India's Trade Policy Architecture
India's trade policy is managed by the Ministry of Commerce and Industry, with the DGFT (Directorate General of Foreign Trade) administering export-import controls. India's overall trade policy has undergone significant shifts since the 1991 reforms — from an import-substitution regime to a more open economy, though it has maintained relatively high tariffs in sensitive sectors (agriculture, dairy, electronics). Bilateral and regional FTAs have been negotiated selectively: India has FTAs with ASEAN, Japan, South Korea, and the UAE, but has stayed out of RCEP.
- India withdrew from the Regional Comprehensive Economic Partnership (RCEP) in 2019, citing concerns about Chinese import surges and inadequate market access reciprocity.
- India's exports to the US (goods): approximately $83-90 billion, making the US the single largest export destination.
- Key exports at risk from US tariffs: pharmaceuticals, IT hardware, gems and jewellery, textiles, engineering goods.
- The $500 billion US purchase commitment (energy, aircraft, technology) over five years signals a strategic reorientation of India's import basket away from Russia and China.
● Tracked since February 03, 2026 · last seen June 24, 2026 · updates as the daily brief publishes
24 Jun '26
India-US Interim Trade Talks: Commitment Reaffirmed, No Deal Timeline Set
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20 Feb '26
India-US Trade Pact Soon: US Ambassador Signals Imminent Finalisation
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India-US Trade Relations
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Free Trade Agreements
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India-US Bilateral Trade Agreement (BTA)
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Production Linked Incentive (PLI) Scheme
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Atmanirbhar Bharat
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Most-Favoured-Nation (MFN) Principle
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