India Trade

Path being cleared for temporary removal of cotton export duty curbs

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

PM Modi lands in Sweden; to hold talks on trade, technology, defence

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, South Korea likely to hold FTA review negotiations on May 25

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

Trade priorities: Govt must help exporters maximise gains from UK, EU FTAs

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

Visiting Canada next month to speed up Cepa talks, says Piyush Goyal

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

Beyond borders: India must harness its untapped services trade potential

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 diversifying strategy to boost exports to China, reduce imports'

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

FY26 exports grew despite tariffs, but impact of West Asia war looms

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

Beyond self-reliance: Why interdependence must shape India's future

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 becomes India's top trade partner in FY26; deficit widens to $112 bn

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

Hoisting the Indian flag on the high seas: Maritime ambitions gather pace

$8 billion spent on foreign tankers could build a homegrown fleet to navigate India's energy, trade, and maritime ambitions through turbulent waters

West Asia conflict: Anti-dumping duties need a downstream impact test

A surge in DGTR anti-dumping actions may protect producers but risks raising costs for downstream industries, reviving concerns over creeping protectionism

DGTR initiates probe against imports of Chinese, Indonesian paperboards

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 ..

WTO reforms, e-commerce, investment facilitation to dominate MC14 talks

WTO's MC14 will see discussions on reforms, e-commerce rules, fisheries subsidies and public stockholding, with India expected to push for policy space and clarity

India's trade remains steady despite West Asia conflict: Piyush Goyal

Union Minister brought attention to India's comprehensive export growth and said that the government is focused on strengthening its competitive advantage in the global market

Govt says exports moving smoothly; 2,600 containers shipped to West Asia

Government says exports to West Asia continue smoothly amid crisis as LPG tanker reaches Mundra and two more vessels carrying crude oil and LPG are set to arrive

Govt moves to shield trade as West Asia conflict chokes sea routes

The Centre has set up a multi-ministry support desk to assist exporters and importers as the West Asia conflict disrupts cargo movement, congests ports and heightens logistics challenges

India, Canada sign $1.9 bn uranium pact to strengthen energy cooperation

India has signed a $1.9 billion uranium supply deal with Canada's Cameco for deliveries from 2027 to 2035, part of a wider strategic energy partnership spanning renewables and fuels

West Asia conflict: From oil to remittances, how exposed India is to crisis

Iran-Israel conflict: Rising tensions in West Asia put India's oil supplies, trade routes and millions of workers in Gulf nations at risk, raising concerns over remittance flows and safety

Modi's visit signals a new phase in India-Israel economic partnership

PM Modi's visit to Israel and ongoing FTA negotiations mark a shift from transactional trade to structured, execution-led economic collaboration between India and Israel