both letter and spirit. His remarks, made during an event in Mumbai, addressed concerns over the impact of quick commerce platforms on traditional kirana stores, following accusations from the Confederation of All India Traders against companies like Blinkit, Instamart, and Zepto.
India"s interest rates are currently the highest among major economies, prompting Finance Minister Nirmala Sitharaman to express concerns over high borrowing costs. Union minister Piyush Goyal has called for a reassessment of monetary policy, particularly regarding its connection to volatile food prices, advocating for a reduction in interest rates amid rising retail inflation and slowing economic activity.
Commerce and Industry Minister Piyush Goyal urged auto firms to focus on competitive pricing to revive the domestic passenger vehicle market, which saw only a slight increase in sales from April to September 2024. Despite expectations of a boost during the festive season, the Society of Indian Automobile Manufacturers has revised its growth forecast for FY25 to 3-5 percent, with Maruti Suzuki's Chairman predicting continued muted growth.
Congress leader Jairam Ramesh criticized the central government following Union commerce minister Piyush Goyal's remarks at the CNBC-TV18 Global Leadership Summit, where he claimed it was flawed to consider food inflation when deciding on interest rate cuts. Ramesh accused the government of manipulating data to fit its agenda. Meanwhile, RBI Governor Shaktikanta Das refrained from commenting on Goyal's suggestion, stating that the rate-setting panel would make an appropriate decision in December.
Union Minister Piyush Goyal urged automakers to adopt competitive pricing to address declining car sales, highlighting the high profit margins in the industry. He referenced the recent IPO of Hyundai Motor India, which raised Rs 27,870 crore, emphasizing the substantial returns from long-term investments in the Indian market.
Piyush Goyal
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India France trade needs improvement for stronger economic collaboration says Goyal
12:56 27.11.2024
Piyush Goyal urges real estate sector to adopt digital payments and formalisation
12:33 25.11.2024
India to introduce legal framework for data privacy and innovation investment
17:49 21.11.2024
India seeks tech transfers and tariff reforms to boost global manufacturing
10:50 20.11.2024
India seeks fair trade in FTA negotiations amid RCEP discussions
14:00 19.11.2024
Piyush Goyal urges e-commerce firms to comply with FDI regulations
12:24 19.11.2024
debate intensifies over high interest rates and economic challenges in india
10:55 19.11.2024
auto firms urged to focus on volume amid stagnant market growth
14:08 15.11.2024
Congress criticizes government over Goyal's comments on interest rates and inflation
15:28 14.11.2024
Piyush Goyal urges automakers to reduce prices amid sales slowdown
15:07 14.11.2024
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