India Trade

With India's trade pacts set to provide preferential access to its goods and services in countries with a combined GDP of USD 85 trillion in the coming years, the industry should look beyond the huge domestic market and step out of its comfort zone to expand globally, Union Minister Piyush Goyal said on Friday. He said that before 2014, India had implemented free trade agreements (FTAs) with countries having an aggregate GDP of USD 10 trillion. In the last four and a half years, the government has entered into nine trade pacts which covered 38 developed countries, having a GDP of USD 60 trillion. India is now negotiating seven to eight more agreements, which will add another USD 15 trillion, where India will get preferential access for its goods and services, the commerce and industry minister said at the 4th Edition Festival of Ideas here. Together, all these trade agreements cover markets accounting for about 76 per cent of global GDP, or "USD 85 trillion out of the world's total

India and SACU are both developing economies, with overlapping interests in some sectors and potential complementarities in others

Along with other middle powers, India must step up to revive the WTO and help reshape its rules in the interests of the Global South

Laghu Udyog Bharati says smaller firms need marketing, technology and export support to tap new markets and benefit from India's expanding network of free trade agreements

The meeting comes amid US tariff threats and a Section 301 probe, while New Delhi and Washington remain engaged in negotiations to finalise their bilateral trade deal

The India-Nepal Inter-Governmental Sub-Committee (IGSC) on Trade, Transit and Cooperation to Control Unauthorised Trade was held here on September 16-17, 2026

WTO review exposes trade concerns among BRICS partners, with China, Indonesia and Brazil seeking greater predictability and fewer barriers in India's trade regime

PM Modi begins Indonesia, Australia and New Zealand tour as India seeks stronger trade and investment ties despite weak FY26 trade and FDI numbers

Let us hope that 2026-27 will remind us of 1991-92, when economic policy shifted from increased foreign and domestic borrowing to implementing serious policy reforms

The rise in e-way bill generation points to sustained domestic trade activity, stronger supply-chain movement and continued compliance under the GST regime

Government may temporarily scrap cotton import duty from July to October as textile mills seek relief amid soaring prices and supply concerns

Prime Minister Narendra Modi landed in Sweden on Sunday, where he will hold talks on trade, technology, defence and other key sectors. The prime minister's aircraft was escorted by Swedish Air Force jets while landing in Gothenburg. He was given a warm welcome at the airport by his Swedish counterpart Ulf Kristersson. "I will be meeting Prime Minister Kristersson with the aim of advancing the India-Sweden friendship in trade, investments, innovation, defence and more," Modi said in a social media post. He further said, "With PM Kristersson and President of the European Commission, Ms. Ursula von der Leyen, I will be meeting European business leaders at the European Business Round Table for Industry. This will also deepen investment linkages between India and Europe." Modi's two-day Sweden tour will focus on exploring new avenues of cooperation to enhance bilateral trade, which reached USD 7.75 billion in 2025. The two sides are also set to focus on boosting ties in areas of green

India and South Korea are expected to hold negotiations on May 25 regarding the review of the comprehensive economic partnership agreement (CEPA), which was implemented in January 2010, an official said. The deliberations are important as India has suggested Korea to consider negotiating a fresh bilateral trade agreement to make it more contemporary and address concerns of the trade deficit. "The officials of the two countries are meeting on May 25 for the FTA review," the official said. Last month, in a bilateral meeting here, Commerce and Industry Minister Piyush Goyal made the suggestion to negotiate a fresh FTA to his Korean counterpart Yeo Han-koo. The minister, on multiple occasions, flagged India's concerns over the widening trade deficit between the two countries. India's exports to Korea declined 9.3 per cent to USD 5.81 billion in 2024-25 from USD 6.41 billion in 2023-24. Imports fell marginally by 0.34 per cent to USD 21 billion in 2024-25, leaving a trade deficit of US

With the US, while negotiations have restarted, there are several factors that will continue to cast a shadow of uncertainty on outcomes

India has already concluded nine FTAs that provide preferential access to nearly two-thirds of the global economy and global trade, covering 38 developed and prosperous countries

Unlike trade in goods, where tariffs dominate, services face regulatory and structural barriers like data-localisation rules, licensing requirements, restrictions on foreign ownership, and compliance

India is following a diversified strategy to boost exports to China by strengthening domestic capacities while reducing import dependence through diversification of its supplier base, as complete decoupling from Beijing is difficult since Chinese inputs support the country's industrial growth, a senior official said. "While India may not have hard decoupling from China, it is creating its own capacity both in terms of having resilient supply chain and also in terms of increasing our own exports capacity," the official said. The senior government official added that India primarily imports raw materials, intermediate and capital goods, such as auto components, electronic parts and assemblies, mobile phone components, machinery and related parts, and active pharmaceutical ingredients, which are used to produce finished goods for export and support domestic manufacturing. "Whatever China is supplying is the backbone of India's production. Some consumer durables are also coming but are

Goods shipments in March at 1-year high, imports dip

An immediate instinct is to turn inwards and seek self-reliance. But the world, and certainly India, is too dependent on other countries for that to be an effective strategy

China has overtaken the US to emerge as India's largest trading partner in 2025-26, with bilateral trade reaching USD 151.1 billion, while the country's trade deficit with Beijing widened to USD 112.16 billion during the period, government data showed. The US was India's largest trading partner for four consecutive years till 2024-25. India's exports to China rose 36.66 per cent to USD 19.47 billion during the last fiscal year, while imports increased 16 per cent to USD 131.63 billion. The trade deficit swelled to an all-time high of USD 112.6 billion in 2025-26 as against USD 99.2 billion in 2024-25. On the other hand, the country's outbound shipments to the US grew marginally 0.92 per cent to USD 87.3 billion during the last fiscal year, while imports increased 15.95 per cent to USD 52.9 billion. The trade surplus declined to USD 34.4 billion in 2025-26 from USD 40.89 billion in 2024-25. According to commerce ministry data, China was India's top trading partner from 2013-14 till