Recent Current Affairs related to Trade

According to the 9th edition of the “Trade Watch Quarterly (TWQ) Thematic Analysis: Metals and Ores Trade” released by the NITI Aayog for the first quarter (Q1) of FY 2027 (April to June 2026), global goods trade reached $13.7 trillion in the first half of Calendar Year (CY) 2026, reflecting a 12.5% Year-on-Year (Y-o-Y) growth.

The total merchandise and services trade of India expanded to $506.9 billion in Q1 FY27, registering a 15.5% Y-o-Y growth. During the same period, merchandise exports increased by 16% to $129.5 billion, while merchandise imports grew by 19.8% to reach $216.1 billion.

EM Sudarsana Natchiappan, a senior leader of the Indian National Congress (INC) and former Union Minister, passed away at the age of 78.

International Day for South-South Cooperation

Day - September 11

Theme 2026 - “Solidarity Rising: Global Alliance for Inclusive and Innovative Development”

Observed by - UN

Observed since - 2004

Commemorating - The adoption of the Buenos Aires Plan of Action (BAPA) in 1978

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%.

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.

The Odisha government has signed agreements with the UAE-based International Holding Company (IHC) and the Adani Group to explore 14 projects involving an indicative investment of ₹2.1 lakh crore.

Additionally, a Memorandum of Cooperation (MoC) was signed between the state government and the Indian Business & Professional Group (IBPG) to bolster trade, exports, and investments between Odisha and the UAE.

Union Minister of State Dr Jitin Prasada has co-chaired the 7th India-Morocco Joint Commission meeting during a visit to Morocco. He also participated in the Morocco-India Joint Business Forum to enhance commercial engagement between the two nations.

It was highlighted that the bilateral trade between the countries exceeded $4 billion in 2025, with a target to double it in the next 5 years. A Joint Working Group (JWG) will be established to explore the feasibility of a Preferential Trade Agreement (PTA).

The Food Safety and Standards Authority of India (FSSAI) signed an MoU with the National Office of Food Safety (ONSSA) of Morocco to bolster cooperation in food safety. Both countries also signed a Cultural Exchange Programme for 2026-2030. It is to be noted that the 8th session of the JCM will be held in New Delhi in 2027.

According to data by the Ministry of Commerce and Industry (MoCI), the total exports of India (merchandise and services) grew by 13.31% year-on-year (y-o-y) to $80.14 billion in July 2026. The total imports of the nation increased by 15.83% to $95.16 billion during the same period.

The total trade deficit for July 2026 was recorded at $15.03 billion, which is an increase from the $11.43 billion deficit registered in July 2025.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has signed two MoUs with Business France and the India & Arab Countries Chamber of Commerce, Industry and Agriculture (IACCIA) to foster trade, investment, and technology collaboration between India, France, and Arab countries.

The inaugural India–Mali Forum for the Promotion of Exports was held in Bamako, Mali, under the theme 'Reinforcing Trade and Strategic Partnerships.'

It is to be noted that bilateral trade between India and Mali surpassed $326.6 million in FY26, marking a 55% year-on-year growth compared to the previous fiscal period.

According to the 8th edition of the 'Trade Watch Quarterly (TWQ)' released by the NITI Aayog for Q4 FY26, the total merchandise and services trade of India expanded by 5.4% to $1.84 trillion.

The report states that the global pharmaceutical market recorded a demand of $1.3 trillion in 2025. India's pharmaceutical sector contributes over 1.7% to the national Gross Domestic Product (GDP) and 7.2% to the manufacturing Gross Value Added (GVA).

Union Minister Amit Shah has launched the Land Port Management System (LPMS) – VINIMAY, a digital platform in New Delhi. Developed by the Land Ports Authority of India (LPAI) under the Ministry of Home Affairs (MHA), the system aims to modernize land port operations, facilitate trade, and strengthen border security.

The implementation of the platform is expected to eliminate 90% of paperwork, reduce truck waiting time by 40-60%, and cut gate processing time by 22-35%.

Under the Comprehensive Economic Partnership Agreement (CEPA), India has extended liberalized tariffs on 77.79% of its tariff lines, covering 94.81% of imports from Oman.

Oman has committed to expanding market access across 127 services sub-sectors, including binding provisions for professionals in various sectors. The agreement also enhances professional mobility, permitting business visitors to stay for up to 90 days, independent professionals for up to 180 days, and Intra-Corporate Transferees (ICTs) for up to 4 years.

The India-Oman Comprehensive Economic Partnership Agreement (CEPA) came into force in June 2026, in the presence of Union Minister Piyush Goyal.

Following the operationalisation, the first consignments availing preferential tariff benefits, including agricultural products, gems, and jewellery, were flagged off from Mumbai, Kolkata, and Chennai.

The CEPA provides duty-free export access on 99.38% of tariff lines, covering 98.08% of India’s exports. Under the previous Most Favoured Nation (MFN) regime, only 15.33% of India’s exports entered Oman duty-free.

Union Minister Piyush Goyal visited Canada to facilitate an economic reset and accelerate free trade negotiations. He led the largest-ever Indian business delegation to the country to fast-track the Comprehensive Economic Partnership Agreement (CEPA).

Both nations aim to finalize a balanced CEPA by the end of 2026. India and Canada have set a target to scale bilateral trade from $8.5 billion to $50 billion by 2030. During his visit, he held bilateral engagements in Ottawa, including a meeting with Canadian PM Mark Carney.

Japan has suspended all fresh mango imports from India for the 2026 season, following the identification of critical safety lapses at Indian export processing centres.

This suspension, issued by the Yokohama Plant Protection Association, halts 20 years of uninterrupted trade during the peak summer harvesting window.

PM Narendra Modi has visited Sweden at the invitation of the PM of Sweden, Ulf Kristersson. The visit transitioned the bilateral relations into a formal “Strategic Partnership” and adopted the “Joint Action Plan (2026-2030)”.

Building on a record $7.75 billion bilateral trade volume achieved in 2025, both nations agreed to double their trade over the next 5 years. During his address to the European Round Table for Industry (ERT) in Gothenburg, PM Modi highlighted that India has followed a “12-year trajectory of reforms, performance, and transformation”.

The “India-Sweden Small and Medium Enterprises (SME) and Start-up Platform” was initiated. The leaders also endorsed the “India-Sweden Technology and Artificial Intelligence Corridor (SITAC)”. Additionally, a virtual “India-Sweden Joint Science and Technology Centre (ISJSTC)” was launched to strengthen bilateral scientific cooperation.

In the field of space exploration, Sweden announced its participation in the Venus Orbiter Mission (“Shukrayaan”) of India, with the Swedish Institute of Space Physics supplying the advanced Venusian Neutrals Analyzer to fly aboard the spacecraft of the ISRO. Furthermore, both nations rolled out the “Tagore-Sweden” Lecture Series to deepen academic connections.

According to the Ministry of Commerce and Industry (MoC&I), the European Union (EU) has emerged as the third-largest seafood export market for India in FY26, after the USA and China. India’s seafood exports to the EU stood at $1.593 billion, contributing 18.94% of the total seafood export value and showing robust growth in both value and quantity.

The Department of Financial Services (DFS) under the Ministry of Finance (MoF) has launched the “Bharat Maritime Insurance Pool” (BMIP) in New Delhi. The BMIP is established with a total value of $1.5 billion, which includes a sovereign guarantee of $1.4 billion (₹12,980 crore).

The initiative aims to reduce the heavy reliance of Indian vessels on foreign International Group (IG) Protection and Indemnity (P&I) Clubs for third-party liability coverage.

According to the report by the Ministry of Commerce and Industry, the total exports of India, including both merchandise and services, are estimated at $80.80 billion for April 2026, reflecting a growth of 13.59% compared to $71.13 billion in April 2025. Merchandise exports rose by 13.78% to $43.56 billion from $38.28 billion in the previous year.