July goods exports up 7.2%; trade gap hits 8-month high

India’s goods exports saw a 7.2% increase in July, reaching $37.24 billion after two months of decline. However, a surge in imports, driven by oil and gold, led to a significant trade deficit of $27.35 billion, the highest in eight months.

India and the US are actively pursuing a bilateral trade agreement. The next round of talks depends on the US-Russia meeting. A 25% tariff on Indian goods is in effect. India will discuss rupee trade with Russia. Trade with China is growing. India is expediting FTAs with the EU and Latin America.

India Exim Bank projects a 4.5% rise in total merchandise exports, reaching USD 108.1 billion, for July-September FY26. Non-oil exports are expected to grow by 5.2% to USD 92.1 billion. This growth is attributed to a base effect, strong manufacturing, favorable trade negotiations, and expansionary monetary policy, though risks remain from global trade uncertainties and […]

India’s exports to the US surged by 19.94% to USD 8.01 billion in July, with imports also increasing by 13.78%. During April-July, exports to the US rose by 21.64% to USD 33.53 billion. The US emerged as India’s largest trading partner in April-July 2025-26.

Indian trade negotiators are set to convene later this month to strategize for the upcoming WTO ministerial conference and prepare for the country’s trade policy review next year. The focus will be on WTO reform, particularly restoring the dispute settlement mechanism and consensus-based decision-making. India also aims to address trade distortions caused by non-market economies […]

The Finance Ministry will soon consider a proposal from the Commerce Ministry. The proposal involves setting up a ₹2,250 crore export promotion mission. This mission aims to boost exports. It will likely include credit schemes for MSMEs and e-commerce exporters. Overseas warehousing and global branding are also planned. This initiative is crucial due to US […]

India is now negotiating free trade agreements with other nations on an equal footing, reflecting the country’s strengthened position under Prime Minister Modi. Minister Prasada highlighted India’s firm stance during FTA negotiations, emphasizing the nation’s rapid economic growth. The inauguration of the expanded Intellectual Property Office in Dwarka signifies India’s commitment to innovation and intellectual […]

Global trade faces a significant transformation marked by rising protectionism and geopolitical tensions. Businesses must navigate a fragmented landscape with complex legal challenges, including sanctions and diverging regulations. Strategic foresight, diversification, and local expertise are crucial for resilience and seizing opportunities in this evolving trade order, where legal strategy is paramount.

Crisil reports that the 25% tariffs on Indian goods due to Russian oil purchases could render exports to the US “unviable,” impacting sectors like diamond polishing, shrimp, and home textiles. Other sectors with US trade exposure, including garments and chemicals, also face potential repercussions.

A parliamentary panel suggests India raise concerns about the EU’s anti-deforestation rules at the WTO. They want a review of free trade agreements’ effects on the spice trade. The committee urges promoting ‘Make in India’ for leather goods to protect artisans. They highlight the need to safeguard Indian spice farmers’ interests in trade deals.