Trade Exports

Official data show Brazil remains biggest buyer as imports continue to dominate the sector

India is aiming to increase its share of global merchandise exports from about 1.8 per cent in 2024 to around 10 per cent by 2047, according to a World Trade Organisation (WTO) report. To promote exports, India maintained various duty exemption, remission, and rebate schemes. Export promotion is also emphasised in the Viksit Bharat vision, intended to help India sustain high long-term growth and boost competitiveness. "Under this vision, India aims to increase its share of global merchandise exports from about 1.8 per cent in 2024 to around 10 per cent by 2047," it said. The eighth review of the trade policies and practices of India takes place on July 21. It will also happen on July 23 in Geneva. Commerce Secretary Rajesh Agarwal is there for the meetings. The basis for the review is a report by the WTO Secretariat and a report by the Government of India. It also said that India's perspective on WTO reform is that reforms must be development-centred, consensus-based, and ...

Improved market access and zero tariffs under the India-UK trade agreement are expected to lift Indian pharmaceutical exports to over $980 million in FY27

The trade deficit widened sharply to $30.43 billion in June from $28.21 billion a month ago

India's exports to the West Asian region have "evened out" in June, as it has recorded a 7.29 per cent year-on-year growth to USD 5 billion, Commerce Secretary Rajesh Agrawal said on Monday. The shipments to the region had declined in March due to the US-Iran conflict, but improved in April and further in May. "Our exports to the Middle East have evened out," he told reporters here. The shipments in June 2025 were USD 4.67 billion. The country's exports to the UAE rose 3.57 per cent to USD 2.7 billion, but shipments to Saudi Arabia declined by 4.42 per cent to USD 768.56 million. On the other hand, imports from the UAE and Oman have registered a positive growth. But it dipped by 29.75 per cent from Saudi Arabia. Indian exporters are using three ports (Duqm, Sohar and Salalah) in Oman to push exports to the region. The US-Iran conflict has severely impacted the movement of ships carrying cargoes in international waters, particularly through the Strait of Hormuz. India normally ex

Speaking at the Board of Trade meeting at Vanijya Bhawan in New Delhi, Goyal said the target would require a sharp increase in both goods and services shipments

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

Uttar Pradesh is strengthening trade, technology and investment ties with BRICS nations, with the state's total exports to BRICS member and partner countries crossing USD 5.36 billion during the financial year 2025-26, the state government said on Friday. Addressing the BRICS MSME Forum held in Agra, UP MSME Minister Bhupendra Singh Chaudhary said the state has been exporting machinery, garments, leather, carpets and precious stones to several countries. According to a state government statement, out of the total exports, goods worth about USD 3.938 billion were exported to BRICS member countries, while exports worth USD 1.429 billion went to partner nations. The three-day BRICS MSME Forum in Agra was attended by representatives from BRICS countries along with MSME officials. Chaudhary said Uttar Pradesh's MSME sector has emerged as a major pillar of employment, innovation and economic growth, with around 96 lakh MSME units operating in the state and providing employment to about 1

Despite global trade disruptions stemming from the West Asia conflict and the imposition of US tariffs, India's exports reached a record high of USD 863 billion in Financial Year 2025-26, a senior Commerce Ministry official said on Wednesday. "This has been a very difficult year, from US tariffs to West Asia crises, but despite that, we have proved that India is very resilient as far as the export ecosystem is concerned. India's total exports reached an all-time high of USD 863 billion in FY 2025-26," said Additional Secretary in the Department of Commerce, Ajay Bhadoo. Bhadoo was speaking at the Outreach Programme: 12 years of achievements and progress of SEZs of Gujarat & vision of future" in Ahmedabad. He said India's overall exports have nearly doubled from approximately USD 441 billion to USD 863 billion over the last decade, led by sectors such as engineering goods, petroleum products, electronics, pharmaceuticals, gems & jewellery, and chemicals. He added that Gujarat ..

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 18 per cent growth in the country's merchandise exports reflects the increasing integration of Indian companies into global value chains and the diversification of export markets, experts said on Tuesday. India's exports climbed to a six-month high of 18 per cent to USD 45.2 billion in May, while the trade deficit widened to USD 28.21 billion, driven by increased imports of petroleum products amid higher crude oil prices. The increase in the outbound shipments is a reflection of the growing competitiveness of Indian industry and the confidence that global markets continue to place in Indian products, Sanjay Budhia, CII's Co-chair National Committee on Exports and MD, Patton International Ltd, said. He said that the healthy growth in exports during the first two months of 2026-27 also highlights the increasing integration of Indian enterprises into global value chains and their ability to respond to evolving international demand. During April-May 2026-27, exports rose 16.09 per

The country's merchandise exports rose 18 per cent to USD 45.2 billion, according to the commerce ministry data. Imports, too, grew 20.62 per cent to USD 73.41 billion in May, leaving a trade deficit of USD 28.21 billion. India's merchandise exports rose to USD 88.91 billion during April-May 2026-27, marking a 16.09 per cent growth over the corresponding period last year. India's exports to West Asia in May was marginally down at USD 5.30 billion against USD 5.38 billion in May 2025, Commerce Secretary Rajesh Agrawal said.

Western nations facing shortages are reconsidering sanctions on fuels made from Russian crude oil

India's next priority on the free trade agreement (FTA) front should be practical implementation and helping exporters use these pacts, as the gap between the negotiated and used market access remains the country's weakest link, experts say. They said that historically, India's FTA utilisation has hovered around 25 per cent, compared with 70-80 per cent in developed economies, and closing this gap is now the single highest-leverage trade policy reform available. The immediate priority should be to ensure that these negotiated benefits translate into actual claims at the border, they added. "Hence, India's next FTA priority should be practical implementation, helping exporters use the agreements, defend against new trade barriers, and convert market access into sustained export growth," Gulzar Didwania, Partner, Deloitte India, said. India has so far implemented several trade pacts, including those with Singapore, Japan, Korea, the UAE, Australia, ASEAN, and the EFTA bloc. It has a

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

The country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday. Imports grew 10 per cent year-on-year to USD 71.94 billion in April. Trade deficit during the month stood at USD 28.38 billion. Agrawal said India's exports to West Asia declined 28 per cent to USD 4.16 billion last month as against USD 5.78 billion in April 2025. Imports from the region dipped 31.64 per cent to USD 10.47 billion in April from USD 15.32 billion in the year-ago period.

ICEMA executives cautioned that the ongoing conflict in West Asia and disruption around the Strait of Hormuz could continue to create short-term challenges for the industry

West Asia conflict weakened trade in March, with India's merchandise exports falling 7.4 per cent year-on-year and 24 of 30 major export categories declining

India, the world's largest wheat producer after China, has allowed exports of the grain this year, lifting a ban on overseas sales imposed in 2022

India's textile exports, including those of handicrafts, increased by 2.1 per cent to Rs 3.16 lakh crore in the financial year ended March 2026 from Rs 3.09 lakh crore a year ago, the textile ministry said on Wednesday. The growth comes despite the sector facing steep tariffs imposed by the US, its largest export destination, for most of the financial year. The reciprocal tariff regime began with 10 per cent on April 2, 2025 and was rapidly escalated. Rates for India rose to 25 per cent by August 7, 2025 and to 50 per cent by August 28, remaining at that level until early February 2026. Following the US Supreme Court's decision against the sweeping tariffs imposed by President Donald Trump on a number of countries, the Trump administration imposed a 10 per cent tariff on all countries from February 24 for 150 days. This performance reflects steady global demand for Indian textile products and the continued competitiveness of the sector across major product categories, the textile .