US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
India's External Affairs Minister S Jaishankar has stated that the US administration under President Donald Trump is moving towards multipolarity, which aligns with India's interests. He also revealed that India and the US have reached an agreement on the need for a bilateral trade pact. Jaishankar touched upon various foreign policy issues including India's role in the Russia-Ukraine conflict, the trajectory of the BRICS grouping, and relations with China during a session at the Chatham House think-tank in London.
"From President Trump's perspective, the one big shared enterprise that we have is the Quad, which is an understanding where everybody pays their fair share. There are no free riders involved. So that's a good model which works," he said. The Quad alliance consists of the US, India, Australia and Japan.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
Modi, who met the ministers-designate, said people have huge expectations and everyone will have to deliver, sources said.
Union Home Minister Amit Shah on Sunday said the ruling Mahayuti in Maharashtra will retain power with full majority and a decision on who will be the chief minister will be taken by the alliance partners after the state polls.
Fast-moving consumer goods (FMCG) distributors' association has written to the Ministry of Commerce and Industry, expressing its apprehensions that the "unchecked expansion" of quick commerce platforms was leading to severe disruptions in the retail ecosystem. India Consumer Products Distributors Federation on Thursday shot an email to the government, saying that significant challenges were posed by the rapid growth of quick commerce platforms such as Blinkit, Zepto and Instamart to the traditional retail sector and the FMCG distribution network in the country.
'My family members are devotees of Lord Tirumala Venkateswara. I visit the deity before making any major decisions.'
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
Who accompanied Prime Minister Narendra D Modi to his Thursday meeting with US President Donald J Trump in the Oval Office, and who did POTUS bring along?
What Piyush Goyal had to say on the Union Budget.
The Union ministers and farmer leaders had met earlier on February 8, 12 and 15 but the talks remained inconclusive.
Leading Indian electric two-wheeler (e2W) companies have said that "swapping" of batteries is currently unviable and will only increase the cost for a consumer to run the vehicle.
As many as six who hold law degrees include cabinet ministers Nitin Gadkari, J P Nadda, Piyush Goyal, Sarbananda Sonowal, Bhupender Yadav and Kiren Rijiju.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
BJP leaders Manohar Lal Khattar, Shivraj Singh Chouhan, Bandi Sanjay Kumar and Ravneet Singh Bittu may be among the new faces in the Union council of ministers which will be sworn on Sunday evening along with Prime Minister-designate Narendra Modi.
A picture showing Indian flag placed upside down during the meeting of two ministers went viral. The picture was released by photo agencies.
The government is set to examine concerns over quick commerce companies potentially undermining businesses of local kirana stores, particularly in the context of the draft Digital Competition Bill, according to official sources. The Ministry of Consumer Affairs recently raised the issue with the Ministry of Corporate Affairs during discussions around the proposed legislation. "We need to assess if and how the Bill can address these concerns and explore further steps to include provisions to keep a check," a senior official stated.
Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
With the tablet carefully kept inside a red cover with a golden-coloured national emblem embossed on it instead of the briefcase, Parliament will be her next destination after the call on President Droupadi Murmu at Rashtrapati Bhawan.
Prime Minister Narendra Modi, his cabinet colleagues Amit Shah, Nitin Gadkari, Rajnath Singh, chief ministers of Nationalist Democratic Alliance-ruled states and prominent personalities from industry and Bollywood on Thursday attended the grand swearing-in of Devendra Fadnavis as Maharashtra Chief Minister in Mumbai.
The Tejas Express between Ahmedabad and Mumbai Central will run six days a week except on Thursday. The train will halt at Nadiad, Vadodara, Bharuch, Surat, Vapi and Borivali stations in both directions. The train will have AC Chair Car Executive Class and AC Chair Car coaches. Meals will be served to passengers by on-board service staff.
BJP will find it tougher to push contentious Bills, especially those that would require Constitutional amendments, without the support of its allies and cooperation from the Opposition.
The government on Wednesday approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. These industrial areas will be in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP, and Jodhpur-Pali in Rajasthan, and one in Haryana. A decision in this regard was taken in a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
Rajya Sabha Chairman Jagdeep Dhankhar, Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla will lead a function in the Central Hall of Parliament on Tuesday to celebrate the country's rich parliamentary legacy and resolve to make India a developed nation by 2047.
The government has asked Hyundai Motors to be more forceful in its unequivocal apology, Union Minister Piyush Goyal said on Tuesday on the South Korean firm's Pakistan partner's tweet on Kashmir.
The Bharatiya Janata Party-led National Democratic Alliance is expected to achieve a clear majority in Rajya Sabha after bye-elections for 12 seats scheduled next month, which would help the party get the nod for key legislations such as the Waqf (Amendment) Bill.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
India will unveil its much-awaited new Foreign Trade Policy 2023-28 on Friday, with a view to boost exports amid slowing global trade. Commerce and Industry Minister Piyush Goyal will announce the foreign trade policy, according to the ministry. The current foreign trade policy (2015-20) is in force till March 31, 2022.
India has reduced the time period for foreign investors to seek international arbitration from five years to three years as part of the recently signed investment pact with the United Arab Emirates (UAE), a departure from its model Bilateral Investment Treaty (BIT). Under the Investor-State Dispute Settlement (ISDS) mechanism, if the Indian judicial system is unable to resolve a dispute within this shortened period, investors can resort to international arbitration. The investment pact, signed on February 13 in Abu Dhabi, came into force on August 31, replacing the previous pact.
"Mr Kalyan Banerjee rose in this House and said sorry. But I will say that we all come to this House with the spirit of contribution to the nation's development...but we also come with a sense of self respect.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
These issues range from resolving the conflicts between power sector borrowers and banks.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
The members of the cabinet committees included Union ministers from the Bharatiya Janata Party and its National Democratic Alliance partners like Janata Dal-United, Telugu Desam Party, Janata Dal-Secular, Shiv Sena and Lok Janshakti Party-Ram Vilas.
Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended for six months till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis. The FTP provides guidelines for enhancing exports to push economic growth and create jobs.
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