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India Trade Policy
India on Monday invited the first round of applications for the allocation of 2026 import quotas for fully-built passenger cars and goods vehicles under the duty concession provisions of the India-UK free trade agreement. Under the India-UK Comprehensive Economic and Trade Agreement (CETA), which came into effect from July 15, New Delhi has allowed the import of a total of 3.78 lakh units of conventional-engine passenger cars, including those in the mass segment, from the UK at a concessional customs duty during the first 15 years of the implementation of the trade pact between the two countries. Under the pact, tariffs on automotive imports will fall from about 110 per cent to 10 per cent, with quotas on both sides. Importers seeking to import vehicles from the UK under the quota-based duty concessions (tariff rate quota - TRQ) provided under the agreement can submit their applications from July 21 to August 4, the directorate general of foreign trade (DGFT) said in a ...
An official delegation headed by Commerce Secretary Rajesh Agarwal will participate in India's eighth trade policy review meeting at the WTO, scheduled on July 21 and 23 in Geneva, a government statement said on Monday. The Trade Policy Review (TPR) is an important transparency mechanism under the WTO (World Trade Organization). It entails a comprehensive peer review of a member's trade policies, consisting of a multitude of border and behind-the-border measures, to enhance transparency, predictability and understanding in the WTO. These reviews are conducted by the Trade Policy Review Body, which comprises the entire membership of the WTO. The review is carried out on the basis of two principal documents a policy statement submitted by the member under review (called the Government Report) and a report prepared by the WTO Secretariat, which is circulated to all member countries. All WTO members are subject to review at regular intervals, although at varying frequencies, determin
India on Tuesday amended the foreign trade policy to prohibit the import of goods produced using forced labour. The announcement was important as the US Trade Representative (USTR) is carrying out an investigation under Section 301 of the Trade Act of 1974 against 60 countries, including India. It has alleged that the acts, policies, and practices of 60 economies related to the failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labour is unreasonable and burdens or restricts US commerce, and are thus actionable under Section 301(b) of the Trade Act. Here are the few questions and answers to under why "Forced Labour" is now at the centre of global trade: WHAT IS FORCED LABOUR? ------------------------------ As per the ILO (International Labour Organisation) Forced Labour Convention, 1930 (No. 29), 'Forced Labour' means all work or service which is exacted from any person under the menace of any penalty and for which the said pe
Negotiations for a trade agreement between India and the US are progressing well, and the framework deal is ready which will be signed at the right time, an official said on Monday. The official said that India is seeking a comparative advantage on the tariff front in the agreement vis-a-vis its competitor nations. "There was a very good discussion (with the US team). The framework deal is ready...whenever there is right time, it will be signed. We are negotiating a framework deal and a bilateral trade agreement (BTA), and both things are progressing well," the official said. Commerce and Industry Minister Piyush Goyal and US Trade Representative Jamieson Greer last month held bilateral talks on issues related to the first phase of the bilateral trade agreement here. Trade deals are all about preferential market access or comparative advantage. "So that is something which is getting structured, whenever it is ready, things will be signed. But we are on a safe way, our understandin
India is set to challenge the proposed US tariffs on exports with the US Trade Representative next week, contending that the findings on forced labour are legally flawed and would affect American businesses and consumers. Representatives from the commerce ministry as well as industry bodies, such as APEDA, FICCI, CII and ACMA, are scheduled to present India's counter to the USTR proposal to impose tariffs at a public hearing on July 8. India has already, in written submissions, said that the USTR's findings do not take into account the country's robust domestic legal regime reflecting a structured and progressive approach combining statutory prohibitions, institutional mechanisms, and ongoing policy measures aimed at reducing vulnerability to forced labour. In its counter to the proposed tariffs, the Confederation of Indian Industry (CII) has said India's policy framework does not qualify as 'unreasonable' or 'discriminatory' under Section 301(b) of the Trade Act of 1974. The CII al
The Board of Trade (BoT), chaired by Commerce and Industry Minister Piyush Goyal, is scheduled to meet on July 3 to leverage benefits from recent trade pacts and to discuss strategies for accelerating the country's exports, an official said. The BoT includes participants from various states, Union territories, and senior officials from the public and private sectors. In the meeting, representatives of export promotion councils, along with other participants, will present their views on the export sector. "The BoT is meeting on July 3 here," the official said. The last meeting of the board was held on November 25, 2025. The meeting is important as India has implemented five free trade agreements (FTAs) since 2021 with Mauritius, Australia, the UAE, Oman, and the four-nation European EFTA bloc. It has also signed a pact with the UK, which will come into force on July 15. The trade pact with the 27-nation EU is expected to be signed by the end of this year and may come into force ne
Early implementation of the free trade agreement (FTA), signed in December 2025 is likely to figure in the meeting of India and Oman on May 11 here, an official said. The agreement will provide duty-free access to 98 per cent of India's exports, including textiles, agri, and leather goods in Oman. On the other hand, India will reduce tariffs on Omanese products such as dates, marbles and petrochemical items. "Oman team is visiting here on May 11. India will try to push for early implementation of the FTA," the official said. Oman is an important strategic partner of Indian in the Middle East region and is a key gateway for Indian goods and services to the wider Middle East and Africa. Nearly 7 lakh Indian nationals reside in Oman. India receives about USD 2 billion remittances from Oman annually. This is the second trade deal of India with a GCC (Gulf Cooperation Council) member. India in May 2022 implemented a similar pact with the UAE and it is expected to soon start talks with
The US has listed India's preference for use of domestic satellites for direct-to-home (DTH) television services and localised shutdown of internet as a barrier to foreign trade. The 2026 National Trade Estimate Report on Foreign Trade Barriers released by the office of the US Trade Representative (USTR), also flagged that since 2021 American firms have been subject to increasing number of takedown requests for content and user accounts related to issues that appear "politically motivated". The report noted that localised internet shutdowns restrict access to information and services, disrupting commercial operations, and thereby undermining a free and open internet and impeding trade in the digital economy. "The United States continues to monitor the impact of these events on US trade and investment, including services exports," according to the report released on Tuesday. On satellite services, the report said the Ministry of Information and Broadcasting maintains a preference fo
Commerce and Industry Minister Piyush Goyal on Friday held a meeting with his Chinese counterpart Wang Wentao and discussed trade-related issues. The bilateral meeting was held on the sidelines of the 14th ministerial conference (MC14) in Yaounde, Cameroon. "Met Mr. Wang Wentao, Minister of Commerce of China, on the sidelines of the #WTOMC14. Exchanged views on the MC-14 agenda and discussed bilateral trade matters," Goyal said on a social media post. The meeting is important as India's trade deficit with China crossed USD 100 billion during the 11-month period of this fiscal year. During April-February 2025-26, the country's exports to China increased 37.66 per cent to USD 17.54 billion, while imports rose 15.21 per cent to USD 119.55 billion. Trade deficit has widened to USD 102.01 billion from USD 91.03 billion in April-February 2024-25.