NEW DELHI: Union Minister of Commerce and Industry Piyush Goyal shared key developments from the ministry’s activities in the past week, marking significant progress in international trade partnerships, domestic reforms, and industrial cooperation.
Strengthening Indo-Philippines Relations
Goyal joined Philippines President Ferdinand R. Marcos Jr. at the India-Philippines CEO Roundtable, engaging with top business representatives to enhance bilateral trade and investments. Discussions focused on boosting the Ease of Doing Business and identifying collaboration opportunities in sectors such as healthcare, pharmaceuticals, IT, science and innovation, education, and agriculture.
Deepening India-Germany & EU Trade Ties
The Commerce Minister held talks with Ms. Katherina Reiche, Federal Minister for Economic Affairs and Energy, Germany, to strengthen India-Germany trade relations and expand India-EU trade engagement. The meeting explored partnerships in critical sectors, paving the way for a stronger Indo-German economic alliance.
Major Reforms at GeM’s 9th Foundation Day
The Government e-Marketplace (GeM) celebrated its 9th Foundation Day under the theme Ease, Access & Inclusion, announcing sweeping reforms. These include the removal of caution money, rationalisation of assessment fees, and reduction in transaction charges—effectively exempting 97% of orders.
Expanding India-Russia Industrial Cooperation
India and Russia convened the 11th Session of the Working Group on Modernisation and Industrial Cooperation, reviewing progress in sectors like mining, fertilizers, and railway transport. The dialogue also identified new avenues for collaboration, including aerospace technology, rare earth minerals, and industrial infrastructure development.
These developments underscore the Commerce Ministry’s focus on deepening global economic partnerships, fostering innovation, and streamlining domestic trade systems to support business growth.
