Washington, April 4 (IANS) US President Donald Trump’s proposed fiscal year 2027 budget outlines sweeping cuts to domestic programmes and a broad restructuring of federal agencies, while maintaining funding for core priorities such as security, law enforcement and veterans, according to the official document.The budget proposes “a 10-per cent cut compared to 2026 non-defence levels” as part of an effort to constrain spending and overhaul the Federal Government.It frames the plan as a shift…
Latest Department of Commerce News & Updates
New Delhi, March 30 (IANS) Union Commerce and Industry Minister Piyush Goyal on Monday said that India’s stance at the recently concluded WTO Ministerial Conference (MC14) in Cameroon was “not only heard but also reflected” in the final outcomes, underlining the country’s growing influence in shaping global trade discussions.Wrapping up his four-day visit to Cameroon — where he participated in the WTO Ministerial Conference — Goyal noted that the global trade landscape has undergone signif…
New Delhi, March 4 (IANS) India has highlighted the potential for growth in exports to Japan in sectors such as textiles, pharmaceuticals, agriculture, and services, at a high-level meeting in Tokyo, for achieving a more balanced bilateral trade relationship, according to a statement issued by the Ministry of Commerce and Industry on Wednesday.During the 7th Joint Committee meeting under the India–Japan Comprehensive Economic Partnership Agreement (CEPA) held this week, both sides reviewed iss…
New Delhi, March 2 (IANS) The government on Monday said it will continue to engage closely with all stakeholders and relevant ministries and departments to ensure that India’s trade continues to move efficiently and that any emerging issues are addressed in a timely manner.The Centre reiterated its readiness to facilitate trade operations, including procedural flexibility in export-related authorisations in cases of genuine disruption; coordination with Customs authorities to ensure smooth clear…
Washington, Feb 27 (IANS) Democratic Senators have questioned US Commerce Secretary Howard Lutnick over a $1.6 billion rare-earth minerals deal, warning that the arrangement could benefit his immediate family and his former firm, Cantor Fitzgerald.In a February 25 letter, Senators Elizabeth Warren, Ron Wyden, and Chris Van Hollen said the agreement brokered by the Department of Commerce with USA Rare Earth, Inc. (USAR) “could enrich your immediate family.”“This follows in a long string of …
New Delhi, Feb 21 (IANS) India’s pharmaceutical exports grew by 9.4 per cent in 2024–25 to reach $30.47 billion, and the industry is now preparing to achieve double-digit growth in 2026–27 with strong government support, the Ministry of Commerce and Industry said on Saturday.The interaction, organised on the theme “Scaling up Pharma Exports,” reflected the government’s focus on expanding India’s global footprint in medicines through closer coordination with industry and regulators….
New Delhi, Feb 20 (IANS) Commerce and Industry Minister Piyush Goyal on Friday launched seven additional interventions under the Export Promotion Mission, a flagship initiative of the Centre aimed at empowering micro, small, and medium enterprises (MSMEs) for competing in global markets. These interventions are designed to address key challenges faced by Indian exporters, promote broad-based and inclusive export growth, and strengthen India’s position as a globally competitive export powerhous…
New Delhi, Jan 31 (IANS) The Indian Institute of Foreign Trade (IIFT) is playing an important role in shaping future leaders and further strengthening India’s presence in the global trading landscape, Minister of Commerce and Industry, Piyush Goyal, said on Saturday.IIFT has been ranked first in the ‘Times B-School Ranking 2026’, reaffirming its position as a premier institution in management education with a distinctive focus on international trade and global business.Goyal described the …
New Delhi, Jan 2 (IANS) As part of the initial rollout of the Export Promotion Mission, two key interventions under the Niryat Protsahan sub-scheme have been launched to strengthen MSME exports by providing affordable and easier access to trade finance, the Commerce Ministry said on Friday.The first intervention relates to interest subvention for pre- and post-shipment export credit, aimed at reducing the cost of export credit and easing working-capital constraints faced by MSME exporters, a Com…
New Delhi, Jan 2 (IANS) An Inter-Departmental Committee, headed by the Union Secretary, Financial Services, M. Nagaraju, met here on Friday to consider the proposals of foreign banks wanting to set up branches in India.The meeting was attended by officials of the member ministries, including Home Affairs and External Affairs, as well as the Department of Commerce and the Reserve Bank of India (RBI).The meeting was convened to consider proposals received from the RBI in respect of foreign banks k…