India Imports

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

India has initiated a probe against imports of subsidised Chinese and Indonesian paperboards as it is allegedly impacting domestic players, according to a notification. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) has started the exercise following a complaint filed by Indian Paper Manufacturers' Association on behalf of the domestic industry. The applicant has alleged that exports of multi-layer paperboards by Chinese and Indonesian firms, which is subsidised by the respective countries, are hurting margins of Indian companies. They have requested for initiation of an anti-subsidy or countervailing investigation on imports of boards originating in or exported from these two countries. The applicant has alleged that the producers/exporters in these two nations have benefited from the subsidies provided at various levels by their respective governments in the form of grants, loans, guarantees, taxes, export credits, goods and services, or ..

Despite policy push and diversification, India's rising oil and gas import dependence is exposed by the Strait of Hormuz crisis, underscoring gaps in domestic production and energy transition

Imports grew 24% in February to $63.71 billion, due to gold and silver imports, according to data released by the commerce department on Monday

India imported 21.24 lakh tonne of urea from China between April 2025 and February 2026, the highest in three years, even as total fertiliser imports from China and Russia rose sharply this fiscal year, as per the government data placed before Parliament on Friday. In a written reply to the Lok Sabha, Minister of State for Fertilisers Anupriya Patel said that India had sourced fertilisers from both countries, with Chinese urea imports dramatically outpacing the 0.99 lakh tonne recorded in the full fiscal year 2024-25 and also exceeding 18.65 lakh tonne in 2023-24 and 12.80 lakh tonne in 2022-23. Beyond urea, India imported 5.11 lakh tonne of Di Ammonium Phosphate (DAP), 0.28 lakh tonne of Muriate of Potash (MoP) and 9.61 lakh tonne of NPK fertiliser from China between April 2025 and February 2026, bringing total phosphatic and potassic imports to 15 lakh tonne. Urea imports from Moscow stood at 13.99 lakh tonne till February, already higher than the 9.23 lakh tonne imported in ...

Retail edible oil prices begin to rise as global palm and soybean oil rates climb alongside crude oil amid the West Asia crisis

Addressing concerns over supply chain vulnerabilities, the government has successfully reduced its reliance on the volatile Strait of Hormuz by diversifying its import routes

A major proportion of India's crude oil imports flows through the Strait of Hormuz, which remains an important trade point in the Gulf