Moneycontrol Podcast 4793: Piyush Goyal interview: GST reforms & tariff wars, Phone Pe IPO & Starlink trial run
Sep 4, 2025
Union Commerce Minister Piyush Goyal discusses landmark GST reforms and the impact of tariff wars on India-US relations. The conversation also highlights PhonePe's upcoming IPO and the trial run of Starlink, showcasing the latest in tech advancements. Additionally, there's insight into incentives for India's largest printed circuit board plant and the upskilling initiatives for employees in Indian GCCs to adapt to AI advancements.
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India-US Ties Will Outlast Tariff Noise
- Piyush Goyal says India-US ties are the most consequential in the world and tariff tensions will pass.
- He argues India's economy is largely domestic-driven so tariff shocks have limited long-term impact.
GST Reform Will Spur Growth And Jobs
- Goyal says GST reforms will boost the economy and create jobs while GST revenues rise.
- He adds the government will help exporters hit by tariffs to sell goods domestically.
Markets Reacted To GST Rate Rationalization
- Markets initially rallied on reform rumors but then gave up gains after GST rate rationalization was announced.
- The GST cuts affect cars, TVs, ACs, cement and many household goods, aiming to spur consumption from Sept 22.