Latest news with #PiyushGoyal
Straits Times
5 hours ago
- Business
- Straits Times
China's shadow falls between India and Asean. It shouldn't
Find out what's new on ST website and app. Amid a changing regional order, India and Asean should not fritter away the gains of the last three decades. The trajectory of incremental expansion of bilateral engagement between India and Asean now confronts some turbulence, says the writer. Indian Commerce Minister Piyush Goyal's reported remarks last month – that some Asean member states are 'China's B team' – underscore the strategic divergence between India and Asean amid a rapidly changing regional order. Mr Goyal, who was speaking at the India Global Forum on June 19, made the comments in the context of the review of India's free trade agreement (FTA) with Asean.
Canada News.Net
6 hours ago
- Business
- Canada News.Net
Negotiations going on for win-win trade agreement with US: Union Minister Piyush Goyal
New Delhi [India], July 14 (ANI): Union Minister of Commerce and Industry Piyush Goyal on Monday said that India-US trade negotiations are going on, to come up with a win-win agreement for both nations. Speaking to reporters, Piyush Goyal said, 'Negotiations are going on at a very fast pace and in the spirit of mutual cooperation so that we can come out with a win-win trade complementing agreement with the United States.' Goyal's statement comes in the backdrop of talks with the US to finalise a Bilateral Trade Agreement (BTA). India is making concrete progress toward finalising a Bilateral Trade Agreement (BTA) with the United States, with both countries committed to following the path outlined by their respective leaders, a senior government official said on Monday. Speaking on the ongoing trade negotiations, the official emphasised that India is 'moving in terms of a BTA' and actively 'looking at a mutually beneficial deal' that would serve the interests of both nations. The official highlighted that the current negotiations are proceeding along the framework established by the leadership of both countries, stating, 'We are following the path of BTA, which the two leaders have decided. 'When asked about the structure and timeline of the potential agreement, the official indicated that both nations are maintaining flexibility in their approach. 'We are looking at BTA. How it moves forward, whether there will be a first phase, a second phase, whatever phases will happen that will be mutually decided,' the official explained. A high-level team from India's Commerce and Industry Ministry has arrived in Washington DC, to take forward crucial negotiations for a Bilateral Trade Agreement (BTA) with the United States. This round of negotiations is expected to begin on Monday morning (US time) and will continue for four days, another official told ANI. Rajesh Aggarwal, Chief Negotiator and Special Secretary of the Commerce Ministry, will join the scheduled discussions on Wednesday. India and the US have to narrow differences in sectors like agriculture and automobiles, and are looking for a win-win pact for both sides. The Trump administration has deferred imposing additional tariffs on several countries, including India, till August 1, with the two sides now having additional time to negotiate a deal beyond the initial deadline of July 9. (ANI)
Time of India
7 hours ago
- Business
- Time of India
Oranges Bring In Natl Glory For Vidarbha Region
Nagpur: Nagpur, Amravati and Akola headlined the performance of Vidarbha under the Centre's 'One District One Product' (ODOP) 2024 initiative, awards for which were presented in New Delhi on Monday. Nagpur bagged the silver medal in Category A - Agriculture for excellence in orange processing while Amravati won the bronze medal in same category for Madarin Orange. Akola secured Special Mention award in non-agriculture category for innovation and industrial progress in the cotton ginning and pressing sector. Overall, Maharashtra clinched the gold medal in category A for outstanding achievements in promoting both agricultural and non-agricultural products across its districts. The awards were presented during a ceremony at Bharat Mandapam, New Delhi, in the presence of Union commerce and industry minister Piyush Goyal, Delhi chief minister Rekha Gupta, and Union minister of state Jitin Prasada. Vinayak Mahamuni, CEO of Zilla Parishad, received the award on behalf of the Nagpur district administration. District collector Vipin Itankar credited the achievement to the combined efforts of the administration, principal secretary Harshdeep Kamble, and the leadership of Anbalagan Sir. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like La app de IA que está cambiando vidas — ¿por qué de repente está en todas partes? Finanzas y economía Prueba ahora Undo Akola emerged as the only district from Maharashtra to be honoured under the non-agricultural category, thanks to its consistent industrial growth in the cotton sector. The award was received by Santosh Bansod, general manager of the District Industries Centre. "This gives our cotton national identity and boosts opportunities for local entrepreneurs," district collector Ajit Kumbhar said. A key driver of Akola's success is the Sangha Cluster in Borgaon Manju, comprising 103 members and supported under state and central schemes. The region now hosts over 100 ginning and pressing units, along with upcoming yarn and garment units. Other ODOP 2024 highlights from Maharashtra include dRatnagiri (gold – Alphonso Mango), and Nashik (special mention – Grapes and Raisins).
Time of India
9 hours ago
- Business
- Time of India
Exclude agriculture from India-US trade deal: Farm bodies
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Farmers body Indian Coordination Committee of Farmers Movements (ICCFM) Tuesday urged the government not to include any aspects of agriculture including dairy in the proposed bilateral trade agreement between India and the US as it would have implications on these a communication to commerce and industry minister Piyush Goyal, it said the Indian government must stop any trade deal with the US that Is detrimental to farmers' interests.'We urgently request that you exclude all aspects of agriculture from this trade deal to protect the interests of Indian farmers, ensuring our food sovereignty and security, and safeguarding the vitality of our rural economy ,' it said as the potential consequences of a trade agreement that grants duty-free access to the US agricultural products are 'deeply alarming'.It said that in agriculture, the US has a 'significant surplus that they may seek to offload onto markets like India'.Noting that the US is world's largest agricultural subsidizers, with the 2024 Farm Bill allocating a staggering $1.5 trillion, it said: 'Allowing such heavily subsidized US imports into India would undermine our longstanding position at the World Trade Organization (WTO) against these very subsidies'Moreover, import of any such transgenic products into India, be it corn, soy, canola, cotton, or apples, are 'unacceptable to us due to concerns about biosafety, especially regarding herbicide-tolerant and glyphosate-tolerant crops'.'We urge you not to proceed with any trade deal with the USA that involves agriculture and threatens our farm livelihoods, specifically requesting that you refrain from signing any Free Trade Agreement in this sector,' it week, the Bhartiya Kisan Union said If Indian markets are opened for capitalism and big corporate based agriculture system like America, 'then the farmers of the country will be forced to kneel before big corporate companies, also this step is a direct attack on the objective of self-reliant India'.'Any international agreement without consulting Indian farmers and livestock farmers will be a double blow to the rural class which is already doing loss making farming, because America provides more subsidy to its farmers than India, which would be far-fetched to even imagine,' it said.'The farmer of India will be reduced to a laborer on his own land. To protect the farmers and livestock farmers of the country, the protectionist policy should be given priority by the government,' BKU had said.
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Business Standard
14 hours ago
- Business
- Business Standard
ISMA urges Centre to ban ethanol imports, flags ₹40,000 crore risk
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has urged Commerce Minister Piyush Goyal to disallow any import of ethanol for fuel purposes, warning that such a move could jeopardise thousands of crores of investment in the sector and disrupt timely payment of sugarcane dues to farmers. In a letter written a few days ago, ISMA said that India's ethanol production capacity has increased by over 140 per cent since 2018, following investments of more than ₹40,000 crore. Ethanol blending has reached 19 per cent and is on track to achieve the 20 per cent target by the 2024–25 supply year, which ends in October—one year ahead of schedule. ISMA said this progress was made possible by favourable policies and restrictions on ethanol imports for fuel purposes. 'If imports of ethanol for fuel are allowed, then it would dilute the significant gains made in domestic capacity building, investment, and job creation,' the letter stated. India is currently negotiating a Bilateral Trade Agreement (BTA) with the United States to avert the threat of high tariffs. According to some sources, the US is pushing for the inclusion of ethanol imports for fuel use in the deal. The US produces the bulk of its ethanol from grains.
