India Imports

India imported memory chips worth $6.79 billion in FY26, 53.41 per cent more than in FY25

India has imposed an anti-dumping duty for five years on a chemical, used in the rubber and tyre industries, imported from China, the European Union and the US. According to a notification of the finance ministry, the duty was imposed following a recommendation for the same by the commerce ministry's arm, the Directorate General of Trade Remedies (DGTR). The duty ranges between USD 75 per tonne and USD 1748 per tonne. "The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier)," the notification, dated June 19, said. The DGTR has recommended the duty on the imports of 'Sulphenamides Accelerators' from the three regions, as it has been exported at a price below the normal value in Indian markets, which has resulted in dumping and material injury to the domestic industry here. India has also extended the levy of anti-dumping duty on 'Aluminium Foil imported from China, Malaysia, Thailand and ...

The government is likely to take a call on extending import duty exemption on about 40 products beyond June 30, after analysing the evolving situation in West Asia and associated revenue implications, an official said on Thursday. To safeguard the domestic industry from supply chain disruptions, the government in a "temporary and targeted relief" had exempted import of critical petrochemical products from customs duty effective April 2. Customs duty was cut to 'nil' across 40 different products, including Anhydrous Ammonia, Toluene, Styrene, Vinyl chloride monomer, and others. The duty exemption, which is valid till June 30, was intended to benefit sectors dependent on petrochemical feedstock and intermediates such as plastics, packaging, textiles, pharmaceuticals, chemicals, automotive components, other manufacturing segments. Officials said associated revenue consideration will have to be considered while deciding on whether the import duty exemption would be extended. "A decisi

India's trade balance turned favourable with several Asian and African economies in April-May, even as surpluses with traditional partners such as the US narrowed

The West Asia crisis affected India through higher oil prices, pressure on the rupee, weaker trade, rising aviation costs and inflation. Here's how the economy absorbed the shock

The USTR move comes as India and the US work through an interim trade pact, raising compliance questions for exporters in textiles, apparel and other supply chains

The chief negotiators of the US and India will begin four-day talks here on Monday on finalising the details of the interim trade pact, whose framework was agreed upon in February. The US team will be led by its chief negotiator Brendan Lynch. India's chief negotiator is Darpan Jain, who is an additional secretary in the Department of Commerce. The two sides are "proposed to finalise the details of the interim agreement and take forward the negotiations under the broader BTA on multiple areas such as market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment," the commerce ministry has said. On February 7, India and the US issued a joint statement finalising the contours or framework of the first phase of the bilateral trade agreement (BTA) or an interim trade agreement. Now, both sides will have to finalise the legal text for that deal. The framework reaffirmed the countries' commitment to the broader India-US BTA ...

Commerce Minister Piyush Goyal urged Indian industry to use upcoming FTAs to boost exports and avoid a surge in imports

Commerce and Industry Minister Piyush Goyal on Monday asked the industry to identify goods that can be manufactured in India to help reduce import dependence of those products. He also suggested increasing exports and buy goods manufactured in India, rather than importing them. Addressing domestic traders, he said, "You should keep an eye on what goods are being imported, you will see opportunities in that too, what things can be manufactured in India." Goyal urged stakeholders to study import trends through the commerce ministry's trade portal and identify opportunities for domestic manufacturing and import substitution. The minister said despite global economic uncertainties, triggered by Russia-Ukraine and West Asia crisis, India's exports rose about 5 per cent to USD 863.11 billion in 2025-26. "This year's target is USD 1 trillion. This is a big target. We have to work together for this," Goyal said, adding that the industry should focus on quality, improving competitiveness a

The Export-Import Bank of India is aiming for a 10 per cent jump in its loan book in the financial year 2026-27, despite the West Asia conflict, a top official has said. The city-headquartered lender, which supports Indian exporters, is aiming for 10 per cent credit growth in the new fiscal, its managing director and chief executive Harsha Bangari said. The FY27 loan growth number is lower than the 12 per cent growth it achieved in FY26, but currency fluctuation had a significant role in lifting the number. "Fifty-eight per cent of our loan book is foreign currency-denominated, while the rest is in rupees. The currency fluctuations had a positive impact of up to 5 per cent on the FY26 loan growth number," Bangari told PTI. The 10 per cent growth in the loan book in FY27 is aimed at on a constant-currency basis, she clarified. The bank sees continued demand for financing from exporters, she said, adding that going forward, she expects the share of rupee loans to rise further. A bu

Merchandise imports also grew 10 per cent to $71.94 billion in the first month of the financial year

As India raises gold import duty to curb rising imports, experts warn higher taxes alone may not cut demand and could revive smuggling, hurting formal jewellers and limiting CAD gains

India is the world's second-largest gold consumer, and more than 90 per cent of its demand is met through imports

Authorised by the RBI, the order permits 15 banks, including the State Bank of India, HDFC Bank, and Bank of India, to import both gold and silver from April 1, 2026, to March 31, 2029

India's state-run refiners sharply increased Russian crude purchases in March amid supply disruptions, aided by a US waiver, even as overall crude imports declined

NAAS has proposed steps to reduce India's rising dependence on imported fruits and spices and boost exports through improved crop varieties, stronger traceability and better market linkages

India's edible oils imports rose 12 per cent annually to 11.73 lakh tonne in March on higher shipments of crude palm oil, and the imports may be subdued in coming months due to firm global prices and high freight cost amid the West Asia conflict, according to industry body SEA. In a statement on Monday, the Solvent Extractors' Association of India (SEA) said imports of edible oils increased to 11,73,168 tonne in March from 10,45,281 tonne in the year-ago period. As per the SEA data, imports of crude palm oil surged to 6,73,965 tonne last month from 3,43,949 tonne in March 2025. Non-edible oil imports fell to 13,401 tonne from 27,742 tonne. Imports of vegetable oils (including both edible and non-edible) increased 11 per cent to 11,86,569 tonne last month from 10,73,023 tonne in March 2025. India imports palm oil from Indonesia and Malaysia while soyabean oil is sourced from Argentina and Brazil. The country meets more than half of its domestic demand through imports. During the f

The commerce ministry on Friday said it will set up a weekly monitoring mechanism to track export-import trends and sectoral stress indicators amid concerns that supply chain disruptions, logistics constraints, and rising input costs due to geopolitical tensions could impact industries. The concerns and challenges of the exporting community with regard to the rising cost of packaging material and disruptions in the ship movement in international waters, particularly to the West Asia region, were discussed in two separate meetings on March 9 here. The meeting, chaired by Commerce Secretary Rajesh Agrawal, focused on challenges arising from disruptions in packaging materials and associated inputs. It was observed that the ongoing geopolitical developments can impact the availability and pricing of key petrochemical inputs, such as polymers and resins, leading to increased costs for packaging materials across sectors. Industry participants highlighted the increase in prices of critica

Absolute confiscation vests goods with govt but disposal may include auction, sale or destruction; overvaluation attracts penalties under customs act, while GST export lapses trigger tax liability

Under the relaxation of the rules, India's largest state-run power equipment maker Bharat Heavy Electricals can procure 21 types of critical equipment from China, the government order said