International Relations GS 2 In the news 8 times

India's Trade Policy Framework

Commerce Ministry and BTA Mandate

India's trade policy is formulated by the Ministry of Commerce and Industry, with the Foreign Trade Policy (FTP) as the primary instrument. The FTP is notified under the Foreign Trade (Development and Regulation) Act, 1992, which provides the legal basis for India's import/export regulations and FTA obligations. Bilateral negotiations are conducted by the commerce ministry, with Cabinet Committee on Economic Affairs (CCEA) approval required for major trade concessions.

Key details

Foreign Trade (Development and Regulation) Act, 1992 — Section 3 empowers the Central Government to prohibit, restrict, or regulate imports/exports.
Foreign Trade Policy 2023-28 (notified April 2023) sets India's export target at USD 2 trillion by 2030 (goods + services combined).
The DPIIT (Department for Promotion of Industry and Internal Trade) under the Commerce Ministry handles specific sectoral negotiations.
India's BTA with the US is being negotiated under the oversight of the commerce ministry with inter-ministerial inputs from Finance, Agriculture, Electronics & IT, and Health ministries for their respective sectors.

In the news

● Tracked since February 10, 2026 · last seen June 23, 2026 · updates as the daily brief publishes

23 Jun '26

India-US Trade Framework Renegotiated After US Supreme Court Strikes Down IEEPA Tariffs

International Relations

15 Apr '26

India's Total Exports Hit Record USD 860.09 Billion in FY26, Services Drive Growth

Economics

09 Apr '26

India-US Trade Deal Talks: Delegation to Washington for Tariff Concession Negotiations

Economics

28 Feb '26