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Piyush Goyal

Piyush Goyal

Minister of Commerce and Industry of India

Appears in 3 stories

Born: 1964 (age 61 years), Mumbai, India
Office: Member of the Lok Sabha
Education: The Institute of Chartered Accountants of India (1987), Government Law College, Mumbai (1987), H.R. College of Commerce and Economics (1984), and more
Party: Bharatiya Janata Party
Previous offices: Leader of the House in Rajya Sabha (2021–2024), Minister of Textiles of India (2021–2024), Deputy Leader of Rajya Sabha (2019–2021), and more

Stories

India's workers and farmers unite against labor and trade reforms

Rule Changes

Union Commerce and Industry Minister - Defending government policies

India's Parliament passed four labor codes in 2020 that condensed 29 existing laws into a streamlined framework. Five years later, after the codes finally took effect in November 2025, approximately 300 million workers walked off the job on February 12, 2026—disrupting banking, transportation, and industry across more than 600 districts in what organizers called the largest coordinated labor action since the reforms began.

Updated Feb 12

US-India trade war ends with energy-for-tariffs deal

Rule Changes

Commerce and Industry Minister of India - Lead negotiator for Indian trade deals

India has been the world's second-largest buyer of Russian oil since 2022, snapping up discounted crude while Western nations sanctioned Moscow. On February 2, 2026, President Donald Trump announced that Prime Minister Narendra Modi had agreed to stop those purchases entirely in exchange for American tariff cuts from 50% to 18%, ending a trade war that had escalated for nearly a year. A US-India Joint Statement released around February 6-9 outlined an Interim Trade Agreement framework, confirming India's intent to purchase $500 billion in US energy, technology, aircraft, and coal over five years; tariff reductions/eliminations on US goods; and US suspension of the additional 25% Russian oil tariff effective February 7 via Executive Order. However, Modi has publicly confirmed only the tariff reduction, Indian refiners received no instructions to halt imports, and the deal lacks full binding enforcement amid shadow logistics risks.

Updated Feb 11

The EU-India free trade deal: racing toward a January finish

Rule Changes

India's Minister of Commerce and Industry - Announced FTA conclusion; expects implementation by end of 2026

After 19 years, 14 formal rounds, and a January sprint that defied skeptics, India and the European Union concluded their free trade agreement on January 26, 2026. EU leaders Ursula von der Leyen and António Costa, attending India's Republic Day as chief guests, jointly announced the deal with Prime Minister Narendra Modi on January 27. Von der Leyen called it 'the mother of all deals'—a pact creating a free trade zone of 2 billion people and a combined market of $27 trillion, representing 25% of global GDP. President Droupadi Murmu hailed the agreement in her January 28 address to Parliament, marking formal political ratification on both sides.

Updated Jan 28