Commerce Ministry

West Asia crisis: Rice exports dip 7.5% to $11.53 billion in 2025-26

The country's rice exports dipped 7.5 per cent to USD 11.53 billion in 2025-26 due to a contraction in shipments to major destinations including the middle east countries, according to the commerce ministry data. The exports in March declined 15.36 per cent to USD 997.53 million. Shipments to middle east region nations, including Iran, UAE, Saudi Arabia and Oman have been impacted due to the war between US-Israel and Iran. Iran is India's top basmati rice export destination, but the shipments are witnessing growing stress on order flows, payment cycles, and ship schedules due to the prevailing instability. As per reports, importers have conveyed their inability to honour existing commitments and remit payments to India, creating uncertainty for exporters. In 2024-25, India exported 20.1 million tonnes of rice valued at USD 12.5 billion, reaching more than 172 countries. India is one of the world's largest producers and exporters of rice. It produced around 150 million tonnes of r

Datanomics: Overdependence on China, US plagues India's pharma sector

Govt urges pharma firms to cut import reliance, boost domestic production and diversify exports as data shows rising foreign value addition and heavy dependence on China and the US

Ficci appoints Anant Swarup as Secretary General with immediate effect

The Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday said it has appointed Anant Swarup as its Secretary General with immediate effect. His appointment strengthens FICCI's senior leadership, with Jyoti Vij continuing to serve as Director General, a statement from FICCI said. Swarup has over three decades of experience in public policy, trade remedies, logistics, regulatory reform, and international negotiations, having served in various leadership positions across the central government and recently, in the private sector. A 1992-batch Indian Railway Personnel Service (IRPS) officer, Swarup has served as Additional Secretary in Department of Commerce and Director General of Trade Remedies; Executive Director to the Union Minister of Railways, and First Secretary representing India at the World Trade Organization (WTO) in Geneva. He holds a Masters' Certificate in Sustainable Infrastructure and Finance and degrees of MBA, LLB, and MSc.

Parliament passes Jan Vishwas Amendment Bill to amend 784 provisions

Parliament on Thursday passed a bill to amend 784 provisions in 79 central laws for decriminalising and rationalising minor offences to further improve the country's business environment. The Jan Vishwas (Amendment of Provisions) Bill, 2026, was passed in the Rajya Sabha with a voice vote after Commerce and Industry Minister Piyush Goyal replied to a discussion on the legislation. The minister said the legislation will help citizens and MSMEs. The bill was passed by the Lok Sabha on Wednesday. These laws are administered by 23 ministries, including coal, commerce and industry, shipping, urban development, and transport. Out of 784, 717 provisions are being amended for decriminalising minor offences and 67 to facilitate ease of living.

RoDTEP benefits for exporters extended till Sep 30 amid Iran crisis

The government has extended fiscal benefits under the RoDTEP scheme for exporters by six months, until September 30, amid disruptions to global trade caused by the ongoing West Asia crisis. The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and not being reimbursed under any other mechanism at the Centre, state or local level. Refunds under the scheme range from 0.3 per cent to 3.9 per cent. The scheme was valid till March 31, this year. "Eligible exports made during the period from April 1 to Sep 30, 2026 shall continue to be entitled to RoDTEP benefit at the rates and value caps in force as on March 31, subject to the existing terms and conditions of the scheme," the Directorate General of Foreign Trade (DGFT) has said in a notification. The budget allocation under the scheme for 2025-26 was Rs 18,232 ..

DGTR recommends anti-dumping duty on rayon yarn imports from China

DGTR recommended anti-dumping duties on viscose rayon filament yarn above 75 deniers imported from China, a type of man-made fibre widely used ‌in textiles

India, US set to clash on WTO reforms ahead of 14th ministerial meeting

India and the US are set to clash over WTO reforms ahead of the MC14 meeting, with New Delhi defending core principles like consensus decision-making and the MFN rule

India, US remain engaged for a mutually beneficial trade pact: Govt

The commerce ministry on Friday said India and the US remain engaged in discussions for a mutually beneficial bilateral trade agreement. The ministry has denied reports about a hold off on bilateral engagement. "We have noted a media report regarding ongoing trade talks with US. It is denied that there is any hold off in bilateral engagement. It is reiterated that the two sides remain engaged for a mutually beneficial trade agreement," the commerce ministry said in a statement. The remarks assume significance as the United States Trade Representative (USTR) on March 11 launched a fresh round of Section 301 trade investigations targeting policies and industrial practices of 16 economies, including India and China. Following a decision of the US Supreme Court striking down sweeping tariffs of the US administration, President Donald Trump has announced 10 per cent tariffs on all countries for 150 days from February 24.

Comm ministry assures full RoDTEP benefits to exporters from Apr 1: FIEO

The commerce ministry has assured that full benefits under the export support scheme RoDTEP will be restored from April 1 this year, providing major relief to exporters facing challenges due to the West Asian crisis, FIEO said on Saturday. Barring agri and processed food products, the government on February 23 halved the rate of duty benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. "Good news for exporters. The current 50 per cent RoDTEP rates are applicable only up to 31st March 2026. The full restoration of RoDTEP rates will take effect from 1st April 2026, which should provide much-needed support to the exporting community," Federation of Indian Export Organisations (FIEO) President SC Ralhan said. The assurance was given by the Directorate General of Foreign Trade (DGFT) in a meeting with FIEO. The exporting community had expressed disappointment over the cut in the rates and had urged the commerce ministry to reconsider the decision. The

Centre reviewing Rodtep scheme to assess and justify its continuation

Reassessment is a part of exercise to rationalise central-sector schemes to enhance efficiency

India-US trade deal will be 'rebalanced' if situation changes: Piyush Goyal

Union Commerce Minister Piyush Goyal said that Indian trade authorities are closely tracking developments after the US Supreme Court ruling against country-specific tariffs

Rajasthan allocates ₹30 crore to promote small entrepreneur exports

Rajasthan govt will provide ₹30 crore in financial support to small entrepreneurs to participate in domestic and international fairs under MSME, Export Promotion, and One District One Product schemes

China to decide on US tariff countermeasures in due course, says ministry

China is willing to hold frank consultations during an upcoming sixth round of US-China economic and trade talks, the commerce ministry official added

DPIIT notifies 100% FDI in insurance companies under automatic route

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry has notified 100 per cent foreign direct investment (FDI) in the insurance sector following the enactment of legislation in this regard. The Government of India has reviewed the extant FDO policy on insurance sector and has made the amendments under the Consolidated FDI Policy of 2020, as amended from time to time, the DPIIT said in a notification. As per the Press Note No. 1 (2026 Series), 100 per cent FDI is allowed in the insurance companies under automatic route. In case of Life Insurance Corporation of India, only 20 per cent is permitted through automatic route. In an Indian insurance company having foreign investment, at least one among the chairperson of its board, its managing director and its chief executive officer, shall be resident Indian citizens, it said while specifying other conditions. Parliament passed Sabka Bima Sabki Raksha (amendment of insurance laws)

India and EU will have the 'mother of all deals', says Piyush Goyal

Goyal said there would be no compromise on the country's interests and that all sensitive issues, such as the Carbon Border Adjustment Mechanism and dairy, would be addressed to India's satisfaction

India's exports to China jump 33% to $12.22 billion during April-November

China is gradually emerging as a major export destination for India, with shipments rising 33 per cent to USD 12.22 billion during April-November of the current fiscal, according to commerce ministry data. The data is signalling a structural shift in the bilateral trade relationship. The export increase was driven by products such as oil meals, marine products, telecom instruments and spices, the data showed. During April-November 2024-25, India exported goods worth USD 9.2 billion. It was USD 9.89 billion in Apr-Nov 2022-23, and USD 10.28 billion in 2023-24. The sharp jump to USD 12.22 billion in 2025-26 not only reverses last year's decline but also marks the highest level in the past four years, the data showed. In the electronics segment, the main items which registered growth during the first eight months included populated printed circuit boards (exports rose from USD 23.9 million to USD 922.4 million), flat panel display modules, and other electrical apparatus for ...

India to assume Kimberley Process Chairmanship from Jan 1 for third time

During its tenure, India will focus on strengthening governance and compliance, advancing digital certification and traceability

Binding FTA commitments to lift Indian professional services: Commerce secy

Commerce Secretary Rajesh Agrawal says binding FTA commitments on professional services can open global opportunities, as India focuses on skills, mobility and digital delivery

India will never open up dairy sector: Commerce Minister on New Zealand FTA

Commerce Minister Piyush Goyal said India has protected dairy and key farm sectors in the India-New Zealand FTA, underlining that dairy will never be opened up in trade negotiations

Indian economy on strong footing, says Commerce Minister Piyush Goyal

Commerce minister Piyush Goyal said the economy is on a strong footing despite global turmoil, citing Q2 growth and export gains in October-November