The move aims to prevent undesired delays by streamlining the preparations for the assembly elections due in a few months, he said
In the absence of this licence, the cut and polished diamonds were getting imported in Dubai and getting assorted there and re-exported, impacting India's exports and jobs in the sector
We do believe that we would like to be a friend to every country in world, more so member states of Bimstec, 7 nations who collectively make up almost 22 per cent of world population, Goyal added
Reasons for slow progress can be non-trade barriers or trade barriers coming in way of normal trade, he said adding possible impact of other regional FTAs on Bimstec region could be cause of the delay
Goyal added that EV focus, and reduction in imports of goods, oil seeds, rubber and pulses would help further strengthen the domestic currency
India and the UK have been negotiating a trade agreement for over two-and-a-half years
Goyal said the ministry would consider the EU's suggestion and come up with whatever is good for the Indian industry and for the people
European Union has suggested India devise its own mechanism instead of paying carbon tax for imports, says Commerce Minister
The Survey, he said, is not at all binding on the government and there is no thinking on supporting Chinese investments in the country
The Commerce minister termed the criticisms against the hike in capital gains tax and securities transaction tax in derivatives trading as fear-mongering
It may also be noted that from 2004-05 to 2013-14, trade deficit grew by approximately 24.8 times while it grew only by 1.75 times from 2014-15 to 23-24, Commerce & Industry Minister Piyush Goyal said
A reduction in the basic customs duty of gold to 6 per cent (from 15 per cent) will reduce smuggling, said Union minister Piyush Goyal
"The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling," Goyal told PTI
The minister added that though at present the US is attractive for investors because of high interest rates, going forward India provides huge opportunities for businesses
Goyal was attending the G7 Trade Ministers' meeting in Italy to discuss ways to enhance global trade relations and economic cooperation
He added that the industry is not seeking any financial assistance and just needs a good regulatory ecosystem like taxation and how returned goods will be treated
Goyal encouraged Swiss companies to become part of India's growth story and invest in its growing and dynamic market
Commerce and Industry Minister is in Switzerland regarding implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA)
He also said that growth in the services sector is helping the country's outbound shipments to register positive growth rates
Reggio Calabria is a coastal city in southern Italy. The Group of Seven (G7) industrialised nations are Canada, France, Germany, Italy, Japan, the UK, and the US