Commerce and trade minister Piyush Goyal Sunday mentioned that trade’s curiosity in India’s semiconductor sector is “phenomenal” and that firms like Micron and Foxconn are taking a look at numerous ranges of engagement.“It is process driven. These are things that don’t happen overnight…It’s not like somebody in my own state in Maharashtra some of the politicians who say I completely lost that government and that the project decided to shift to another neighboring states,” Goyal mentioned at an occasion organised by CareEdge Ratings.

Goyal mentioned: “Many companies, not only advanced technologies and Micron but many companies are already looking at different levels of engagement. Foxconn is looking at it in a different perspective. Vedanta is tying up with others. Tatas are getting active in that space,” he mentioned.

On tomato costs, which shot up above Rs 200 per kg in some components of the nation, he mentioned the costs have risen on this pre-monsoon interval.

“The government activated processes moved tomatoes from the producing areas to North India and which are not traditionally tomato growing and which are affected because of the heavy rains and floods in the hills, which we are all aware of. Nature has caused it,” Goyal, who can be shopper affairs minister, mentioned.

He mentioned the federal government is utilizing Artificial Intelligence to evaluate the value actions of various merchandise throughout the 12 months and startups are being engaged for that.

On spinning items in South India having stopped spinning for the final two weeks, Goyal mentioned the difficulty shouldn’t be solely about cotton costs as a result of they equate themselves.

“Internationally because of the recessionary trend that many market are facing, discretionary spending is down. Therefore, prices and demand are also down,” Goyal, who can be textiles minister, mentioned.