ENA Sectors 2024-06-11 13:10:31 <p><span style="font-size:14px"><strong>New Delhi, Jun 11 (KNN)</strong> Bharatiya Janata Party leader Piyush Goyal has been reappointed as Cabinet Minister after winning the Mumbai North constituency in the recent elections.</span></p> <p><span style="font-size:14px">In the third term of Prime Minister Narendra Modi's government, Goyal will continue overseeing the Ministry of Commerce and Industry.</span></p> <p><span style="font-size:14px">However, he has had to relinquish other portfolios including Consumer Affairs, Food and Public Distribution, and Textiles that he handled previously.</span></p> <p><span style="font-size:14px">Goyal takes charge amid a 3.1 per cent decline in India's merchandise exports to USD 437 billion and a 3.5 per cent contraction in foreign direct investment inflows during 2023-24 due to global economic uncertainties.</span></p> <p><span style="font-size:14px">Over the past decade, the 59-year-old Goyal has overseen a diverse range of ministries including Power, Renewable Energy, Coal, Mines, and Railways under the first National Democratic Alliance government.</span></p> <p><span style="font-size:14px">In the second term, he was Minister for Commerce &amp; Industry, Textiles, Consumer Affairs, and Food &amp; Public Distribution.</span></p> <p><span style="font-size:14px">Inducted initially as Minister of State with Independent charge in 2014, Goyal was later elevated to Cabinet Minister rank.</span></p> <p><span style="font-size:14px">He briefly held additional charge of the Finance Ministry in 2018 and 2019 during the late Arun Jaitley's absence.</span></p> <p><span style="font-size:14px">A chartered accountant by profession who worked as an investment banker, Goyal led initiatives like India's first e-auction of coal mines for private commercial mining and a reform scheme for the power distribution sector during his previous tenures.</span></p> <p><span style="font-size:14px">Under his watch as Commerce Minister, India also signed free trade agreements with Australia, UAE and Mauritius, and managed an out-of-court settlement of trade disputes with the US at the World Trade Organisation.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38148 https://knnindia.co.in/news/newsdetails/sectors/cabinet-minister-piyush-goyal-takes-charge-amid-export-decline 2024-06-11 13:10:31 knnindia.co.in