Latest news with #UnionCommerce
Time of India
5 days ago
- Business
- Time of India
India emerges as key market for LNG, ranks fourth globally in 2024: TotalEnergies CEO
Synopsis TotalEnergies' Chairman Patrick Pouyanne highlighted India's growing importance as the fourth-largest LNG market globally in 2024. The French energy giant has invested nearly USD 5 billion in India over the past five years, focusing on gas infrastructure and renewable energy projects. Encouraged by Union Commerce Minister Piyush Goyal, TotalEnergies plans further expansion in India.
Indian Express
15-05-2025
- Business
- Indian Express
As Beijing, Washington dial down, Piyush Goyal to lead team for US trade talks
A 'large Indian trade' delegation led by Union Commerce Minister Piyush Goyal is set to visit the US for talks next week to potentially finalise the contours of an interim trade agreement between the two countries, a senior government official said Thursday. The fresh round of trade talks with the US assumes significance as it follows the conclusion of a surprise US-China trade deal that saw substantial reductions in the 'tit-for-tat' tariffs. 'The deal has only resulted in a de-escalation of tensions. But substantial tariffs on China remain. India is focusing on its competitiveness,' an official said in response to a question on the impact of the US-China deal on India. On the recent action by India to propose retaliatory tariffs against the 25 per cent US duties on steel and aluminium at WTO, the official said that India aimed to reserve the right to retaliate even as negotiations with the US were ongoing. Another official explained that India needed to approach the WTO within 90 days of the US tariffs to retain its right to retaliate. Notably, Indian steel exporters had told the government that US tariffs have impacted nearly $5-billion worth of exports. The thaw in US-China tension, which came as a surprise to many in trade policy circles, is seen as a setback for 'China-plus-one' countries — such as India — which may now see fewer benefits from a trade deal with the US than previously anticipated. Though New Delhi initiated trade talks with Washington DC earlier than Beijing, China quickly resolved key sticking points with the US and sealed an interim deal. Earlier on Thursday, US President Donald Trump claimed that India had 'offered to drop all tariffs' on the US during negotiations. However, External Affairs Minister S Jaishankar said that any trade deal must be mutually beneficial. 'A trade deal has to work for both countries. That would be our expectation from any trade deal. Until that is done, any judgment will be premature,' Jaishankar said at the opening of Honduran embassy in New Delhi. Speaking at a business leaders' forum in Doha earlier in the day, Trump had said, 'It is very hard to sell in India… they are offering a deal… willing to literally charge us no tariffs.' The Indian Express had reported that US demands during the negotiations centred on greater market access, particularly for automobiles, whisky, and certain agricultural products. Indian negotiators, meanwhile, sought improved access for labour-intensive sectors such as textiles and leather. On digital trade, the US is pushing for greater data access and is challenging India's strict data localisation rules, which require Indian data to be stored domestically. During Trump's first term, disputes over data localisation were a major source of friction between the two nations. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Fashion Value Chain
07-05-2025
- Business
- Fashion Value Chain
India-UK FTA to Boost Apparel & Textile Exports, Jobs, Growth
The newly signed India-UK Free Trade Agreement (FTA) is being hailed as a historic leap forward for India's economy, with apparel and textiles among the biggest beneficiaries. With tariffs eliminated on 99% of Indian exports, the deal offers Indian manufacturers unprecedented market access in the UK, enabling a surge in exports, job creation, and global competitiveness. The FTA removes longstanding trade barriers for labour-intensive sectors including apparel, leather, marine products, footwear, and toys—placing India firmly on the path to becoming a global textile hub. Dr. A. Sakthivel, Chairman of the Apparel Made-Ups & Home Furnishing Sector Skill Council, called the deal a 'Himalayan achievement', thanking PM Narendra Modi and Union Commerce Minister Piyush Goyal for their leadership. 'This will energize exports and significantly boost employment across the value chain,' he said. In addition to goods, the FTA enables service sector growth linked to fashion, retail, and design—offering Indian talent, especially youth and entrepreneurs, new global opportunities. A standout provision is the three-year exemption from UK social security contributions for Indian professionals, allowing better income retention and ease of mobility. The agreement also enhances India's strategic alignment with the UK, strengthens its post-Brexit trade footprint, and supports PM Modi's vision of showcasing Indian craftsmanship and innovation on the global stage. With wide-ranging benefits, the FTA is expected to accelerate inclusive growth and bolster India's status as a trusted global trade partner.
India.com
02-05-2025
- Business
- India.com
MSMEs Take Center Stage at Vejalpur Startup Festival 2.0 as Focus Shifts Beyond Unicorns
Vejalpur Startup Festival (File) Vejalpur Startup Festival held its second edition in Gujarat. It stood up as well known faces not only Indian Startup world but way beyond then this. It brought a great impact on the country's MSME Segments. A grand event organised in the presence of Union Commerce Minister Shri Piyush Goyal, Paytm's Vijay Shekhar Sharma, and boAt's Aman Gupta, the conversations led to the high-growth startups and unicorn stories. Rather, it made space for the lesser-known, but no less substantial, role of India's 63 million MSMEs, enterprises that make up the backbone of the country's economy, and employ more than 110 million individuals. During his address, Minister Goyal made a pointed observation: India's economic ambitions cannot be realised without actively supporting its MSME sector. He spoke of the need for practical support through funding access, policy clarity, and easing compliance for the millions of small enterprises that quietly power the nation's growth. In a moment that many in the audience took to heart, a Certificate of Appreciation was handed to Ahmedabad-based Egniol, a platform that has been steadily working with MSMEs over the years. From guiding businesses through government and private growth schemes to supporting them with compliance, funding assistance, and long-term strategy, the firm has become a trusted partner to thousands of entrepreneurs across India, clearly building the MSME ECOSYSTEM with the help their Two public-interest platforms,i.e., MSME Samvaad and My MSME House. Those are reliable resources for business owners seeking clarity, updates, and guidance that reaches one lakh businesses subscribed and these initiatives play a significant role in driving MSME growth. The festival also showed the changing ways in which MSMEs are adapting to challenges. With growing regulatory requirements and the need to stay informed, digital platforms are increasingly becoming essential tools for small business owners. They offer one place to track policy changes, apply for schemes, and manage day-to-day requirements, freeing up entrepreneurs to focus on what they do best: run their businesses. While the Vejalpur Startup Festival remains an arena for fresh ideas and innovation, this year's iteration marked a marked change. The focus shifted, if only for a moment, towards the hundreds of millions of small businesses working behind the curtain, and towards the individuals and platforms they rely on. In doing so, the festival quietly reset its definition of success in India's business scene. The event did what most startup festivals try to accomplish: energizing founders and bringing about dialogue. What made it different was that it took time to stop and acknowledge those that don't tend to get put in the limelight.
The Hindu
30-04-2025
- Business
- The Hindu
The case for a national civic assistant
At Startup Mahakumbh 2025, Union Commerce Minister Piyush Goyal questioned the focus of Indian start-ups on consumer-centric models, including food delivery apps and luxury services, contrasting them with China's emphasis on deep-tech sectors such as artificial intelligence, semiconductors, and electric vehicles. He urged the ecosystem to set higher ambitions and contribute to India's technological self-reliance. While receiving criticism from industry leaders who defended consumer-focused start-ups for job creation and economic growth, his remarks raised an important question: what kind of innovation should define India's global presence? While start-ups may draw inspiration from China's technological path, the Government of India must recognise that it too has a unique opportunity and thereby a responsibility. This opportunity is not simply one to replicate global models, but to go a step further and set an example itself by innovating in the public governance space. It means that the government has an opportunity and responsibility to use advanced technology to create public governance-oriented systems that are inclusive, transparent, and responsive to citizen needs. Creation of such systems will not only enhance public service delivery and make citizens feel genuinely heard, but may also inspire private sector start-ups to move beyond imitation and contribute to broader, purpose-driven innovation. Public governance platforms India already has a variety of digital platforms in the public governance space. The Union and State governments, NGOs, and start-ups regularly introduce new ones. Yet citizens continue to face issues and confusion when filing complaints pertaining to even common civic problems such as stray animals, unattended garbage, potholes, and broken infrastructure. Some cities and States operate their own civic platforms for complaints. Delhi uses MCD 311 and Green Delhi, Andhra Pradesh has PuraSeva, and Karnataka offers Janahita. CPGRAMS is a national portal for grievances. Most of these platforms follow similar processes which require selection of a category, a written description of the issue, sometimes photos in a particular format and so on. The platforms rely on rigid workflows that struggle with natural, unstructured user input. On certain platforms, complainants are also required to identify and select the appropriate department from a vast list of options. This is often cumbersome and challenging, especially when information about departmental jurisdictions is not readily accessible. Consequently, complainants make errors or become frustrated which may lead to the abandoning of the process midway. Current systems are also challenging for those who are not comfortable with digital tools or cannot describe and convey their issues in a formal language. Furthermore, there exists the problem of outdated user interfaces, and inconsistent platform responsiveness within the current systems. Hence, the whole experience in many platforms remain far from seamless. Therefore, it is suggested that the government seize the opportunity and utilise technology towards modernising the grievance lodging and redress system by creating a nationally integrated, AI-powered civic assistant. This refers to the creation of a system, powered by large language models, to enable people to report issues in plain language, whether typed or spoken. The assistant would then interpret the complaint, identify the appropriate department and official, draft a formal submission, and provide the option to track its status. The entire interaction should take place through a chatbot interface, removing the need for forms, downloads, or complex navigation. Accessible dashboard Most important, once the complaint is submitted, it should be integrated into a publicly accessible dashboard that, while safeguarding personal information, comprehensively lists pending complaints by area, responsible department, and duration of pendency, along with other categorisations. Such a dashboard can act as a mechanism to instil and analyse accountability and transparency. Today, many grievance redress systems remain opaque. Citizens often wonder if their complaints are even received. A dashboard could change it and act as a foundational pillar upon which public trust in the grievance redress framework may be cultivated. If a pothole goes unrepaired for 45 days, the delay will be public knowledge. If multiple complaints about stray dogs emerge from a single ward, a pattern will be visible. If one panchayat ward resolves issues faster than another, that difference will be measurable. India, despite its digital push, has not yet bridged this last-mile intelligence gap. Generative AI models, even in their present stage, are capable of creating an impact in the public governance space. Systems such as AI civic assistants are a simple, achievable yet an impactful vision. It is noteworthy to mention that some start-ups have attempted innovation in this space where some designed conversational AI interfaces and some enabled public dashboards of complaints. However, these initiatives remain fragmented and relatively obscure because they often lack widespread public awareness and hence adoption. A system of the scale and nature such as the AI civic assistant should ideally originate as a government-led initiative, supported by robust public outreach and sustained visibility such as the Swacch Bharat Abhiyaan or the 'Give up LPG subsidy' campaign. This will ensure that citizens across the country are both informed and empowered to make use of it effectively. Pertinently, such a platform should reach the citizen and not the other way around. The mantra can be 'One nation, one civic dashboard'. Pertinently, a system like this, if designed and implemented with clarity, has the potential to redefine how citizens interact with the government. It will transform fragmented grievance channels into a unified, intelligent framework that sets a benchmark for governance. Hence, the Government of India should take responsibility for showing what is possible in governance through action. If we accomplish this, then other nations may look to India as the benchmark instead of we looking at them as the benchmark. Finally, the real question is not whether such simple yet impactful civic systems can be built, but whether it will be chosen to be built. (Sidharth Kapoor is an advocate and public policy and tech enthusiast; views are personal)
