Trade

Indian law recognizes trade as goods exchange and repeated profit-driven business activities requiring case-by-case analysis

The word 'trade' has dual meanings under Indian law. In its primary sense, it refers to the exchange of goods for goods or goods for money. In its secondary meaning, it encompasses repeated business activities conducted with profit motive, whether manual or mercantile, distinguished from liberal arts, learned professions, or agriculture. Legal authorities define trade as a means of earning livelihood, occupation, or business carried on for subsistence or profit. Determining whether trade occurs at a specific location requires considering all circumstances, including the nature of trade, steps taken for conducting business, and other relevant facts. No single decisive test exists for all cases.