Piyush Goyal Current Affairs - 2019
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The 9th BRICS Trade Ministers Meet was held in Brasilia, Brazil. It was attended by Union Minister Commerce and Industry Piyush Goyal, during which he deliberated on global economic climate with his counterparts from other member nations.
Key Deliberations at Meet
The global economic outlook is facing grave challenges amidst growing protectionism and rising trade tensions manifested in unilateral measures, therefore, Trade and Investment cooperation between BRICS nations must be advanced.
Growing trend of non-tariff barriers (NTBs) which deny market access is leading to economic uncertainty as well as raising the cost of doing trade for developing countries especially Ministry of Micro, Small and Medium Enterprises (MSMEs). Thus it is important to preserve rules-based trading system and adequate low-cost finance to provide sustainability for MSME. A win-win mindset is also needed from all concerned countries to spur trade & promote equity.
The need of the hour is to develop digital infrastructure, digital skills and institutions particularly in developing and less developed world.
With a view to balanced and equitable outcomes, the BRICS member countries must look at ways and means to increase cooperation amongst themselves across all modes of services.
What is BRICS?
It is an abbreviation for an association of 5 major emerging national economies, namely- Brazil, Russia, India, China and South Africa. The association was founded in 2006 and was originally grouped as first four as “BRIC”, before South Africa joined it in 2010. The BRICS countries comprises of 42% of the world’s population, having 23% of global GDP.
Tags: BRICS • BRICS Trade Ministers Meet • MSMEs • Non-Tariff Barriers • Piyush Goyal
The State Government of Himachal Pradesh is organizing Rising Himachal Global Investors’ Meet 2019, a flagship business event, at Dharamshala on 7 -8 November 2019. The event will be attended by diplomats, leaders from senior policy makers, corporate sector development agencies and investors from across the globe. The event will also be attended by Union Commerce and Industry and Railway Minister, Piyush Goyal, who will highlight about government investment and policies for promoting investment in Himachal Pradesh and hill states of India.
About Rising Himachal Global Investors’ Meet 2019
The Global Meet will showcase investment opportunities and policy & regulatory environment in 8 focus sectors for boosting manufacturing and employment generation in Himalayan State. These 8 focus sectors include- (1) agri-business and post-harvest technology, (2) housing and urban development, (3) manufacturing and pharmaceuticals, (4) civil aviation, hydro and renewable energy, (5) wellness, tourism and hospitality, (6) healthcare and AYUSH, (7) IT-ITeS and electronics, (8) education and skill development.
The Rising Himachal Summit is promoted by Invest India, the National Investment Promotion and Facilitation Agency through the India Investment Grid (IIG), a Union government’s initiative to showcase investment opportunities across states and sectors in India on a single interactive platform. Invest India under the Union Ministry of Commerce and Industry, helps investors looking for options and investment opportunities in India.
During the two days Global Investors’ Meet there will also be a session on ‘Growing economic ties between Invest India and United Arab Emirates (UAE)’.