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India Gazette
4 days ago
- Business
- India Gazette
India and Italy to strengthen cooperation in agriculture, food processing: Commerce Ministry
New Delhi [India], June 6 (ANI): India and Italy will strengthen cooperation in agriculture and food processing, and set up Joint Working Groups in the automobile and space sectors, the Minister of Commerce & Industry said in a release. The decision was reached during a high-level meeting held between Union Minister of Commerce & Industry, Piyush Goyal, and Italy's Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, in Brescia--Italy's manufacturing hub. The two leaders co-chaired the 22nd session of the India-Italy Joint Commission for Economic Cooperation (JCEC), during his 2-day visit to Italy, which concluded on June 5, 2025. The JCEC saw robust participation from senior officials, policymakers, and stakeholders from both sides in a spirit of constructive engagement and mutual ambition. The dialogue reaffirmed the strategic economic partnership between the two nations and aligns with the Joint Strategic Action Plan 2025-29 to promote economic resilience, industrial partnerships, and inclusive, sustainable growth. India and Italy agreed to prioritise cooperation in several emerging and strategic sectors. These include Industry 4.0, aerospace, energy transition, and sustainable mobility. The two sides also stressed the importance of joint efforts in skill development, digital transformation, migration and mobility, as well as global connectivity initiatives such as the India-Middle East-Europe Economic Corridor (IMEC). Several concrete outcomes emerged from the JCEC. Both sides identified collaboration opportunities in sustainable agri-value chains, agri-machinery, food packaging technologies, and renewable energy. They also agreed to work together in areas such as green hydrogen and biofuels and expressed intent to facilitate the movement of skilled professionals between the two countries. On the sidelines of the JCEC, a high-level Growth Forum was organised, bringing together CEOs and industry leaders from both countries. The platform proved valuable in identifying emerging business opportunities and industrial collaborations of mutual interest. A strong Indian business delegation comprising top leadership from nearly 90 companies accompanied the Minister during the visit. The delegation visited Italian industries and held several meetings with local companies. Shri Goyal also held one-on-one interactions with Italian corporate leaders and welcomed their plans to expand operations, manufacturing, or establish presence in India. On the occasion of World Environment Day, Goyal and Deputy Prime Minister Tajani visited A2A, a leading Italian waste-to-energy company in Brescia. The visit highlighted opportunities for collaboration in the clean energy sector. In a symbolic gesture under Prime Minister Narendra Modi's 'Ek Ped Maa ke Naam' initiative, both leaders planted saplings in memory of their mothers at the Santa Giulia UNESCO heritage complex in Goyal's visit was instrumental in highlighting the growth and opportunities in the Indian economy, and further enrich growing bilateral commercial and economic linkages, the release added. (ANI)
India Gazette
09-05-2025
- Business
- India Gazette
First round of India-New Zealand Free Trade Agreement negotiations concludes
New Delhi [India], May 10 (ANI): In a major step towards expanding bilateral trade and investment engagement, the first round of negotiations for the India-New Zealand Free Trade Agreement (FTA) concluded successfully on Friday in Delhi. The negotiations were held from 5-9 May, an official statement from Ministry of Commerce & Industry said. This development builds on the shared commitment to deepen economic ties and guidance given by Prime Minister Narendra Modi during the visit of Christopher Luxon, Prime Minister of New Zealand in March, the stament added The FTA was launched during the meeting between Piyush Goyal, Minister of Commerce and Industry, and Todd McClay, Minister for Trade and Investment of New Zealand on March 16. The First Round followed a series of virtual discussions held between both partners which laid the groundwork for the in-person meeting. Constructive negotiations were held across all areas of FTA including Trade in Goods and Services, Trade Facilitation and mutually beneficial sectors of economic co-operation. This engagement highlights the strategic importance both partners attach to building a mutually beneficial, balanced and a fair trade agreement. The bilateral trade relationship has seen a sharp upward trajectory in recent years. Total merchandise trade between the two countries has reached USD 1.3 billion in the financial year 2024-25, registering a strong growth of 48.6 per cent over the previous financial year. This underscores the growing potential of the India-New Zealand Economic Partnership. The FTA is expected to further elevate trade and investment potential, improve supply chain integration, and foster a predictable and transformative trading environment for businesses on both sides, the statement said. Both countries reaffirmed their common vision and mutual understanding to work towards a future-ready framework and conclude the FTA this year. The next round will be held in July 2025. As India steadily advances its footprint through multiple trade agreements, this round reflects a steadfast commitment to enhancing economic partnerships aligned with national priorities and global aspirations. (ANI)
News18
28-04-2025
- Business
- News18
Piyush Goyal Begins 5-Day Visit To Three European Cities, Arrives In London To Boost Business Ties
Curated By : Last Updated: April 28, 2025, 18:29 IST Commerce & Industry Minister Piyush Goyal meets UK Secretary of State for Business and Trade Jonathan Reynolds to push FTA talks, in London on Monday. Commerce and Industry Minister Piyush Goyal on Monday arrived in London for two days of discussions to strengthen bilateral trade and investment relations with the UK. Goyal met UK Secretary of State for Business and Trade Jonathan Reynolds to push free-trade agreement (FTA) talks. It is part of his five-day visit to three European cities — London, Oslo and Brussels — to boost business ties with the UK and Europe. 'Arrived in London for two days of engaging discussions aimed at strengthening bilateral trade and investment relations. In my first engagement, held a productive meeting with the UK Secretary of State for Business and Trade Jonathan Reynolds to advance Free Trade Agreement negotiations, reinforcing our commitment to deepening India-UK economic ties," Goyal said in a post on X. Arrived in London for two days of engaging discussions aimed at strengthening bilateral trade and investment my first engagement, held a productive meeting with the UK Secretary of State for Business and Trade @JReynoldsMP to advance Free Trade Agreement… — Piyush Goyal (@PiyushGoyal) April 28, 2025 The minister, who is accompanied by a business delegation of leading Indian companies, is expected to hold a series of high-level talks with UK government ministers and officials. During a meeting with his UK counterpart, Jonathan Reynolds, the duo are scheduled to take stock of the ongoing Free Trade Agreement (FTA) negotiations, believed to be approaching their final stages. 'This government is committed to doing the right deal with India which will improve access for UK businesses, cut tariffs, and make trade cheaper and easier," a UK Department for Business and Trade (DBT) spokesperson said ahead of the ministerial meeting. 'Talks have been ongoing since they were relaunched in February, and we will only sign a deal that is in the best interests of the British people and drives growth across the UK," the spokesperson said. The relaunch of the negotiations, following a hiatus for general elections in both countries last year, is aimed at clinching an agreement that is expected to significantly enhance the estimated GBP 41 billion a year India-UK trade partnership. Goyal's visit comes soon after Finance Minister Nirmala Sitharaman's London visit earlier this month, when she had highlighted a 'great sense of positivity and also eagerness and a dedication" to have the FTA conclude 'sooner rather than later". According to officials close to the discussions, the talks have been progressing at speed with some of the remaining issues expected to be ironed out at the ministerial level. From the UK, Goyal is scheduled to leave for Oslo where he is expected to review progress of the Trade and Economic Partnership Agreement (TEPA) signed with the European Free Trade Association (EFTA) members which include Iceland, Liechtenstein and Switzerland besides Norway. For the final leg of his Europe tour, the minister is scheduled for meetings in Brussels, expected to revolve around ongoing trade negotiations with the 27-member European Union (EU). Swipe Left For Next Video View all It follows European Commission President Ursula von der Leyen's visit to India in February, when both sides announced plans to sign a free trade deal by the end of this year. (With Inputs From PTI) Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! News business » economy Piyush Goyal Begins 5-Day Visit To Three European Cities, Arrives In London To Boost Business Ties
Times of Oman
21-02-2025
- Business
- Times of Oman
India at forefront of providing growth engine to world, contributing 16 pc of Global growth: Goyal
Kochi: India is at the forefront of providing growth engine to world and contributing 16 per cent of world's overall growth, says Union Minister Commerce & Industry Piyush Goyal. Speaking at the Global Investors Summit 2025 in Kochi on Friday, he emphasized that India's economic rise is a result of both central and state governments working together, fostering a spirit of competition and collaboration. "It is only when the states grow, the country can grow. And today, 16 per cent of the world's growth comes out of India. We are at the forefront of providing the growth engine to the world," Goyal stated. He highlighted that a successful economic strategy involves states cooperating with the central government while also competing with each other to attract investment and promote development. The Union Minister expressed strong support for Invest Kerala, the state's initiative to attract investment. He reiterated the central government's commitment to working alongside Kerala and other states to boost economic growth, manufacturing, tourism, and infrastructure development. Goyal also recalled how Prime Minister Narendra Modi's Vibrant Gujarat summit set the stage for large-scale investment summits in India. He stated that originally an annual event, it later became bi-annual and served as a model for state-level investment promotion efforts. He credited such initiatives for strengthening cooperative federalism, where both state and central governments work as a team to drive economic progress. Highlighting India's rapid economic advancement, Goyal pointed out that the country has moved from being the world's 11th largest economy to the 5th largest in the last decade. "We are poised now to become an internationally relevant player in the world. We have moved from the 11th largest economy to the 5th largest economy in the last 10 years," he asserted. With India continuing to attract global investments and expand its economic influence, Goyal expressed confidence that the country will play an even greater role in shaping the world's economic future.
