News

BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal Union Minister of Commerce Piyush Goyal has said BRICS is the driving force of global growth and the economies in the five-member bloc are catching up with the combined GDP of G7 countries, with significant shifts in the manufacturing process. He said ‘the 21st century has witnessed significant shifts in what we manufacture, how we manufacture and for whom we manufacture’. He added ‘Manufacturing is a significant part of trade and industry and plays a pivotal role in the gro...
BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal
BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal
Source: Accord Fintech
22/08/2023 10:22:05 AM
Government closely monitoring FTAs with ASEAN, Korea: Anupriya Patel Minister of State for Commerce and Industry Anupriya Patel has said that the government is closely monitoring all the free trade agreements (FTAs) which it has signed and based on stakeholder consultations, existing FTAs with ASEAN and Korea are being reviewed. She said the government is negotiating FTAs with the European Union, the UK, European Free Trade Association (EFTA) and Canada.  The minister stated that these negotiations or its review are a long-drawn process and the timelin...
Government closely monitoring FTAs with ASEAN, Korea: Anupriya Patel
Government closely monitoring FTAs with ASEAN, Korea: Anupriya Patel
Source: Accord Fintech
14/08/2023 12:35:59 PM
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee Reserve Bank of India (RBI) has permitted 20 banks operating in the country to open 92 Special Rupee Vostro Accounts (SRVAs) of partner banks from 22 countries including Bangladesh, Belarus, Botswana, Fiji, Germany, Guyana and Israel, as part of efforts to promote bilateral trade in local currencies. Other countries are Kazakhstan, Kenya, Malaysia, Maldives, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and United Kingdom. Minister of St...
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee
Source: Accord Fintech
27/07/2023 12:18:18 PM
Xiaomi India joins Optiemus to manufacture audio products locally Xiaomi India on Monday announced a partnership with Optiemus Electronics Limited (OEL) to manufacture its audio products in the country. Optiemus Through this partnership, Xiaomi has kicked off the production for its first locally-manufactured audio product at the OEL factory in Noida, Uttar Pradesh. With this collaboration, the company is targeting a 50 per cent increase in smartphone domestic value addition over the next two years. The move signifies a larger initiative in the artif...
Xiaomi India joins Optiemus to manufacture audio products locally
Xiaomi India joins Optiemus to manufacture audio products locally
Source: Accord Fintech
29/05/2023 3:54:55 PM
Telangana takes IT to tier-II towns, opens fourth facility Expanding the information technology sector to tier-II towns in Telangana, the state government on Saturday opened an IT tower in Mahabubnagar. Minister for Information Technology and Industries, K T. Rama Rao, inaugurated the IT tower, which is the fourth such facility in tier-II towns. The minister said that the proximity of the facility to Hyderabad and Shamshabad airport will attract companies to establish their operations in the area. Spread across four acres, the IT tower in Ma...
Telangana takes IT to tier-II towns, opens fourth facility
Telangana takes IT to tier-II towns, opens fourth facility
Source: IANS
7/05/2023 10:02:45 AM
Exporters should focus on untapped potential in every district to diversify export basket: Anupriya Patel Reiterating the slogan ‘Vocal for local and local goes global’, Union Minister of State for Commerce and Industry, Anupriya Patel has urged exporters to focus on untapped potential in every district to diversify export basket. The Minister further noted that the export community must contribute towards a developed India. Its contribution is huge for the brand image of the country. Ministry of Commerce and Industry is with export community at all steps to assist and support. Urg...
Exporters should focus on untapped potential in every district to diversify export basket: Anupriya Patel
Exporters should focus on untapped potential in every district to diversify export basket: Anupriya Patel
Source: Accord Fintech
27/03/2023 2:02:48 PM
Startups, entire innovation ecosystem are engines of growth for any country: Som Parkash The Minister of State in the Ministry of Commerce and Industry, Som Parkash has said that startups and the entire innovation ecosystem are the engines of growth for any country and recognizing this aspect, the Government launched Startup India initiative in 2016 with an aim to build a stronger ecosystem for nurturing India’s startup culture that would further drive the economic growth, support entrepreneurship, and enable large-scale employment opportunities. The Minister further not...
Startups, entire innovation ecosystem are engines of growth for any country: Som Parkash
Startups, entire innovation ecosystem are engines of growth for any country: Som Parkash
Source: Accord Fintech
16/03/2023 2:07:11 PM
70 projects underway in Andhra worth Rs 33,540cr: Nitin Gadkari Union Minister for Road Transport and Highways Nitin Gadkari said there are currently 70 projects underway in Andhra Pradesh, totalling 2,014 km and costing Rs 33,540 crore. Addressing Andhra Pradesh's Global Investment Summit 2023 at Visakhapatnam on Friday, the Minister said efforts are being made to establish five Green Highways and two Expressways at a total cost of Rs 32,430 crore . Gadkari said during 2022-23, total work costing Rs 15,400 crore has been awarded for a length of...
70 projects underway in Andhra worth Rs 33,540cr: Nitin Gadkari
70 projects underway in Andhra worth Rs 33,540cr: Nitin Gadkari
Source: IANS
4/03/2023 9:43:59 AM
PM GatiShakti needs to play proactive role in planning, sound decision making: Piyush Goyal The Union Commerce and Industry Minister, Piyush Goyal has reviewed progress of PM GatiShakti and  appreciated the progress made by Central Ministries and States. He emphasized that PM GatiShakti needs to play a proactive role for planning and in sound decision making. Goyal requested the Ministries to identify attributes for data layers which will further enhance the National Master Plan (NMP) Platform. He said that the Ministries have developed necessary mechanisms for validation an...
PM GatiShakti needs to play proactive role in planning, sound decision making: Piyush Goyal
PM GatiShakti needs to play proactive role in planning, sound decision making: Piyush Goyal
Source: Accord Fintech
3/01/2023 4:09:52 PM
Consumer empowerment going to be paramount feature of developed India: Piyush Goyal Calling for keeping consumers at the centre of all the initiatives, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has emphasized that the consumer empowerment is going to be a paramount feature of a developed India. The Union Minister also applauded the Consumer Affairs Department for launching various initiatives and for their outstanding achievements.  He also appreciated the Consumer Commissions across the country fo...
Consumer empowerment going to be paramount feature of developed India: Piyush Goyal
Consumer empowerment going to be paramount feature of developed India: Piyush Goyal
Source: Accord Fintech
26/12/2022 12:21:18 PM
Experience a melange of cultures The eagerly anticipated North East Festival, the largest and liveliest festival in the capital, will take place in Delhi from December 23 to 26 at Jawaharlal Nehru Stadium (gate no. 14). The ninth North East Festival has a lot to offer, including exhibitions, book launches, B2B meetings, and a variety of cuisine, craft, and cultural events. Narayan Rane, Minister of Micro, Small and Medium Enterprises of India, who is going inaugurate North East Festival, said: "North East Festival, a...
Experience a melange of cultures
Experience a melange of cultures
Source: IANS
25/12/2022 2:22:10 PM
Manufacturing sector witnesses 11.8% annual growth rate during 2021-22 Underlining series of measures taken by the Government to improve the economic situation and convert the disruption caused by COVID 19 into an opportunity for growth, the Minister of State for Commerce and Industry, Som Parkash has said that the growth of manufacturing sector was adversely affected due to COVID-19 pandemic, which has shown positive growth in double digits in the Financial Year 2021-2022. The Minister said that the annual growth rate of Manufacturing Sector as per Index of Ind...
Manufacturing sector witnesses 11.8% annual growth rate during 2021-22
Manufacturing sector witnesses 11.8% annual growth rate during 2021-22
Source: Accord Fintech
12/12/2022 2:51:16 PM
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement Britain Trade Secretary Kemi Badenoch will be in New Delhi from Monday for the sixth round of Free Trade Agreement (FTA) negotiations between the UK and India. Badenoch will meet her counterpart, Indian Minister of Commerce and Industry Piyush Goyal, in person for the first time, aiming to strengthen ties between the two countries and reinvigorate talks on an ambitious bilateral trade deal. She will address both teams of senior negotiators ahead of the sixth round of formal negotiations...
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement
United Kingdom trade secretary in Delhi today to discuss Free Trade Agreement
Source: IANS
12/12/2022 11:00:16 AM
India, China trade deficit touches $51.5 billion during April-October this fiscal: Piyush Goyal The data provided by commerce and industry minister Piyush Goyal showed that the trade deficit, difference between import and exports, between India and China has touched $51.5 billion during April-October this fiscal. The deficit during 2021-22 had jumped to $73.31 billion as compared to $44.03 billion in 2020-21. According to the data, imports during April-October this fiscal stood at $60.27 billion, while exports aggregated at $8.77 billion. Goyal said that the merchandise exports from ...
India, China trade deficit touches $51.5 billion during April-October this fiscal: Piyush Goyal
India, China trade deficit touches $51.5 billion during April-October this fiscal: Piyush Goyal
Source: Accord Fintech
12/12/2022 10:27:13 AM
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash Listing series of measures taken by the Government to boost domestic and foreign investments in India, Minister of State for Commerce and Industry, Som Parkash has said that the reforms taken by Government have resulted in increased Foreign Direct Investment (FDI) inflows in the country. FDI inflows in India stood at $45.15 billion in 2014-2015 and have continuously increased since then, and India registered its highest ever annual FDI inflow of $84.84 billion (provisional figures) in the fin...
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash
Source: Accord Fintech
8/12/2022 1:50:20 PM
India to take decisions on diff aspects of frameworks of IPEF based on national interest: Piyush Goyal Assuring that India will take decisions on different aspects of the frameworks of the India-Pacific Economic Forum (IPEF) based on national interest, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has expressed hope that in a day’s time, IPEF would finalize a framework within which member nations could interact on different areas of mutual interest. Goyal further noted that in this day and age of work from home, new ...
India to take decisions on diff aspects of frameworks of IPEF based on national interest: Piyush Goyal
India to take decisions on diff aspects of frameworks of IPEF based on national interest: Piyush Goyal
Source: Accord Fintech
9/09/2022 2:31:37 PM
Performance linked incentive in white goods is win-win for India, industry, people: Piyush Goyal Terming the performance linked incentive (PLI) in White Goods as a win-win for India, Industry and the people, Minister for Commerce and Industry, Consumer Affairs, Public Distribution and Textiles, Piyush Goyal has said that the PLI scheme is being used to only encourage the industry to take the first few steps to compete in the global market and give it the initial push to bring scale to business. The Minister for Commerce and Industry expressed happiness with demand from Air-conditionin...
Performance linked incentive in white goods is win-win for India, industry, people: Piyush Goyal
Performance linked incentive in white goods is win-win for India, industry, people: Piyush Goyal
Source: Accord Fintech
25/07/2022 2:28:36 PM
PM Gati Shakti National Masterplan to help achieve India’s aim of USD 5 Trillion economy PM Gati Shakti  National Masterplan to help achieve India’s aim of USD 5 Trillion economy, Shri Som Parkash, Hon’ble Minister of State, Ministry of Commerce & Industry, Govt. of India. Addressing the Industry Stakeholders at the INDIA INTERNATIONAL LOGISTICS & SUPPLY CHAIN Conference, organised by PHDCCI & Logistics Insider , Shri Som Parkash, Hon’ble Minister of State, Ministry of Commerce & Industry, Govt. of India said that the PM Ga...
PM Gati Shakti National Masterplan to help achieve India’s aim of USD 5 Trillion economy
PM Gati Shakti National Masterplan to help achieve India’s aim of USD 5 Trillion economy
Source: PR Agency
10/06/2022 11:24:24 AM
India fast-tracking negotiations for proposed FTAs with UK, EU: Anupriya Patel Minister of state for commerce and industry Anupriya Patel has said that India is fast-tracking negotiations for proposed free trade agreements (FTAs) with certain developed countries like the UK as well as with the European Union, and maybe by this year end, the government would be able to give a final shape to few of these pacts. The minister also expressed hope that the trade pact with Australia would be operationalised ‘very soon’.  She also said India has already impl...
India fast-tracking negotiations for proposed FTAs with UK, EU: Anupriya Patel
India fast-tracking negotiations for proposed FTAs with UK, EU: Anupriya Patel
Source: Accord Fintech
30/05/2022 12:38:01 PM