India's Piyush Goyal announces faster approvals and simpler FDI rules
Business
India's commerce & industry minister Piyush Goyal just announced that the government will simplify rules and speed up approvals for foreign direct investment (FDI).
The goal? Attract more global investors, boost local manufacturing of specialty chemicals, and make setting up shop in India less of a hassle.
India exports jump 15% amid FTAs
Goyal also highlighted how India's free trade agreements are helping exports grow: Exports jumped 15% in the first quarter despite global challenges.
Talks are ongoing with countries like Canada, Chile, and Israel for new deals.
Plus, the government wants to diversify by building new trade routes on the eastern sides with pipelines and railways, so India isn't relying too much on any one market.