[3] His mother was a three-time Bharatiya Janata Party (BJP) Member of Legislative Assembly (MLA) from Maharashtra and his father served as the Union Minister for shipping in the Third Vajpayee ministry from 2001 to 2003.

An active member of the Managing Committee of Indian Merchants Chamber, he is also involved with NGOs in diverse fields such as tribal education and welfare of the physically challenged (Jaipur Foot).

[10][11] Goyal became the Minister of State for Power, Coal, New and Renewable Energy in the Modi government in 2014 and undertook multiple initiatives in his term.

[13] He also worked for energy efficiency in the country through the Unnat Jyoti by Affordable Lighting for All (UJALA) scheme and reduced the prices of LED bulbs to ₹38 (44¢ US) per piece from ₹310 (US$3.60) in 2014.

[22][23] In all the mountain railways region of the country, Goyal introduced Vista-Dome coaches, in an attempt to allow the passengers to enjoy the scenery of the hilly terrains.

[24][25] On 27 February 2019, Piyush Goyal announced a Railway Zone for Andhra Pradesh named South Coast Railway with Waltair Division in Andhra Pradesh along with Guntur, Guntakal and Vijayawada Divisions with the headquarters of the zone being in Visakhapatnam, according to the AP Reorganisation Act 2014.

[36] He aims to discard restrictive States Government policies pertaining to License Raj, Land Permissions, Foreign Investment Proposals, and Environmental Clearances.

[37] In a bid to systematise the onboarding process of retailers on e-commerce platforms, Goyal directed the Department for Promotion of Industry and Internal Trade (DPIIT) to utilise the Open Network for Digital Commerce (ONDC) to set protocols for cataloging, vendor discovery and price discovery.

Goyal aims to provide equal opportunities to all marketplace players to make optimum use of the e-commerce ecosystem in the larger interest of the country and its citizen.

[40] In a bid to Atmanirbhar Bharat, Goyal launched One District One Product (ODOP) initiative to fuel the economic growth and generate employment within India.

[44] In July 2021, Goyal was appointed the Leader of the House in Rajya Sabha succeeding his colleague Thawar Chand Gehlot.

[45] After the demise of Ram Vilas Paswan, he took over the additional charge of the Ministry of Consumer Affairs Food & Public Distribution on 9 October 2020.

[46] He also emphasised that the procurement system at Minimum support price (MSP) will continue and Food Corporation of India (FCI) will be committed to serving farmers.

[48] At the 3rd Governing Council meeting of the Bureau of Indian Standards (BIS), Goyal directed to cut quality testing charges for MSMEs, Startups and Women Entrepreneurs.