Business
India in talks with 50 nations on fair trade deals: Piyush Goyal
New Delhi, Nov 28: Commerce and Industry Minister Piyush Goyal said on Friday that India is currently engaged in discussions on fair and balanced trade deals with 14 countries or groups representing nearly 50 nations, including the United States, the European Union, GCC countries, New Zealand, Israel, Eurasia, Canada, South Africa and the Mercosur group.
Addressing the annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) here, the minister underlined that balanced and equitable trade agreements have already been concluded with Australia, the UAE, Mauritius, the United Kingdom and the four-nation EFTA bloc.
Highlighting broader global developments, the minister said that recent geopolitical and economic challenges have underscored the need for trusted partners and resilient supply chains. He stated that India’s expanding network of free trade agreements (FTAs) and economic partnerships is aimed at building long-term cooperation anchored in fairness, transparency and mutual benefit.
Goyal said that the idea of self-reliance is central in India’s civilisational ethos, recalling references from the Bhagavad Gita and Mahatma Gandhi’s emphasis on Swadeshi. He said that self-reliance has historically guided India’s progress and continues to remain central to the country’s economic strategy. He added that this vision has been strengthened through the focus on Atmanirbhar Bharat under the leadership of Prime Minister Narendra Modi.
Referring to the recent EFTA agreement, the minister noted that the bloc has committed to invest $100 billion in India across innovation and precision manufacturing. He underscored India’s cost competitiveness in research and innovation, stating that high-quality innovation undertaken in India can be achieved at a fraction of the cost compared to Europe or the United States.
The Minister highlighted India’s strengths in innovation and technology, supported by a young demographic, increasing digital adoption and a growing talent pool. He said that India’s large number of STEM graduates and widespread internet access create strong potential in emerging areas such as applied artificial intelligence, automation, robotics and deep-tech innovation.
He noted that the recently announced $12 billion Research, Development and Innovation (RDI) fund, along with ongoing support to startups and deep-tech industries, will further accelerate India’s innovation ecosystem.
Goyal emphasised the importance of strengthening skilling to prepare India’s youth for future opportunities. He said that unlike many developed economies facing ageing populations, India’s youthful demographic is quick to adapt to emerging technologies and has already demonstrated high engagement with digital platforms. He added that this readiness positions India to play a major role in the global technology landscape.
The minister outlined India’s strengths through the ‘PESTLE’ framework, noting that Prime Minister Modi has consistently advanced the vision of self-reliance across sectors. He said that politically, a stable and predictable government committed to “Minimum Government, Maximum Governance” has enhanced investor confidence. In the economic domain, initiatives such as the National Manufacturing Mission and the Rs 25,000 crore Export Promotion Mission are supporting India’s rise towards becoming the world’s third-largest economy.
On the social front, he highlighted that the four Labour Codes ensure better wages and protections, while the Antyodaya approach has supported the fulfilment of basic needs.
In the technology sector, Goyal pointed to initiatives aimed at reducing external dependence, including the Semiconductor Mission (Rs 76,000 crore) and the Rs 7,000 crore programme for permanent magnet production, which strengthen domestic manufacturing and supply chain security. In the legal domain, he referred to ongoing reforms, including progress toward Jan Vishwas 3.0, designed to enhance ease of doing business.
He further noted that the ‘Atomic Energy Bill 2025’ marks a historic shift by opening up the nuclear sector to strengthen energy sovereignty.
The Minister urged FICCI to adopt a mission-driven approach to promoting innovation, deepening research and development, strengthening industry-academia linkages and supporting India’s journey towards becoming a developed nation by 2047.
Business
Customs duty on gold, silver, platinum tops Rs 10,460 crore since duty hike

New Delhi : The government has collected Rs 10,463 crore in customs duty from imports of gold, silver and platinum between May 13 and August 2 following the increase in import duties on the precious metals, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said customs duty collections during the period stood at Rs 10,040 crore on gold, Rs 328 crore on silver and Rs 95 crore on platinum.
The combined customs duty collection from the three precious metals thus amounted to Rs 10,463 crore during the period.
With effect from May 13, the government had increased the import duty on gold and silver to 15 per cent from 6 per cent, while the duty on platinum was raised to 15.4 per cent from 6.4 per cent.
Moreover, consequential changes were also made to duties on related items, including gold and silver dore, coins and findings.
Chaudhary said the government had taken the decision to curb discretionary imports and prioritise foreign exchange for essential imports such as crude oil, fertilisers, industrial raw materials and capital goods.
The duty hike came against the backdrop of rising global uncertainties, including the conflict in West Asia and the effective blockade of the Strait of Hormuz, which had pushed up prices of crude oil as well as food and fertiliser imports.
The minister also informed the House that enforcement agencies seized 161 kg of smuggled gold and arrested 116 persons between May 13 and June 30.
India is the world’s second-largest consumer of gold after China with imports largely driven by demand from the jewellery sector.
Gold imports account for a significant outflow of foreign exchange and are closely monitored by policymakers from a balance-of-payments perspective.
Business
TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.
After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.
In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.
The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.
Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.
The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.
TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.
The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.
“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.
Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.
Business
Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.
Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.
The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.
These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.
Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.
In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.
The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.
A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.
The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.
A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.
A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.
The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.
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