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Piyush Goyal urges energy storage industry to reduce dependence on imports from certain countries

Economic Times

Economic Times · 1m ago

Piyush Goyal urges energy storage industry to reduce dependence on imports from certain countries

Commerce and Industry Minister Piyush Goyal encouraged the energy storage industry to minimize reliance on imports from certain countries and identify alternative supply sources. He advocated for increased focus on research and development to create innovative products and foster self-sufficiency. Goyal also highlighted the importance of developing infrastructure for electric vehicles and expanding manufacturing in critical minerals and semiconductors. The Indian government is actively working to boost domestic manufacturing, especially in renewable energy.

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Piyush Goyal proposes talks on carbon tax issue with steel industry leaders

YourStory

YourStory · 11m ago

Piyush Goyal proposes talks on carbon tax issue with steel industry leaders

Commerce and Industry Minister Piyush Goyal has urged top steel industry leaders to discuss the implementation of a carbon border adjustment tax (CBAM) to promote sustainable manufacturing in the sector. He also encouraged the industry to aim for 500 million tonnes of steel production by 2047 and explore ways to reduce carbon emissions. Goyal expressed interest in utilizing artificial intelligence to optimize production and improve efficiency. Additionally, he suggested that the industry inform the government of any unfair trade practices in other countries. Goyal is in dialogue with the European Union regarding the implementation of a carbon tax or CBAM.

US Trade rep urges India to ensure hardware import rules don’t hurt trade

Inc42 · 1y ago

US Trade rep urges India to ensure hardware import rules don’t hurt trade

At the 14th Ministerial-level meeting of the India-US Trade Policy Forum, US trade representative Ambassador Katherine Tai raised concerns over India's new import requirements for computers and tablets. She urged Commerce Minister Piyush Goyal to ensure that the policies do not restrict trade in the sector. Goyal cited national security concerns for the new import requirements. The implementation of the "import management system" was welcomed by Tai, who called for collaboration to ensure supply chain resilience. The government had imposed restrictions on imports of IT hardware last year, later deferring the implementation and implementing the new tracking system.

Piyush Goyal asks startups for ideas to manage tomato supply chain

YourStory

YourStory · 1y ago

Piyush Goyal asks startups for ideas to manage tomato supply chain

Piyush Goyal, the Minister of Commerce and Industry, is seeking ideas from startups to better manage the tomato supply chain in India. This comes after the price of tomatoes soared to Rs 200 per kg in certain months. Goyal emphasized the need for innovative solutions that address both basic and complex issues. The government previously launched a 'Tomato Grand Challenge hackathon' to gather innovative ideas to ensure affordable prices for consumers and fair value for tomato farmers.

Piyush Goyal asks industry players to be bold, focus on turning competitive

YourStory

YourStory · 6m ago

Piyush Goyal asks industry players to be bold, focus on turning competitive

Union Commerce and Industries Minister Piyush Goyal urged industry players to focus on becoming competitive without relying on government support like subsidies and import duties. Speaking at the IMC Chamber of Commerce event, he emphasized the need for innovation and efficiency to meet India's developmental aspirations and global engagement in trade. Acknowledging challenges like reliance on imports in sectors such as oil and defense, Goyal encouraged adopting quality standards for collective industry benefits while highlighting India's readiness for an enhanced role in global trade.

CAIT’s Praveen Khandelwal Urges Govt To 'Suspend' Flipkart & Amazon Ops

Inc42 · 11m ago

CAIT’s Praveen Khandelwal Urges Govt To 'Suspend' Flipkart & Amazon Ops

The Confederation of All India Traders (CAIT) Secretary-General, Praveen Khandelwal, plans to meet with Union Commerce Minister Piyush Goyal to discuss suspending the operations of Amazon India and Flipkart. Khandelwal highlighted that the practices of these e-commerce platforms are severely harming the manufacturing industry. The Competition Commission of India (CCI) has recently found Amazon India and Flipkart guilty of violating antitrust regulations by favoring specific sellers and listings.

Startup Mahakumbh second edition to showcase flying taxi, sustainable hybrid propulsion rocket

Economic Times

Economic Times · 4m ago

Startup Mahakumbh second edition to showcase flying taxi, sustainable hybrid propulsion rocket

The second edition of Startup Mahakumbh will be held from April 3-5, showcasing innovations like a flying taxi made in India. The event will feature Korean and Nepalese startup pavilions, including a sustainable hybrid propulsion rocket engine from Nepal. Commerce and Industry Minister Piyush Goyal will inaugurate the event, which aims to bring together over 45 startups, tribal entrepreneurs, and representatives from 50 countries in collaboration with various governmental and industry bodies.

India will not allow evergreening of patents: Piyush Goyal

Economic Times

Economic Times · 1m ago

India will not allow evergreening of patents: Piyush Goyal

Commerce and Industry Minister Piyush Goyal stated that India will not permit the evergreening of patents, a practice where patent holders make minor modifications to extend their patent life. Indian patent laws require significant efficacy improvements for new patents on existing drugs. Despite requests from multinational firms to amend these laws, India upholds its robust intellectual property rights framework in trade agreements with countries like the UK and Switzerland. Additionally, Goyal emphasized collaboration with the UK in critical minerals.

Gautam Adani has a new $5 billion business idea in mind | Company Business News

Livemint

Livemint · 9m ago

Gautam Adani has a new $5 billion business idea in mind | Company Business News

The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.

India In Talks For Overseas Partnerships For Lithium Processing

Inc42 · 1y ago

India In Talks For Overseas Partnerships For Lithium Processing

Indian companies, including Ola Electric, are considering bidding for lithium mining rights being auctioned by the Indian government. India is seeking partnerships with countries like Australia, the US, Britain, Bolivia, Japan, South Korea, and Russia to strengthen its lithium mining and electric vehicle industries. As India aims to be self-reliant in lithium processing, it is looking for technical help and processing technology from these countries. This comes as India has discovered significant reserves of lithium and aims to reduce its dependence on imports, mainly from China. The government has also recommended incentives for setting up lithium processing plants.

Tycoon drives India’s push against China’s solar-energy dominance

Livemint

Livemint · 9m ago

Tycoon drives India’s push against China’s solar-energy dominance

India's Adani Group, founded by billionaire Gautam Adani, is establishing a solar supply chain to reduce its reliance on Chinese imports and meet India's renewable energy targets. The group plans to set up indigenous manufacturing of ingots, wafers, cells, and panels, and is constructing a solar farm that will cover an area over five times larger than Paris. India aims to install 500 gigawatts of renewable energy capacity by 2030 but is currently two-fifths of the way there. Adani Group's investments throughout the supply chain, including local manufacturing, offer opportunities to address the tension between renewable energy targets and reducing dependence on Chinese imports.

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