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Iran is a marginal partner overall, but its dominance in fruits, nuts and niche exports leaves India exposed at the product level
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Rice shipments alone accounted for $757.3 million, or over 61 percent of India’s total exports to Iran, making it the most exposed category by value
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The issue is expected to take the centre stage when India and the Russia-led Eurasian Economic Union hold the next round of trade talks, likely in the second half of February
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India dominates large swathes of America’s import basket, leaving little room to avoid higher prices.
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US Ambassador-designate Sergio Gor arrived in India to rebuild strained ties, focusing on trade and tariff issues. His visit comes amid stalled India-US trade talks and heightened economic tensions.
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A central fault line in the coming years will be whether MFN and consensus survive in their current form. There is credible reason to believe that a significant group of WTO members—including most major trading powers—may settle for their dilution
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A source added that these efforts come amid a push to boost exports to Russia to balance the trade, with a focus on spurring Indian shipments of automobiles, auto components, and pharmaceuticals.
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US tariffs, EU's CBAM, and global headwinds challenge India's merchandise exports, while alternative markets and services exports offer potential support.
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The proposal seeks to open up export quality and compliance certification to private players to reduce clearance timelines at ports from about 10 days to three
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A Rajiv Gauba-led committee has recommended easier domestic market access for SEZs, with suggestions to reduce duty distortions to enable smoother sourcing and sales
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India–EU FTA represents the scaffolding for India’s next industrial leap. It offers the regulatory foundation, external confidence, and investment pipeline needed for Indian industry to move up the value chain and integrate more deeply with the world’s most advanced markets
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Italy’s Deputy Prime Minister and Foreign Minister Antonio Tajani said he hopes the FTA could be concluded in the first six months of 2026, though he clarified that he is not directly responsible for trade negotiations.
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Goyal acknowledged that some pending issues still need to be ironed out to conclude India-EU FTA talks
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The government has tightened checks on 'mis-declared' gold and platinum imports. The basic customs duty on the yellow metal has been cut from 15% to 6% in July 2024
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Carbon tax and market access for automobiles and steel, rules of origin, and barriers in services are the remaining sticking points, officials have said
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The visit comes amid a fall in India’s Russian crude oil purchases and ongoing efforts to settle trade in local currencies, alongside talks on energy cooperation and boosting bilateral commerce.
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Electronics, speciality chemicals and machinery components offset part of the decline even as labour-intensive sectors struggle
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The engagement could take the form of a roadshow or an exhibition featuring select exporters on December 4, and the next day will include meetings between 75 Indian business leaders and a similar number of Russian executives, sources say.
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Rupee weakness isn’t a concern for exporters, but October’s wider trade gap was driven by a spike in precious metals imports, said Commerce Secretary Rajesh Agrawal.
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India is also eyeing a trade pact with Africa’s oldest customs union - SACU - to expand market access and diversify export routes.
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On special economic zones (SEZs), Union commerce and industry minister Piyush Goyal said inter-ministerial discussions are "going on very actively" to make the units in these zones competitive. Surplus capacity in SEZs can be used to reduce imports from countries such as China and ASEAN, he said.
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The reset marks a shift from strained political ties to renewed economic cooperation, with both sides eyeing deeper trade, technology and energy partnerships.
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The recently enacted labour codes will provide substantial benefits to unorganised workers and gig workers, said Union minister for commerce and industry Piyush Goyal. He said these workers previously had to navigate numerous forms, inspections and complex regulations, whereas the new framework simplifies processes and ensures access to proper facilities, social security and better working conditions.
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Goyal says “good news” on an India–US trade deal will come once the agreement is fair and balanced, saying ties remain strong and strategic despite differing paces across issues.
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The scheme shall be implemented by DFS through National Credit Guarantee Trustee Company Ltd to provide additional credit support by MLIs to the eligible exporters including MSMEs
