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Malaysia Sun
9 hours ago
- Malaysia Sun
Modi will 'meekly bow' to Trump tariff deadline: Rahul Gandhi takes dig at Piyush Goyal's 'Do not make deals based on deadlines or time pressure'
New Delhi [India], July 5 (ANI): A day after Union Minister Piyush Goyal categorically stated that 'India never enters into trade deals based on deadlines or time pressure', Leader of Opposition in the Lok Sabha Rahul Gandhi on Saturday asserted that Prime Minister Narendra Modi will 'meekly bow' to theTrump tariff deadlines, referring to the India-US trade deal. Rahul Gandhi referenced a media report and wrote on X, 'Piyush Goyal can beat his chest all he wants, mark my words, Modi will meekly bow to the Trump tariff deadline.' Commerce and Industry Minister Piyush Goyal on Friday emphasised that India will only enter into trade agreements, including the proposed US Bilateral Trade Agreement (BTA), when they serve the country's national interests and offer mutual benefits. Speaking on the sidelines of the 16th Toy Biz B2B expo in New Delhi, Goyal made it clear that India's approach to international trade negotiations remains firm and principled. 'It should be a win-win agreement, and only when India's interests are safeguarded -- national interest will always be supreme -- and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,' the minister stated. Goyal emphasised that India negotiates on its own minister revealed that India is currently engaged in trade discussions with multiple countries across different continents. 'Discussions are ongoing with various countries -- be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations,' he said. However, Goyal stressed that the multiplicity of negotiations does not mean India is in a rush to conclude deals. 'A Free Trade Agreement is only possible when there is mutual benefit,' he explained. 'India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,' Goyal stated. This approach reflects India's confidence in its negotiating position and its commitment to securing favourable terms for its economy and businesses. At the toy expo, Goyal expressed optimism about the growth potential of India's toy manufacturing sector, highlighting both domestic and international opportunities. 'I am sure with the high quality goods I am seeing here, they will all be finding good market with the whole gulf region all the 6 countries of the Middle East as they are today finding in nearly 153 countries in the world,' the minister said, praising the quality of Indian toy products. Goyal announced that the government is preparing additional support measures for the sector. 'We will soon be coming out also with the support program and incentive scheme to support the toy industry,' he revealed. The minister highlighted the enormous domestic market potential for toys in India, noting the country's demographic advantage. 'Considering that we have a market of 1.4 billion Indians who would like to use toys. At every age, there is a demand of toys,' Goyal observed. He characterized the toy industry as 'a growing sector which have eyes on the world,' indicating the government's confidence in the sector's export potential alongside domestic consumption. (ANI)
Malay Mail
13 hours ago
- Malay Mail
Hajiji launches Sabah shellfish project promising up to RM6,500 monthly income for rural communities
TUARAN, July 5 — The cockle industry has the potential to generate RM34.4 million annually based on an estimated landing of 3,240 tonnes per year and a 7.6-fold return on investment in Sabah, said Chief Minister Datuk Seri Hajiji Noor. In recognising this potential, the state government today launched the Sabah Shellfish Resource and Industry Development Project. Hajiji noted that the initiative will open up opportunities for local economic growth through shellfish products, as well as create new exports avenues via downstream activities such as canning, shellfish sambal, and other shellfish-based food products. 'For the private sector, this is the best time to invest in seafood processing, sustainable packaging, and building Sabah's export chain. This opportunity is not only profitable but also supports a sustainable future,' he said while officiating the project here today. Also present was the chief executive officer of the Sabah Economic Development and Investment Authority (SEDIA), Datuk Seri Hashim Paijan. Hajiji said this project is also in line with the state government's commitment to making the Blue Economy a key economic pillar for the people of Sabah, while underscoring the government's determination to explore marine and maritime resources to strengthen the state's position in the Blue Economy on the international stage. 'The Blue Economy not only aims to balance prosperity with sustainability, but by 2030, the global value of the blue economy is expected to reach US$3 trillion,' he said. He shared that the collaborative project between SEDIA, the Malaysian Fisheries Department, and the Sabah Fisheries Department is being carried out in two phases. 'The first phase, which has been completed, involved mapping studies and exploration of shellfish resources from October 2024 to May 2025 at potential sites, including Tuaran and Beluran, which served as pilot project sites. 'The second phase, scheduled to begin in 2026, will involve technology transfer and field implementation, with 77 farming lots identified, including 12 lots in Tuaran and 65 lots in Beluran, covering an area of 1,617 hectares,' he said. According to Hajiji, who is also the chairman of SEDIA, each lot will be managed by 10 heads of households, resulting in 770 main beneficiaries comprising fishery entrepreneurs, rural communities, and members of bottom 40 per cent (B40) income group. 'Even if only 40 per cent of the lots operate optimally, participants can still earn a monthly income of around RM4,800 to RM6,500. This means the involved communities will benefit from sustainable income through shellfish farming,' Hajiji said. He stressed that youth will also be trained in modern aquaculture, producing a new generation of Sabah marine entrepreneurs, as the project brings significant improvements to participants' lives and broader benefits to the environment and the state economy. Hajiji emphasised that Sabah will be developed as the ASEAN Blue Ocean Seafood Hub, on par with major producing states such as Perak, Penang, and Selangor. He added that the state government is fully committed to supporting this industry by providing continuous training and modern technology to project participants. — Bernama
Free Malaysia Today
15 hours ago
- Free Malaysia Today
Malaysia slaps duties on steel imports from China, South Korea and Vietnam
The investment, trade and industry ministry said action has to be taken to prevent 'further injury' to the domestic industry. (Reuters pic) PETALING JAYA : The government has imposed provisional anti-dumping duties ranging from 3.86% to 57.90% on certain iron and steel imports from China, South Korea and Vietnam. The investment, trade and industry ministry said the duties will take the form of bank guarantees, effective for up to 120 days starting July 7, pending a final determination by Nov 3. This follows a preliminary investigation on Feb 6 into flat-rolled iron or non-alloy steel products coated with zinc using the hot-dip process, commonly known as galvanised steel coils or sheets. Local steelmaker CSC Steel Sdn Bhd had lodged a petition, claiming that imports from the three countries were being sold below their domestic market prices, causing losses to Malaysian producers. 'The government has found that there was sufficient evidence to continue with further investigation on the importation of the subject merchandise from China, South Korea and Vietnam at dumped prices. 'The provisional measure is necessary to prevent further injury to the domestic industry,' the ministry said in a statement today. Companies and exporters affected by the decision have until July 14 to submit feedback. A final decision will be made by Nov 3. More information, including a public version of the findings, may be found at
