PIYUSH GOYAL

Piyush Goyal on ecommerce; Centre charges up EV cos

Union commerce minister Piyush Goyal said ecommerce firms are operating in an opaque manner, and that quick commerce platforms need to integrate kirana stores in their supply chain. This and more in today’s ETtech Top 5.

Will Goyal's concerns of ecomms making India a 'couch potato' push new policy?

Trade Minister Piyush Goyal's recent comments on potential e-commerce rule violations have reignited debates on stricter regulations. While he voiced concerns about inactive lifestyles due to online shopping, he also emphasized the need for fair play and transparency in the sector. The impending policy aims to balance growth and consumer safety.

India will wear a grand necklace of industrial parks, says commerce and industry minister Piyush Goyal

India will establish a network of industrial parks to boost investment, according to minister Piyush Goyal. These parks, featuring large industries and MSMEs, aim to enhance exports to $2 trillion by 2030. The ecommerce policy is also being developed, focusing on reforms and reducing dependence on Chinese imports.

Fully back need for tech, but wary of opaque ecomm operations hurting India's interests: Piyush Goyal

Commerce and industry minister Piyush Goyal says FDI is allowed in B2B but online players such as Amazon are selling to consumers, which raises questions about the legality of their functioning; also calls for involvement of kiranas in quick commerce supply chain.

Not against ecommerce firms, want them to be fair and honest: Piyush Goyal

"What the country always desires is fair play, is honesty'¦ for the customer, honesty to the supplier of goods and services and to ensure that other people also have a fair chance to compete against such online business," the Union minister, a member of Parliament from the Mumbai North constituency, said.

Piyush Goyal flays Amazon, unchecked ecomm

Piyush Goyal, India's Commerce Minister, criticized Amazon's $1 billion investment, suggesting it masks predatory pricing and doesn't benefit the economy. He raised concerns about ecommerce disrupting small retailers and questioned a report suggesting no impact on traditional retail jobs. Goyal called for cautious regulation and the need to understand ecommerce's role better.

Amazon's investment in India to make up for its losses; not to support Indian eco: Piyush Goyal

Commerce and Industry Minister Piyush Goyal criticised Amazon's USD 1 billion investment in India, accusing the company of filling losses through predatory pricing that harms small retailers. He questioned the e-commerce business model and potential social disruptions caused by fast-growing online retail. Goyal emphasised the need for orderly technology growth and citizen-centric connectivity. He also disassociated himself from a report on e-commerce impact, expressing concern over the future dominance of e-commerce in India.

Ola Electric stock surge; Piyush Goyal slams ecomm growth

Ola Electric's share price has nearly doubled in two weeks since listing. More on this in today’s ETtech Top 5.

Growth of e-commerce in India 'matter of concern, nothing to be proud of', says Piyush Goyal

Union Commerce Minister Piyush Goyal expressed concerns regarding the fast expansion of e-commerce in India, highlighting potential social disruptions. At a report launch, he stressed the need to evaluate the sector's broader impact on market dynamics and consumer behavior, even as the industry continues to grow.

India, Africa should target USD 200 bn trade in next 7 years: Piyush Goyal

Piyush Goyal, India's Commerce and Industry Minister, highlighted potential to double India-Africa trade to USD 200 billion in seven years. Key collaboration areas Goyal mentioned include agriculture, pharmaceuticals, mining, and renewable energy. He urged increased participation in India's duty-free scheme and emphasized partnerships in IT, entertainment, and critical minerals, especially for the EV sector.

Death of the kirana store: Will quick commerce quicken it?

Quick commerce platforms like Blinkit and Instamart have begun to overshadow India's traditional kirana stores, known for their community-driven approach. Offering faster deliveries and discounts, these platforms are becoming popular among urban consumers. To stay competitive, kirana stores need to embrace digitalization, as rapid changes in consumer preferences continue to reshape the market.

Online vendors generated 15.8 million jobs in India: Report

A new report by Pahle India Foundation highlighted that e-commerce in India has created 15.8 million jobs, including 3.5 million for women. Online vendors have shown improved business metrics and higher sales. The study also revealed increased consumer spending in smaller cities, urging offline vendors to adopt e-commerce strategies for better growth.

Delhi Connaught Place Hanuman Mandir to get 15 new service improvements for devotees: Here are details

To improve services at Connaught Place's Hanuman Mandir, NDMC and Union minister Piyush Goyal announced 15 enhancements. Initiatives include improved cleaning, lighting, and potential battery-operated carts. Staff numbers were increased, and efforts will focus on better queue management and overall visitor experience, especially on busy days like Tuesdays and Saturdays.

Warning from Piyush Goyal: Is India about to become a nation of couch potatoes?

Growth of e-commerce through predatory prices is a concern for small retailers: Piyush Goyal

Commerce Minister Piyush Goyal voiced concerns about how heavy discounts and predatory pricing by e-commerce giants could harm small retailers. He cited Amazon's billion-dollar loss as indicative of unsustainable practices. Goyal called for organizing the sector to avoid disrupting India's 100 million small businesses.

Piyush Goyal isn't happy with online shopping boom, warns India will become a country of couch potatoes

Union Minister Piyush Goyal expressed concerns about the rapid growth of e-commerce in India, citing its potential to encourage a sedentary lifestyle. He highlighted the need for a balanced approach, considering its impact on traditional retail businesses and employment. Goyal also raised issues related to predatory pricing and market disruptions by major e-commerce players.

Piyush Goyal invites Malaysian businesses to invest in India's oil, gas, and electronics sectors

Union Minister of Commerce and Industry, Piyush Goyal, underscored the need to bolster trade ties between India and Malaysia during the 'Meeting of India-Malaysia CEOs Forum' in New Delhi on Monday. He urged deeper collaboration across several sectors, aiming to expand trade and business relations.

Piyush Goyal assures industry on govt's efforts to ensure conducive biz environment

Minister Piyush Goyal held a meeting with over 100 industry stakeholders, including 35+ CEOs and CFOs from various sectors, to discuss regulatory reforms, trade, and logistics. The discussions addressed concerns on market demand, talent availability, and access to capital, aiming to create a more conducive business environment.

Piyush Goyal suggests a rethink on BIMSTEC FTA

Commerce Minister Piyush Goyal urged the seven BIMSTEC nations to reconsider the slow-moving free trade agreement (FTA) negotiations, suggesting a shift to a preferential trade agreement that could expedite progress. At the CII BIMSTEC Business Summit 2024, he also proposed local currency trade to address trade imbalances within the bloc.

Piyush Goyal suggests BIMSTEC group members to relook proposed FTA

Commerce Minister Piyush Goyal called on BIMSTEC nations to reassess their sluggish FTA negotiations, proposing a preferential trade agreement instead. Despite 22 rounds since 2004, significant progress remains elusive. Goyal suggested trading in local currencies to even out trade imbalances and sought input from business leaders to guide future decisions.

India has the ability, intent to become developed nation by 2047: Piyush Goyal at ASSOCHAM India@100

Minister of Commerce and Industries Piyush Goyal addressed ASSOCHAM's book launch event for Prof. K V Subramanian’s book, ‘India@100: Envisioning Tomorrow’s Economic Powerhouse,’ discussing India's potential to achieve a $55 trillion economy by 2047, contrasting predictions by Ersten Young and Goldman Sachs. Goyal expressed confidence in India's talent and leadership under Prime Minister Modi, aiming for stable governance to emulate China's growth and transition to a developed nation by 2047.

Piyush Goyal slams India Inc for focusing on small gains

Commerce Minister Piyush Goyal criticized Indian industries for prioritizing imports over local products, impacting foreign exchange reserves. He noted their reluctance to offer market access while demanding duty concessions in FTAs. Goyal also expressed concern over low industry participation in meetings aimed at boosting local value-add and exports.

Piyush Goyal criticises opposition on tax terrorism, crony capitalism, MSP, paper leaks

Commerce and Industry Minister Piyush Goyal criticized Rahul Gandhi's claims on tax terrorism, crony capitalism, MSP, paper leaks, and low representation of OBCs, SCs, and STs in bureaucracy. Goyal accused the UPA government of crony capitalism, failing the economy, and not implementing the Swaminathan Committee report. He praised the current government's economic achievements and policies for startups and farmers.