Piyush Goyal retains railways, promises reforms

Piyush Goyal in the Ministry of Railways on Friday. Pic/PTI

New Delhi: Piyush Goyal Friday took charge of the commerce and industry ministry at a time when global protectionism is rising at trade front and the need to push India's exports is pressing.

Goyal came to the ministry accompanied by former commerce minister Suresh Prabhu. "I have a lot to learn from my senior colleague Prabhu Ji. I would continue to take his guidance and support," he said.

Prabhu expressed confidence in Goyal and said officials and team in the ministry will work with him to push economic growth of the country. The new commerce minister will have several task at hand like pushing India's exports at a time when two large economies - the US and China - are engaged in trade war and other countries taking protectionist measures.

India's merchandise exports grew 9 per cent to $331 billion in 2018-19. But, foreign direct investment inflows into India declined for the first time in the past six years in 2018-19, falling by 1 per cent to $44.37 billion. Several new policies are there in the pipeline of the ministry.

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