ET Graphics: India’s AI hardware imports jump 13% to $66.8 billion, US share rises

India’s imports of AI-enabling goods surged by 13.1% to $66.8 billion in FY25, with the US contributing significantly. Processors, controllers, and memories from the US now form over half of India’s AI-related imports, highlighting a growing dependence on American advanced computing hardware for its burgeoning AI ecosystem.

ASSOCHAM plans to propose cross-sectoral measures to the Centre aimed at reducing India’s import dependence, specifying potential import reduction quantum for implemented interventions. These long-term strategies will focus on policy changes and incentives, with a study to identify single-country import dependencies. The industry is also exploring alternative technologies to counter disruptions like China’s rare earth […]

India is actively working to secure its rare earth mineral supply. The nation is negotiating trade agreements with Chile and Peru, while also boosting domestic exploration efforts. Startups are being encouraged to participate in recycling and processing rare earth waste. These measures aim to diversify supply chains and reduce reliance on single sources, ensuring a […]

Mainland China led India’s imports in the first half of FY26 with $62.89 billion, followed by the UAE. Despite a trade deficit increase with China, overall goods imports rose, indicating strong domestic demand and manufacturing activity. Electronics, machinery, and silver imports saw significant growth.

India navigates a delicate balance, seeking a trade deal with the US while maintaining energy ties with Russia. Prime Minister Modi indicated a potential reduction in Russian oil purchases, signaling a willingness to work with Washington, though emphasizing the need for cost-effective energy supplies for consumers.

India’s Ministry of External Affairs has refuted US President Donald Trump’s claim that Prime Minister Narendra Modi assured him of ending Russian oil purchases. The MEA stated no such telephonic conversation occurred, emphasizing India’s consistent priority to safeguard consumer interests in volatile energy markets.

US tariffs have impacted Indian exports, causing a sharp decline. However, India is actively diversifying its export markets and striking new trade deals. This strategy is showing positive results, with some sectors experiencing growth. While challenges remain, this situation presents an opportunity for India to build a more robust and balanced export portfolio for long-term […]

India’s latest import regulations see the prohibition of roasted Areca nuts valued below ₹351 per kilogram, a step aimed at stabilizing the market. Notably, this ban does not extend to imports by fully export-oriented firms in SEZs or those operating under the Advance Authorisation framework.

US President Trump claimed India will halt Russian oil buys, but Indian refiners await government clarity. Russia remains India’s top oil supplier, offering significant discounts. Abruptly stopping these imports is near impossible, with deliveries contracted months ahead. Refiners face economic and strategic trade-offs if Russian oil becomes inaccessible.

India and Brazil agreed to expand their existing preferential trade pact with Mercosur to boost economic ties. The two nations aim to conclude negotiations for a full-fledged agreement within one year, targeting a significant increase in bilateral trade to USD 20 billion over five years.