Piyush Goyal highlights key engagements across banking, MSMEs, aerospace, and infrastructure, ET Manufacturing
— PiyushGoyal (@PiyushGoyal)
Union Commerce and Industry Minister Piyush Goyal shared key developments from the past week, reflecting the government's continued push to strengthen India's trade, industrial, and infrastructure landscape.In a high-level meeting with the Chairman of State Bank of India , along with top executives from other major banks, ECGC Ltd., and senior ministry officials, the minister reviewed the status of export credit and explored new opportunities to bolster India's export financing ecosystem.During a visit to Srinagar, Goyal met with delegations from the Kashmir Chamber of Commerce & Industry and the MSME Development Forum 's Kashmir Chapter, reinforcing the government's commitment to empowering local businesses.He also interacted with stakeholders from the Jammu & Kashmir Fruits and Vegetable Processing and Integrated Cold Chain Association, focusing on the potential of agri-value chains in the region.In Bengaluru, the minister toured key units at the Karnataka Industrial Areas Development Board (KIADB) Aerospace SEZ in Devanahalli. He visited Unimech Aerospace Manufacturing Ltd. and Safran HAL Aircraft Engines Pvt. Ltd., highlighting India's growing capabilities in aerospace manufacturing and Make in India initiatives."A review meeting was held to address key issues affecting major infrastructure projects in Gujarat and Rajasthan through the Project Monitoring Group (PMG) mechanism," Minister added.Further, a review meeting through the Project Monitoring Group (PMG) was held to resolve critical issues impacting major infrastructure projects in Gujarat and Rajasthan, aiming to accelerate execution timelines and remove investment bottlenecks.These engagements underscore the ministry's multi-sector approach to boosting industrial growth, regional development, and export competitiveness.
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Time of India
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As reported by Reuters, Musk was expected to announce a $2–3 billion investment for a local facility and meet Prime Minister Narendra cancellation was widely seen as a sign that the two sides had failed to reach an impasse began to shift in March 2024, when India unveiled a new Electric Vehicle policy aimed at attracting foreign investment with conditional tariff to a Ministry of Heavy Industries notification, companies willing to invest a minimum of ₹4,150 crore (roughly $500 million) to build local manufacturing units would be allowed to import up to 8,000 EVs per year at a reduced 15% customs duty, down from 70–100%.To qualify, vehicles must cost at least $35,000, and companies must begin local production within three years of approval. They must also meet localisation targets: 25% by year three, 50% by year showed some early interest but didn't follow through. 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