Commerce and Industry Ministry

June 20, 2025 11:35 AM

DGFT imposes new restrictions on imports of precious metal alloys and compounds

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, has issued two new notifications aimed at regulating the import of certain precious metal alloys and chemical compounds. As per the notification issued on 17 June, the government has restricted the import of alloys of palladium, rhodium and iridium containing more than 1 % gold by weight. This expands the earlier restriction on platinum imports (issued on 5 March 2025) to cover the entire Customs Tarif...

April 17, 2025 1:23 PM

IMEC to slash logistics costs by 30%, transit time by 40%, says Piyush Goyal

The India-Middle East-Europe Economic Corridor (IMEC) is expected to reduce logistics costs by up to 30% and cut transportation time by 40%, Union Minister of Commerce and Industry Piyush Goyal said on Wednesday. The Minister was addressing the IMEC High-Level Roundtable on Connectivity and Economic Growth in New Delhi. Highlighting these figures, Goyal said IMEC is poised to become a transformative corridor for global trade, offering faster, more cost-effective, and sustainable connectivity be...

April 2, 2025 1:23 PM

GeM facilitates hiring of over 1 million resources in FY 2024-25, PM Modi lauds platform’s impact

The Government e-Marketplace (GeM) has achieved a significant milestone by facilitating the hiring of over 1 million manpower resources by government organizations in the current fiscal year (2024-25), according to the Ministry of Commerce & Industry. Recognizing GeM’s contribution to employment generation and economic growth, Prime Minister Narendra Modi commended the platform’s impact. Responding to a post by Union Minister Piyush Goyal on social media platform X, the Prime Minister s...

March 28, 2025 12:25 PM

90th Network Planning Group meeting evaluates key infrastructure projects under PM GatiShakti

The 90th meeting of the Network Planning Group (NPG) was held in Delhi on Thursday to assess key infrastructure projects in the Road, Railway, and Metro sectors. The discussion centred on advancing multimodal connectivity and improving logistics efficiency in line with the PM GatiShakti National Master Plan (PMGS NMP), as stated by the Ministry of Commerce & Industry. Five projects were reviewed during the meeting, including two road projects, two railway projects, and one metro project. Th...

March 18, 2025 11:36 AM

Government e marketplace surpasses Rs.5 lakh crore GMV ahead of FY 2024-25 year-end

The Government e-Marketplace (GeM) has reached a significant milestone by crossing Rs.5 lakh crore in Gross Merchandise Value (GMV), just weeks before the financial year 2024-25 concludes. This achievement underscores GeM’s rapid growth as a key platform for public procurement, benefiting over 1.6 lakh government entities across India. According to a statement from the Ministry of Commerce & Industry on Monday, the platform's growth has been particularly impressive, with the leap from Rs....

February 14, 2025 1:41 PM

WPI inflation slows to 2.31% in January as food prices ease

India's annual Wholesale Price Index (WPI) inflation eased to 2.31% in January 2025 from 2.37% in December 2024, according to data released by the Commerce and Industry Ministry on Friday. Month-over-month, the WPI declined by 0.45% in January, driven by lower food prices. The index for primary articles fell by 2.01% as food article prices dropped by 3.62%. However, prices of crude petroleum and natural gas (6.34%), non-food articles (0.66%), and minerals (0.22%) increased. Inflation in the fu...

January 16, 2025 12:38 PM

Startup India marks nine years: 1.59 lakh startups recognised, 16.6 lakh jobs created

India celebrates the ninth anniversary of the Startup India initiative on Thursday, a program that has transformed the country into the world’s third-largest startup ecosystem. Observed annually on January 16 as National Startup Day, the initiative has led to the recognition of 1.59 lakh startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15. It has also generated over 16.6 lakh direct jobs between 2016 and October 31, 2024. According to a statement ...

December 2, 2024 5:41 PM

Global south not to blame for environmental damage: Piyush Goyal

Commerce and Industry Minister Piyush Goyal, speaking at the inaugural session of the CII Partnership Summit 2024, on Monday, said that the Global South is not responsible for the environmental damage caused by the exploitation of low-cost energy by developed nations. Ministers and officials from countries such as Italy, Israel, Bhutan, Bahrain, Algeria, Nepal, Senegal, South Africa, Myanmar, Qatar, and Cambodia participated in the event. Goyal highlighted that each of the partne...