Piyush Goyal remains optimistic about $2 trillion export target

Piyush Goyal has claimed that the country will meet its ambitious $2 trillion export target by 2030, notwithstanding geopolitical headwinds and inflationary concerns. India currently exports around Rs 1,500 crore worth of jute. Goyal, who also holds the portfolios of textiles and consumer affairs, food and public distribution, urged industry players to increase the figure.

“With increasingly stringent regulations focusing on safety, emissions, and technological advancements, car manufacturers are investing in research, development, and innovation,” said Piyush Arora, managing director and CEO of Škoda Auto Volkswagen India. VW exported 40,920 passenger vehicles in 2023, registering a growth of 29%, while Skoda’s exports soared 431% to 1,530 units.

Citing a 50-70% drop in capacity utilization 50% to 70%, the Confederation of Indian Textile Industry (CITI) sought extension of the one-year moratorium for repayment of the principal amount, and conversion of three-year loans under Emergency Credit Line Guarantee Scheme (ECLGS) into six-year term loans.

US Trade Representative Katherine Tai will visit India from January 12-14 to participate in the 14th ministerial-level meeting of the India-US Trade Policy Forum. Tai will co-chair the forum with commerce and industry minister Piyush Goyal. The forum aims to discuss issues enhancing trade resilience, including agriculture, industrial products, services, and intellectual property protection.

Commerce secretary Sunil Barthwal met shipping companies and exporters on Thursday to take stock of the situation as shipping giant Maersk decided to suspend all transits through the Red Sea/Gulf of Aden until further notice due to fresh attacks by Yemen-based Houthi rebels.

The Appointments Committee of the Cabinet (ACC) on Friday approved the appointment of Pandian, a 2002 IAS officer of the Uttar Pradesh cadre, for three years from the date of assumption of charge. Pandian is currently posted as commissioner, excise in Uttar Pradesh. His appointment comes at a time when the world is witnessing inflation, […]

India’s Commerce Secretary, Sunil Barthwal, has said that countries negotiating free trade agreements (FTAs) with India are looking to gain a greater share in the country’s rapidly growing automobile sector. The industry has strengthened in various areas, including auto-grade steel, components, and tires, and is now shifting from conventional internal combustion engines to electric vehicle […]

As sugar prices started to rise due to estimates of lower production of sugarcane in Maharashtra and Karnataka, the Centre capped diversion of sugarcane juice for ethanol at 1.7 million tonnes in the ethanol supply year of November-October 2024. Sugar production till end of December in the current sugar season (2023-24) reached 11.18 million tonnes […]

Government will soon issue 65 quality control orders (QCOs) which will cover over 500 products to contain imports of sub-standard goods and boost domestic manufacturing. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. Violation of the law can attract a penalty […]

Goyal said massive investments are being made to create a world-class infrastructure, including the 20-acre India Jewellery Park in Navi Mumbai and a common facility centre in SEEPZ Mumbai with modern machinery and equipment. The infrastructure impetus can empower micro, small and medium enterprises in the gems and jewellery industry to build global competitiveness and […]