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Goyal, EFTA Delegation Review Progress in Trade Talks

Piyush Goyal concluded a “highly successful” meeting with a delegation from the EFTA, led by the Swiss State Secretary for Economic Affairs, Helene Budliger Artieda…reports Asian Lite News

Union Commerce and Industry Minister Piyush Goyal held a meeting with the European Free Trade Association (EFTA) delegation led by Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, and Norwegian Minister of Trade and Industry, Jan Christian Vestre, on Wednesday.

“Held a meeting with the European Free Trade Association (EFTA) delegation, led by Ms. Helene Budliger Artieda, Swiss State Secretary for Economic Affairs and Mr. Jan Christian Vestre, Norwegian Minister of Trade and Industry,” the union minister said in a post on ‘X’.

During the meeting, Goyal discussed the progress of Free Trade Agreement (FTA) negotiations with EFTA nations and explored avenues to further strengthen partnerships across key sectors.

Recently, Piyush Goyal concluded a “highly successful” meeting with a delegation from the EFTA, led by the Swiss State Secretary for Economic Affairs, Helene Budliger Artieda.

The meeting took place in London from July 11 to July 12. Helene Budliger Artieda was also accompanied by industry stakeholders from the pharmaceutical, machinery and electronics industries of the EFTA states.

The deliberations between Minister Piyush Goyal and State Secretary Helene Budliger Artieda “were fruitful and detailed discussions on crucial issues, with the shared goal of swiftly concluding” the Trade and Economic Partnership Agreement (TEPA) negotiations, the commerce ministry said in a release.

The primary objective of these negotiations is to establish a “fair, mutually beneficial, and comprehensive” trade deal between India and EFTA.

Over the past few months, India and EFTA have significantly intensified their engagement, highlighting the commitment of both parties to achieving an early conclusion to the TEPA negotiations.

The commerce ministry’s release added that the meeting in London further bolstered this commitment, with both sides demonstrating a strong willingness to progress towards a final agreement.

Minister Piyush Goyal expressed his satisfaction with the progress made during the meeting, highlighting the constructive and collaborative nature of the discussions. He emphasised the importance of a comprehensive trade deal that addresses the needs and aspirations of both India and EFTA. (ANI)

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Goyal visits Tesla’s manufacturing facility in California

He also met US Trade Representative Ambassador Katherine Tai on the sidelines of the Indo-Pacific Economic Framework (IPEF) in San Francisco. The two leaders held talks on the IPEF and trade pillars…reports Asian Lite News

Union Minister for Commerce and Industry Piyush Goyal on Monday (local time) visited Tesla’s manufacturing facility in California’s Fremont and said that the US electric car maker is on its way to double its components imports from India.

Goyal stressed that he is proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain.

He said that he missed meeting Tesla CEO Elon Musk and wished him a speedy recovery. He said that he is “delighted” to see Indian engineers and finance professionals working in senior positions and contributing to Tesla’s journey to transform mobility.

Taking to social media app X, Goyal stated, “Visited @Tesla ‘s state of the art manufacturing facility at Fremont, California. Extremely delighted to see talented Indian engineers & finance professionals working at Senior positions and contributing to Tesla’s remarkable journey to transform mobility. Also proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Mr @ElonMusk’s magnetic presence and I wish him a speedy recovery.”

Goyal, who is on a visit to the United States from November 13 to 16, arrived in San Francisco Monday morning (local time), will participate in the third in-person Indo-Pacific Economic Framework (IPEF) Ministerial meeting from November 13-14, 2023. During his visit, he will also attend the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco.

Just shortly upon arrival in the US, Goyal met with Singapore’s Minister for Trade and Industry Gan Kim Yong. The two leaders discussed ways to accelerate cooperation across sectors to further deepen economic partnership between India and Singapore.

Taking to X, Goyal stated, “Met H.E. Gan Kim Yong, Minister of Trade & Industry, Singapore, and discussed ways to accelerate cooperation across sectors to further deepen our economic partnership.”

He also met US Trade Representative Ambassador Katherine Tai on the sidelines of the Indo-Pacific Economic Framework (IPEF) in San Francisco. The two leaders held talks on the IPEF and trade pillars.

Goyal is scheduled to hold a bilateral meeting with US Commerce Secretary Gina Raimondo and representatives from various sectors and industries, according to the Ministry of Commerce and Industry earlier press release. These meetings will focus on addressing trade barriers, promoting investments, and fostering greater cooperation in areas such as technology and innovation.

One of the key focus of the visit will be the joint event, co-chaired with US Commerce Secretary, Gina Raimondo on “India-USA Innovation Handshake Initiative”, with the aim to lift up and connect the two sides’ dynamic startup ecosystems, address specific regulatory hurdles to cooperation, and promote further innovation and job growth, particularly in emerging technologies.”

During his visit to the US, Goyal will also participate in the investors’ roundtable along with one-to-one meetings with CEOs, according to the press release. He will also interact with various stakeholders such as students, entrepreneurs, venture capitalists and the Indian diaspora.

Piyush Goyal is expected to interact with globally renowned technology, entrepreneurship, and academic communities in the Bay Area, particularly, in Silicon Valley to undertake focused discussions with American companies looking to invest or expand in India across sectors – Electronics (including semiconductors), Technology, FinTech etc. (ANI)

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Goyal to chair trade ministers’ meet on Aug 24

Trade ministers from the US, the UK, China, Canada, Indonesia, Japan, EU, Republic of Korea, Turkiye, Saudi Arabia, France, Bangladesh, Egypt, Netherlands, Oman, Singapore and UAE will be attending the G20 meeting…reports Asian Lite News

Over 300 delegates are set to gather in Rajasthan’s Jaipur for the meeting of trade and investment ministers from G20 countries on August 24-25.

Apart from trade ministers, heads of international organisations like the World Trade Organisation and officials of invitee countries will also attend the meeting to be chaired by Commerce and Industry Minister Piyush Goyal.

Trade ministers from the US, the UK, China, Canada, Indonesia, Japan, EU, Republic of Korea, Turkiye, Saudi Arabia, France, Bangladesh, Egypt, Netherlands, Oman, Singapore and UAE will be attending the G20 meeting.

Commerce Secretary Sunil Barthwal also told reporters that during this 2-day meeting sessions on Multilateral Trade for Global Growth and Prosperity, Inclusive amd Resilient Trade, and Leveraging Technology for Paperless Trade will be held. At the end of the meeting, there will be the adoption of the G20 Trade and Investment Ministerial statement.

The working group meeting, under India’s G20 presidency, comes just three weeks ahead of the main summit, which will be held in New Delhi on September 9-10.

Goyal will hold bilateral free trade talks with his counterparts of the United Kingdom, the European Union and Canada and discuss bilateral trade issues with the Russian delegation on the sidelines.

ALSO READ-Goyal holds talks with European FTA in London

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Goyal holds talks with European FTA in London

The primary objective of these negotiations is to establish a “fair, mutually beneficial, and comprehensive” trade deal between India and EFTA…reports Asian Lite News

Union Minister of Commerce and Industry Piyush Goyal concluded a “highly successful” meeting with a delegation from the European Free Trade Association (EFTA), led by the Swiss State Secretary for Economic Affairs, Helene Budliger Artieda.

The meeting took place in London from July 11 to July 12, a press release from the Ministry of Commerce said Wednesday. Helene Budliger Artieda was also accompanied by the industry stakeholders from the Pharmaceutical, Machinery and Electronics of EFTA states. The deliberations between Minister Piyush Goyal and State Secretary Helene Budliger Artieda “were fruitful and detailed discussions on crucial issues, with the shared goal of swiftly concluding” the Trade and Economic Partnership Agreement (TEPA) negotiations, the release said.

The primary objective of these negotiations is to establish a “fair, mutually beneficial, and comprehensive” trade deal between India and EFTA.

Over the past few months, India and EFTA have significantly intensified their engagement, highlighting the commitment of both parties to achieving an early conclusion to the TEPA negotiations.

The commerce ministry release added the meeting in London further bolstered this commitment, with both sides demonstrating a strong willingness to progress towards a final agreement.

Minister Piyush Goyal expressed his satisfaction with the progress made during the meeting, highlighting the constructive and collaborative nature of the discussions. He emphasized the importance of a comprehensive trade deal that addresses the needs and aspirations of both India and EFTA.

State Secretary Helene Budliger Artieda echoed Minister Goyal’s sentiments and commended the Indian government’s proactive approach and expressed confidence in the positive outcomes that can be realized through a comprehensive TEPA.

“The successful meeting in London added further momentum to the ongoing negotiations between India and EFTA. Both sides have reaffirmed their commitment to expedite the conclusion of the TEPA, recognizing the potential for enhanced economic cooperation and trade between the two regions. The successful conclusion of the TEPA will set the stage for a new deeper economic collaboration, driving growth and prosperity for both India and EFTA.” (ANI)

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India pioneering sustainable textiles to cut emissions: Goyal

Goyal called for the world’s largest Garment fair to be organized in the National Capital Region to strengthen the trade fair ecosystem…reports Asian Lite News

Union Minister of Textiles, Commerce and Industry and Consumer Affairs, Food and Public Distribution, Piyush Goyal said that India is pioneering sustainable textiles contributing to a lesser carbon footprint and promoting a circular economy.

The Minister said that the Indian textile industry has made a mark in the world with its innovative and attractive products during his address at the inaugural function of the 69th India International Garment Fair (IIGF) at Greater Noida, Uttar Pradesh today. The Minister highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states of the country with the objective of promoting India’s textile sector in a significant manner.

Goyal said that PM MITRA Parks will lead to a reduction of logistic costs due to a cluster-based approach to manufacturing and production of quality products with appropriate testing facilities. He also said that the locational advantages of the PM MITRA Parks will help the units in these Parks to cater well to domestic demand as well as exports.

Goyal added, “Our countrymen deserve the best quality of garments and this should be ensured by all the stakeholders.”

He encouraged the industry to focus on quality and test their products to comply with quality standards. The Minister also motivated the youth to innovate and develop new technologies to facilitate the production of better-quality products. He said that the IIGF must focus on enhancing quality and professionalism in the textile sector.

Minister Goyal said, “India is actively considering the possibility of Comprehensive Economic Partnership Agreements (CEPAs) and Free Trade Agreements (FTAs) with various countries. These agreements aim to enhance the market size and facilitate exporters in the thriving Indian textile sector. By entering into these agreements, India aims to tap into new markets, increase exports, and create opportunities for growth in the textile industry”.

Goyal applauded the contribution of the Apparel Export Promotion Council (AEPC) for organizing the India International Garment Fair and providing an opportunity for enhanced collaboration of the Indian textile industry with the world. The Minister noted the significant role played by AEPC in serving the textile sector providing livelihood opportunities to crores of people, encouraging new startups and supporting micro and small units in the textile sector.

Goyal called for the world’s largest Garment fair to be organized in the National Capital Region to strengthen the trade fair ecosystem and engage industry, entrepreneurs, and other stakeholders. Member of Parliament, Gautam Buddha Nagar, Mahesh Sharma, Chairman, AEPC, Narendra Goenka, senior officials and other dignitaries from India and abroad also graced the occasion. (ANI)

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Digital transformation key in India-EU trade ties: Goyal

The Stakeholders Event, attended by 18 stakeholders from various business sectors in India and the EU, provided a platform for fruitful discussions and the exchange of views and suggestions…reports Asian Lite News

Union Minister for Commerce and Industry Piyush Goyal has highlighted the importance of digital transformation and talent reskilling in bolstering the trade and technology partnership between India and the European Union (EU).

Goyal made the observation during the stakeholder event for Working Groups 1 and 2, which was held as part of the first ministerial meeting of the India-EU Trade and Technology Council (TTC) in Brussels, Belgium on May 16, 2023.

He co-chaired the event along with External Affairs Minister S Jaishankar, Minister of External Affairs (EAM), and Union Minister of State for Electronics and Information Technology (MEITY) Rajeev Chandrashekar on the Indian side. Executive Vice President of the European Commission Margrethe Vestager and European Commissioner Theirry Breton served as the EU’s representatives.

Speaking at the event, Goyal emphasized the significance of new digital technologies and their transformations in terms of upskilling and reskilling current talent. He explained that the reciprocal recognition of degrees and courses will allow both parties to jointly enhance their skills.

He also recommended that working groups meet on a regular basis and define distinct tracks for skilling and talent, the semiconductor ecosystem, etc. to progress towards clear and measurable outputs in order to have a better understanding based on mutual sensitivities.

The Stakeholders Event, attended by 18 stakeholders from various business sectors in India and the EU, provided a platform for fruitful discussions and the exchange of views and suggestions. Five stakeholders from the Indian side represented the digital and technology industry (Working Group 1), whereas three stakeholders represented clean and green energy technologies (Working Group 2).

The conversations centered on a number of important topics, including digital technology, innovations, and disruptions. The delegates also discussed issues including standardization for cross-border merchant payments, enabling legislation, and strategies to boost digital commerce and investment between India and the EU.

They also discussed talent improvement and reskilling, as well as the necessity for digital transformation to scale. The program also included interactions on the generation of green hydrogen, battery systems, recycling, scaling up charging systems for improved access, waste and water management, and certifications allowing new ideas and technology. (India News Network)

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Goyal co-chairs India-Canada ministerial trade dialogue

India- Canada Ministerial Dialogue on Trade and Investment (MDTI) is a bilateral mechanism that provides an institutional mechanism to discuss a broad spectrum of trade…reports Asian Lite News

Union Minister of Commerce and Industry Piyush Goyal met Canadian Minister for International Trade Mary Ng during his two-day visit to Canada and co-chaired the India- Canada Ministerial Dialogue on Trade and Investment (MDTI) in Ottawa.

“Co-chaired the 6th India-Canada Ministerial Dialogue on Trade & Investment with my Canadian counterpart Mary Ng,” Goyal tweeted. “The dialogue reinforced how forging an Early Progress Trade Agreement would further deepen the Indo-Canadian trade ties, mutually benefiting both the countries.”

Goyal will hold meetings with CEOs of key Canadian companies, a Round Table of Indian and Canadian CEOs, interaction with Canadian and Indian companies based in Canada and a Financial Sector Round table, among others. The visit is expected to impart further momentum to bilateral trade and investment relations.

The minister would be accompanied by a delegation of Indian CEOs led by industry body FICCI.

Meanwhile, the Canadian minister said: “Working together is how we create good jobs & opportunities for our people. Today, Piyush Goyal & I co-chaired the 6th Canada-India Ministerial Dialogue on Trade and Investment – building on our strong foundation to open new doors for our businesses and jobs for our people.”

India- Canada Ministerial Dialogue on Trade and Investment (MDTI) is a bilateral mechanism that provides an institutional mechanism to discuss a broad spectrum of trade and investment-related issues and cooperation areas.

The dialogue focused on various themes including strengthening the Bilateral Trade Relationship between India and Canada, Investment Promotion and Cooperation, Green Transition – including Critical Minerals discussion and new Areas of Cooperation such as promoting B2B engagements.

The ministers also reviewed India-Canada CEPA (Comprehensive Economic Partnership Agreement) negotiations.

At the last MDTI meeting in March 2022, both ministers launched the CEPA negotiations with the possibility of an interim agreement or EPTA (Early Progress Trade Agreement). Since then, seven rounds of negotiations have been held.

Goyal will also inaugurate the Indian Pavilion at SIAL CANADA-2023, which is the largest food innovation trade show in North America with the participation of more than 1000 national and international exhibitors from 50 countries.

There will also be a Trade and Investment Promotion Event for the Agricultural and Food Processing sector with Indian companies and Canadian importers on the sidelines of SIAL-2023. This event is likely to be attended by 200 companies. (ANI)

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Goyal calls India as a ‘voice of developing nations’

Goyal is currently on an official visit to France and Italy during which he would be accompanied by a delegation of top Indian CEOs…reports Asian Lite News

Union Minister of Commerce and Industry Piyush Goyal on Wednesday called India a “voice of developing countries” and said that today the country represents the global south.

Speaking at the Gala Dinner in Rome among the presence of Indian and Italian Business leaders, Goyal said that India as the voice of the less developed countries, has been at the forefront of not only providing a better life for our people but also contributing to a better future for people in other parts of the world. “India today represents the global south, being the voice of the developing countries, the voice of the less developed countries, has been at the forefront of not only providing for a better life for our people but also contributing to a better future for people in other parts of the world, particularly in countries which have also been left behind in the development process,” the Union Minister said.

India’s Ambassador to Italy, Dr Neena Malhotra as well as Deputy Minister of Foreign Affairs and International Cooperation of Italy, Edmondo Cirielli were also present at the occasion.

Goyal further spoke on connectivity at the event and highlighted how India offers an oasis of opportunity with 1.4 bn people aspiring for a better quality of life.

The Union Minister said, “India offers an oasis of opportunity with 1.4 Billion people aspiring for a better quality of life, aspiring for good things, that we have missed out on over the years and the govt over the last decade has focused itself on providing the basic amenities that are required by any person, by any family.”

He also added that India now has nearly 800 million internet users across the length and breadth of the country and that 4G penetration is throughout the nation.

“We have ensured that no family is ever deprived of food, proper clothing, proper shelter, healthcare, and education. We now have nearly 800 mn internet users across the length and breadth of the country. 4G penetration is throughout the country. We have launched 5G, and by end of 2023, most of the main cities in India would be covered by 5G Connectivity,” Union Minister Piyush Goyal said at the Gala dinner in Rome on Wednesday.

Goyal is currently on an official visit to France and Italy during which he would be accompanied by a delegation of top Indian CEOs.

Union Minister of Commerce and Industry Piyush Goyal, while addressing India-France Business Summit and CEOs Roundtable in Paris on April 12, told participants and delegates that there is a huge delta of opportunities in India and invited them to leverage them.

The Embassy of India in Paris, in association with the industry body Confederation of Indian Industry (CII), the Mouvement des Entreprises de France(MEDEF) and the Indo-French Chamber of Commerce and Industry(IFCCI), organised the Business Summit and CEOs Roundtable on Tuesday (local time).

More than 50 CEOs from Indian and French companies participated at the CEOs Roundtable which was addressed by Minister Goyal and the Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Government of France, Olivier Becht. Sectors such as agriculture, tourism, defence, manufacturing, pharmaceuticals, textiles, and aerospace were also represented at the roundtable.

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Goyal to co-chair India-France business summit in Paris

Goyal will be on an official visit to France and Italy from Tuesday-Thursday during which he would be accompanied by a delegation of top Indian CEOs…reports Asian Lite News

Union Minister of Commerce and Industry Piyush Goyal will lead the Indian delegation at India-France Business Summit, commemorating 25 years of India-France friendship, on Tuesday in Paris.

Goyal and Olivier Becht, France’s Minister delegate of Foreign Trade, Attractiveness and French Nationals Abroad will co-chair the India-France Business Summit. The summit will focus on themes including building a green future, emerging technologies, defence cooperation and cooperation in the Indo-Pacific region, an official release said on Sunday.

The business summit and CEO roundtable are being organised by the Embassy of India in Paris in partnership with Medef, CII, Business France and IFFCI.

400-plus participants have registered for the business summit and have shown tremendous enthusiasm.

Minister Goyal is also scheduled to meet with French business leaders across various sectors and will attend a CEOs roundtable.

Goyal will be on an official visit to France and Italy from Tuesday-Thursday during which he would be accompanied by a delegation of top Indian CEOs.

“Goyal along with French Minister Olivier Becht will participate in a gala dinner event hosted by the Ambassador of India to France and Monaco Jawed Ashraf that will showcase India’s cultural heritage and soft power and expected to witness the participation of 650+ dignitaries from the French government, the Indian Business Diaspora in France and members of French business community. The Minister will also be interacting with members of the Indian community in Paris,” stated the release by the Ministry of Commerce and Industry.

The minister will later travel to Rome in Italy where he would meet Antonio Tajani, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation followed by a networking dinner with dignitaries from the government and industry.

He is also scheduled to meet top Italian CEOs for bilateral meetings followed by a CEOs Interactive Business Session, where 35 CEOs are likely to participate. This would be followed by a meeting with Adolfo Urso, Minister of Enterprises and Made in Italy, who would also interact with Indian CEOs.

This upcoming visit is expected to provide further momentum to bilateral relations with India’s key business partners in the European region. (ANI)

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Adopt green approach, Goyal tells businesses

Goyal said that countries don’t have the right to use up all the resources of this planet….reports Asian Lite News

Addressing the Inception Meeting of Business 20 (B20), Commerce Minister Piyush Goyal on Monday asked businesses to adopt a sustainable and green approach in business practices.

He asked them to use the forum of B20 along with G20 to look at how the government and businesses can collectively work towards a sustainable and equitable future agenda.

Addressing the Inception Meeting of Business 20 (B20), the official G20 dialogue forum with the global business community in Gandhinagar, he highlighted that India had always stood for sustainable development.

He mentioned that India was one of the top five countries in the world in terms of adopting and implementing environmental goals.

India regularly files UNFCCC report and has already exceeded its goal for 2030, of having a 40 percent share of renewable energy in its installed capacity in 2021, Goyal told the gathering.

Businesses that have decided to set up manufacturing in India grow and expand due to our competitiveness and ability to innovate and design new products, he added.

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