Latest news with #InternationalDevelopmentCooperationandForeignTrade
Business Standard
13-06-2025
- Business
- Business Standard
Piyush Goyal Advances India-Sweden Collaboration Through Comprehensive Government and Industry Dialogues
Union Minister of Commerce and Industry, Piyush Goyal has held a series of substantive engagements with senior members of the Swedish government and industry leaders on his two-day official visit to Stockholm. The visit aimed at further deepening the bilateral economic relationship, enhancing trade and investment flows, and exploring new avenues of cooperation in emerging sectors. In his official interactions, Goyal met with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, and Håkan Jevrell, State Secretary for Foreign Trade. Discussions focused on expanding the scope of India-Sweden trade and investment partnership, facilitating sustainable industrial collaboration, and identifying key areas for technology and innovation-driven growth. The 21st session of the India-Sweden Joint Commission for Economic, Industrial and Scientific Cooperation was held during the visit. The agenda included strategic cooperation in innovation and research and a roundtable discussion on strengthening the India-Sweden economic partnership. The meeting witnessed participation from key Swedish institutions.
India Gazette
12-06-2025
- Business
- India Gazette
Indian economy will grow eight fold by 2047: Piyush Goyal
ANI 12 Jun 2025, 12:38 GMT+10 Stockholm [Sweden], June 12 (ANI): Union Commerce and Industry Minister Piyush Goyal, during his three-day official visit to Sweden on Thursday, expressed confidence that the future lies in India and expects the country's economy to grow eight times by talking in Stockholm, Sweden, the minsters said, 'The opportunities, the skills, the potential, the demand, the decisive leadership that India has--seeing all this, even Swedish companies believe that the future lies in India.' He further added that, 'the economy, which will grow eightfold by 2047, everyone wants to benefit from that.'Piyush Goyal also addressed the ongoing India-EU Free Trade Agreement negotiations, conveying optimism regarding their said, 'We are very much on track to achieve that (FTA). More than half the chapters are ready - in terms of content, we are almost 90 per cent ready for market access. The important issue to be addressed between us is non-tariff barriers.'Recently, Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa, also said that a comprehensive free trade agreement between India and the European Union should tackle both tariff and non-tariff barriers to maximise benefits for both this week, Union minister Piyush Goyal said that with this FTA, India will be able to offer greater opportunities for FTA negotiations between the two sides are expected to conclude in 2025. India last month said the two sides engaged in a forward-looking and substantive dialogue to address global trade challenges and reaffirm their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of FTA between India and EU represents significant opportunity for both regions to reduce regulatory barriers that currently impede trade flows, while strengthening economic ties that could benefit both regions' long-term growth prospects. (ANI)
India Gazette
12-06-2025
- Business
- India Gazette
Indian economy will grow eight fold by 2047: Piyush Goel
ANI 12 Jun 2025, 11:36 GMT+10 Stockholm [Sweden], June 12 (ANI): Union Commerce and Industry Minister Piyush Goyal, during his three-day official visit to Sweden on Thursday, expressed confidence that the future lies in India and expects the country's economy to grow eight times by talking in Stockholm, Sweden, the minsters said, 'The opportunities, the skills, the potential, the demand, the decisive leadership that India has--seeing all this, even Swedish companies believe that the future lies in India.' He further added that, 'the economy, which will grow eightfold by 2047, everyone wants to benefit from that.'Piyush Goyal also addressed the ongoing India-EU Free Trade Agreement negotiations, conveying optimism regarding their said, 'We are very much on track to achieve that (FTA). More than half the chapters are ready - in terms of content, we are almost 90 per cent ready for market access. The important issue to be addressed between us is non-tariff barriers.'Recently, Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa, also said that a comprehensive free trade agreement between India and the European Union should tackle both tariff and non-tariff barriers to maximise benefits for both this week, Union minister Piyush Goyal said that with this FTA, India will be able to offer greater opportunities for FTA negotiations between the two sides are expected to conclude in 2025. India last month said the two sides engaged in a forward-looking and substantive dialogue to address global trade challenges and reaffirm their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of FTA between India and EU represents significant opportunity for both regions to reduce regulatory barriers that currently impede trade flows, while strengthening economic ties that could benefit both regions' long-term growth prospects. (ANI)
&w=3840&q=100)
Business Standard
11-06-2025
- Business
- Business Standard
Ikea plans to enhance sourcing from India to 50%: Swedish minister
Global home decor and furniture retailer IKEA has ambitions to increase sourcing from India to 50 per cent, Swedish trade minister Benjamin Dousa said on Wednesday. IKEA's sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items. Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa said that India is aiming to increase the share of manufacturing in the country's GDP and Sweden is a partner in this endeavour. "One example is IKEA that has communicated to their ambition to amplify sourcing locally from India to 50 per cent for its global operations from the current 30 per cent," he said here while addressing businesses of India and Sweden. Presently, Europe is IKEA's biggest supplier, followed by America and Asia, in which China leads. IKEA has been sourcing from India for the last five decades, though it started its retail operation in India in 2018 by opening its first store in Hyderabad, followed by Navi Mumbai and Bengaluru and several others such as Delhi NCR, are in the execution pipeline. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India Gazette
11-06-2025
- Business
- India Gazette
India, Sweden explore deeper trade ties in clean energy, tech and infrastructure
New Delhi [India], June 11 (ANI): Union Commerce and Industry Minister Piyush Goyal met with Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dousa and State Secretary for Foreign Trade Hakan Jevrell to discuss enhancing bilateral cooperation across key sectors. Leaders of both the countries explored opportunities in clean energy, digital technology, climate action, healthcare, life sciences, and skill development. In a post on social media platform X, Goyal said that he also invited greater Swedish participation in India's expanding infrastructure and manufacturing landscape, expressing optimism about deepening economic ties. 'Had a highly productive meeting with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, and Hakan Jevrell, State Secretary for Foreign Trade, Sweden, today,' he added. 'We discussed strengthening collaboration across sectors like clean energy, digital technology, climate, healthcare & life sciences, and skill development, among others. Invited greater Swedish participation in India's growing infrastructure and manufacturing sectors. Looking forward to unlocking new chapters of cooperation,' the Union Minister said in his X post. Before his trip to Sweden, Commerce Minister Piyush Goyal completed two-day visit to Switzerland. During his visit, Minister interacted with the business tycoons and CEOs of several companies. Goyal's discussions with the business delegates focused on how to best leverage the agreement to boost economic ties. Goyal also held a series of sectoral interactions with CEOs of several Swiss pharmaceutical and life sciences companies. Goyal also co-chaired a Business Roundtable on the Machinery, Electrical & Metal (MEM) Industry with Swiss Federal Councillor Guy Parmelin in Bern. After the conclusion of his Switzerland visit, Goyal indicated that the Swiss part of the EFTA will possibly be implemented from October 2025, with the other three countries -- Iceland, Liechtenstein, and Norway-- already having ratified the trade deal. Goyal highlighted India's 'remarkable transformation' over the past 11 years in terms of technology, innovation and how the country offers great avenues for doing business. He also encouraged Swiss industry and businesses to explore unparalleled opportunities for growth and investment in India, leveraging India's skilled and talented workforce and facilitative business ecosystem. (ANI)
