General / PIB Releases

Seventh Trade Policy Review of India at the WTO begins

Members commended steps taken by India to improve trade and economic policies in a more inclusive and sustainable manner

New Delhi; 7.01.2021

India’s seventh Trade Policy Review (TPR) began on Wednesday, 6th January 2021, at the World Trade Organization in Geneva. The TPR is an important mechanism under the WTO’s monitoring function, and involves a comprehensive peer-review of the Member’s national trade policies. India’s last TPR took place in 2015.

INDIA’S MERCHANDISE TRADE Preliminary Data for December 2020

India’s merchandise exports in December 2020 was USD 26.89 billion, as compared to USD 27.11 billion in December 2019 a marginal fall of 0.80%

India’s merchandise imports in December 2020 was USD 42.60 billion, as compared to USD 39.59 billion in December 2019 an increment of 7.6%

India is a net importer in December 2020, with a trade deficit of USD 15.71 billion as compared to trade deficit of USD 12.49 billion in December 2019

Shri Piyush Goyal launches India-Australia Economic Strategy Report;

New Delhi; 18.12.20

Says there is tremendous scope for Australian investment into India;
With Bigger trade basket, Better trade basket and Balanced trade relationship, we can see huge & exponential growth in our trade relationship.

Shri Piyush Goyal addressed CII’s Session on Post-Brexit UK and India;

New Delhi; 17.12.20

Shri Goyal says India and UK are looking at possibilities of trade in goods & services and investments being a part of enhanced trade partnership;
Expresses hope that early harvest proposition of India, within the framework of a larger Free Trade Agreement will be accepted by the UK.