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21 September 2026 REPORTS

According to the data released by the Ministry of Commerce and Industry, the total combined exports (merchandise and services) of India in the first five months of FY27 (April-August 2026) reached $399.27 billion, representing a growth of 15.5%.

Merchandise exports for the period stood at $215.91 billion, compared to $183.21 billion in the same period of the previous year. Total imports for the April-August 2026 period are estimated at $459.65 billion, showing a growth of 18.01%.

MoC&I further stated that in August 2026, the total combined exports of India were estimated at $82.68 billion, registering a growth of 25.41%. Total combined imports for the month are estimated at $92.09 billion, marking a growth of 18.75%.

18 September 2026 AGREEMENTS

India and the MERCOSUR bloc have signed the First Additional Protocol to their Preferential Trade Agreement (PTA) to formally accept electronic Certificates of Origin (CoOs), promoting paperless trade. The protocol modifies Article 16 of Annex III (Rules of Origin) within the existing PTA.

It is to be noted that the foundational India-MERCOSUR PTA was signed in 2004 and entered into force in 2009. Under this agreement, India extends tariff concessions on 450 tariff lines, while the MERCOSUR countries (comprising Argentina, Brazil, Paraguay, Uruguay, and Bolivia) offer concessions on 452 lines.

27 August 2026 ECONOMY

The Directorate General of Foreign Trade (DGFT), functioning under the Ministry of Commerce and Industry (MoCI), has relaxed regulations for rupee-based export transactions to provide Indian exporters with greater flexibility.

Rupee-denominated payments for exports to any country, except Nepal and Bhutan, will qualify for benefits under the Foreign Trade Policy (FTP) and count toward the fulfillment of export obligations. The DGFT also specified that exports financed through the Export-Import Bank of India (EXIM Bank) or Government of India (GoI) lines of credit may be invoiced in INR.

23 April 2026 BANKING

The Directorate General of Foreign Trade (DGFT), under the Department of Commerce (DoC) of the Ministry of Commerce & Industry (MoC&I), has updated the list of banks authorized to import precious metals. The new authorization is effective from April 2026, to March 2029.

A total of 15 banks are permitted to import both gold and silver, including Indian Overseas Bank, Bank of India, Punjab National Bank, RBL Bank, SBI, Axis Bank, Federal Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank Ltd, Karur Vysya Bank Ltd, Yes Bank, Deutsche Bank, and the Industrial and Commercial Bank of China Ltd. Futhermore, Union Bank of India and SBER Bank (a Russian state-publicly listed company) are authorized to import gold only.

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