India negotiating FTAs with 8-9 more blocs, aims to cover 75% of global trade: Piyush Goyal
India is actively pursuing free trade agreements with various nations, aiming to cover about 75% percent of the global trade landscape, Trade Minister Piyush Goyal said. With existing arrangements already covering an astounding $70 tn of the global economy, this expansion enhances India’s reputation as a reliable player in international value chains. Moreover, there are significant investment…
Commerce and Industry Minister Piyush Goyal announced on Tuesday that his government is developing a framework to exempt high-tech sector companies, such as those from Japan, from mandatory Bureau of Indian Standards (BIS) certification for equipment and components necessary to set up manufacturing facilities in India. The announcement came after Japanese companies expressed concerns over BIS certification requirements.
Goyal addressed Japanese firms representing semiconductors and AI sectors in India, emphasizing the government's commitment to supporting the Make in India initiative. The proposed framework could provide exemptions at various levels, including company, industry, product, or project-based exemptions. This move aims to ensure timely availability of equipment, goods, and services for high-tech firms setting up manufacturing operations in India, thereby supporting the government's push for sustainable growth in the electronics manufacturing sector.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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