Indian companies must explore projects in Europe, US: Piyush Goyal

09 May 2022 CW Team

Minister of Commerce and Industry, Piyush Goyal, said that Indian companies must explore engineering and construction projects in developed nations like the US to have a lower risk option and gives a better rating.

He added that the project also includes the export of engineering consultancy.

During an event organised by the Export-Import Bank of India (EXIM), he said that Indian firms should not necessarily focus only on projects with government funding or lines of credit from the government, which are third world, backward or less developed countries. The projects in Europe or US have much lower risk, with better pricing. It will lower the capital requirements with a high credit rating for projects in developed countries.

According to Goyal, Exim Bank can conduct a study based on the restrictions in developed countries, how can access of Indian companies in project exports be improved, and what are the government restrictions, among others. Besides, the market access problems for project exports could be addressed by the government through the free trade agreements that India is currently negotiating and gearing up.

The minister said that despite challenges for international trade from Omicron, supply chain disruptions, and geopolitical conflicts, including the Russia-Ukraine war, international trade had been complicated. However, India exported goods worth $38 billion in April this year.

Image Source

Also read: India signs a free trade pact for duty-free exports to the Emirates

Infrastructure Transport

06 Feb 2026

Second Mountain Tunnel Breakthrough in Palghar Advances High Speed Rail

The Mumbai-Ahmedabad high speed rail (MAHSR) project reached a milestone with the breakthrough of a mountain tunnel in Palghar, Maharashtra. Mountain tunnel MT-six measures 454 metres long and 14.4 metres wide and will accommodate up and down tracks. The breakthrough follows MT-five near Saphale on second January 2026 and the MT-six excavation was completed from both ends using the New Austrian Tunnelling Method. The ministry reported that the tunnelling was completed within 12 months. The New Austrian Tunnelling Method is favoured for its flexibility in complex geology and irregular tunnel s..

Modi Government Pushes Atmanirbhar Container Drive With BCSL MoU

The Union Government advanced a plan to create an integrated, domestically anchored container ecosystem with the signing of a Memorandum of Understanding to establish the Bharat Container Shipping Line (BCSL). The MoU was signed by key agencies including the Shipping Corporation of India and Container Corporation of India alongside major port authorities and Sagarmala Finance Corporation Limited under the Ministry of Ports, Shipping and Waterways, in the presence of senior ministers. The initiative aligns with the Container Manufacturing Assistance Scheme announced in the Union Budget 2026–2..

Ministry Reports Gains In Mobility For Marginalised Communities

The Ministry of Social Justice and Empowerment is implementing skill development, education and rehabilitation schemes to promote socio-economic mobility and sustainable livelihoods for marginalised and disadvantaged communities across the country. Programmes target Scheduled Castes, Other Backward Classes, Economically Weaker Sections, De-notified Tribes and Safai Karamcharis through specialised implementing corporations and empanelled training institutes. Pradhan Mantri Dakshata Aur Kushalta Sampann Hitgrahi Yojana, or PM-DAKSH, provided skill training and placement support through the Nati..