How it Works
Tech layoffs 2025: The biggest job cuts in Silicon Valley and beyond
'I called up the Tatas...': Piyush Goyal reveals govt outreach to aid exporters amid tariff turbulence
Reacting to concerns about exporters' diminishing international margins, Piyush Goyal said the recent sharp cut in Goods and Services Tax (GST) rates had come at the right time.
The minister revealed that he has already reached out to major retail players to absorb exporter stock.
Union Commerce and Industry Minister Piyush Goyal on Thursday assured that the government is stepping in to ease the short-term pain faced by exporters grappling with ongoing tariff turbulence.
Speaking in an exclusive interview with Network18 Group Editor-in-Chief Rahul Joshi, Goyal outlined the Centre's efforts to connect struggling exporters with India's retail ecosystem.
Read More: US tariff hike: 'Working on reforms to enable exporters to tap domestic buyers', says Piyush Goyal
Reacting to concerns about exporters' diminishing international margins, Goyal said the recent sharp cut in Goods and Services Tax (GST) rates had come at the right time. "The timing of the GST reduction at such massive levels couldn't have been better. This will give a big impetus to domestic demand, which will help some of the exporters who may lose a part of their business," he said.
He also revealed that he has personally reached out to retail leaders. "When I recognized that the garment industry could face some stress, I called up the Tatas, who run Zudio and Westside. I’m going to be talking to all other high-street malls or large retail outlets to see if they can help these garment exporters by buying their produce and making it available at affordable prices," Goyal said.
Responding to queries on whether the Centre would remove restrictions on exporters selling within India, Goyal was categorical, "Absolutely, we are trying to make it easier so that they can supply in the domestic market. It's part of one of the reforms we are working on."
SPOTLIGHT
The leaders highlighted how AI is emerging as a critical enabler in this shift from marketing’s traditional focus on new customers to a more sustainable model of driving growth from existing accounts.
Read MoreExplained: What the Online Gaming Bill means for the industry, users and platforms
The Online Gaming Bill 2025 imposes severe penalties, allows warrantless search and seizure, and empowers a central authority to regulate the digital gaming ecosystem. It is expected to disrupt platforms, payment systems, and advertising in the sector. Here's all you need to know about the bill.