Piyush Goyal Highlights Trade Progress & Upcoming GST Reforms At Global Investor Conference 2025

(MENAFN- KNN India) New Delhi, Sep 3 (KNN) Union Minister of Commerce and Industry Piyush Goyal addressed the 21st Annual Global Investor Conference 2025, emphasising India's capacity to transform difficult situations into growth opportunities.

On international trade, the minister referenced completed Free Trade Agreements with Mauritius, UAE, and Australia, alongside ongoing negotiations with the European Free Trade Association bloc, European Union, and United Kingdom.

Goyal indicated that discussions with the EU are progressing, with senior delegations conducting mutual visits.

He expressed optimism about concluding a bilateral trade agreement with the United States by November, following earlier discussions between the two nations' leadership.

Upcoming GST 2.0 reforms, expected in forthcoming GST Council meetings, are projected to enhance consumer sentiment and simplify compliance procedures.

The government has implemented significant reductions in corporate and personal tax rates, while the Reserve Bank of India reduced policy rates and Cash Reserve Ratio, maintaining inflation at 1.5 percent.

Goyal reiterated India's commitment to Atmanirbhar Bharat, clarifying that the initiative focuses on building resilient supply chains rather than restricting international engagement.

The government is promoting manufacturing in strategic sectors including drones, semiconductors, and CRGO steel, with increasing commitments from Indian industry and buyers toward domestic sourcing.

The minister urged industry participants to support energy efficiency and renewable energy initiatives, citing LED bulbs and 5-star appliances as examples.

(KNN Bureau)

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