Export Growth signals sustained recovery as overall trade and services exports rise significantly in the recent period.
Export Growth in February 2022 is estimated at 25.41% y-o-y with overall exports of USD 57.03 billion (merchandise USD 34.57 billion; services USD 22.46 billion). Imports rose faster-February imports estimated at USD 69.35 billion (up 35.64% y-o-y)-widening the trade deficit. For April-February 2021-22 overall exports are estimated at USD 601.77 billion and imports at USD 683.01 billion. February services data are provisional pending RBI revision.

Exchange rate adjustment: Turkish lira entry updated to set distinct import and export rates for customs processing.
The customs authority amends an existing exchange rate notification by substituting the serial entry for the Turkish lira in Schedule-I, prescribing distinct import and export exchange rate quotations that will apply for customs valuation and related processing from the notification's stated effective date.

Monetary policy tightening may tighten financial conditions and test external resilience, requiring calibrated domestic policy responses.
Monetary policy faces a global shift from accommodation to tightening, creating cross border spillovers via capital flows, commodity shocks and investor risk re assessment. India's inflation targeting framework, MPC governance, supply side interventions, export performance, FDI led financing, stronger reserves and improved external debt composition provide resilience, reducing inflation persistence and allowing calibrated policy responses. Nonetheless, synchronized commodity price surges and geopolitical conflict pose upside inflation and growth downside risks, requiring careful calibration of monetary and fiscal levers and re assessment as new data emerge.

Comprehensive Economic Partnership Agreement relaunched to pursue an Interim Agreement boosting trade and regulatory cooperation.
Re-launch of negotiations for a Comprehensive Economic Partnership Agreement between India and Canada, with consideration of an Interim Agreement or Early Progress Trade Agreement (EPTA) to secure early commercial gains through commitments on goods, services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement, while advancing market access, regulatory recognition for agricultural exports, and cooperation to build resilient supply chains across key sectors.

Comprehensive economic partnership negotiations relaunched; parties agree to pursue an interim Early Progress Trade Agreement to liberalise trade.
Ministers agreed to re-launch negotiations on a Comprehensive Economic Partnership Agreement (CEPA) and to consider an interim Early Progress Trade Agreement (EPTA) consistent with Article XXIV GATT, to include high-level commitments in goods, services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, and dispute settlement; they also committed to intensify negotiations toward a Bilateral Investment Agreement and undertake sectoral work on market access, regulatory recognition, and supply chain resilience.

Trade and investment dialogue to advance CEPA talks and strengthen bilateral economic partnership amid trade recovery.
A ministerial Trade and Investment Dialogue between India and Canada, co-chaired by the respective trade ministers, will address bilateral trade and investment issues and advance negotiations on the Comprehensive Economic Partnership Agreement (CEPA). The statement highlights a post-pandemic rebound in bilateral trade, notes growth in merchandise and combined trade, and identifies major export and import sectors that will inform discussions on market access, trade facilitation, and investment cooperation.

Women empowerment through accessibility upgrades and vocational training enables self-reliance for visually challenged and differently-abled beneficiaries.
ICD Tughlakabad dedicated the "Drishti se Shristi" project under the CBIC Swachhta Action Plan to renovate five schools and hostels for visually challenged and differently-abled young women and men, implementing accessibility upgrades (reinforcement, waterproofing, modified toilets, guidance tiles) and pairing those works with capacity-building training in digital skills, industry software, medical awareness, and vocational crafts to promote women empowerment and self-reliance among beneficiaries.

Export-led growth: urges raising exports share of GDP to support a larger economy and stronger currency.
The Minister advocates increasing the share of exports in GDP to at least twenty percent to support a larger economy and strengthen the domestic currency, rejecting the idea that a weak currency aids exports. He urges reorienting economic laws, leveraging India's EDGE (Economies of Scale, Demographic Dividend, Good Governance, Innovation), and using government post budget measures to boost manufacturing quality and competitiveness. Industry is given a three point call to action: fully utilise FTAs, elevate product quality and national pride in Indian goods, and develop Aspirational districts and Tier 2/3 cities as export hubs.

Agricultural export growth driven by APEDA initiatives increases market access and infrastructure support, expanding product diversification and quality compliance.
APEDA-basket agricultural and processed food exports rose 23 percent in April-January 2021-22, led by rice, wheat and cereal preparations. APEDA attributes growth to market promotion (B2B events, Buyer-Seller Meets, trade fairs), financial assistance for infrastructure and quality improvement, promotion of GI products, state level Action Plans under the Agriculture Export Policy, recognition and upgrade of testing laboratories, registration of pack houses and processing units, and implementation of traceability systems to meet international quality and certification requirements.

Multimodal connectivity measures to enhance cross border trade facilitation and rail road transport links between the two countries.
Agreements focused on operational trade facilitation and transport infrastructure, including approved Detailed Project Proposals for rail container handling and inland container depots, new siding and loading platforms to enable rail freight, use of returning empty wagons/containers to lower logistics costs, reopening of Border Haats, operationalization of the Petrapole Benapole Integrated Check Post, progress on land customs stations and strengthened multimodal regional connectivity; a joint study on a Comprehensive Economic Partnership Agreement to be finalized and enhanced institutional engagement through a CEO forum and the Joint Working Group on Trade.

Merchandise trade growth signals higher exports and larger import led deficit impacting trade balance momentum in recent months.
India's merchandise exports and imports both rose in February 2022 and in April 2021-February 2022, with imports growing faster and causing a wider merchandise trade deficit. The release details year on year and pre pandemic comparisons for exports, imports and deficit, disaggregates non petroleum and non petroleum/non gems-and jewellery trade, and identifies top commodity groups driving export and import shares.

Concessional import compliance automated: portal-based filings, monthly monitoring statements, and clarified inter-unit transfer procedure enabled.
Automation of IGCR compliance establishes a portal-based, paperless process for electronic submission of standardized intimations and monthly statements to monitor end use conditions; transaction-based permissions are removed, inter unit transfer procedures clarified, and a voluntary portal payment option enabled, with implementation supported by circulars and system advisories and a transition period to the new system.

Make in India for the World webinar to align manufacturing, export and MSME strategies with the Union Budget and finalise an action plan.
The webinar "Make in India for the World" seeks to operationalize post Budget priorities by convening central and state officials and industry leaders to finalise an Action Plan and monitoring framework focused on Ease of Doing Business 2.0, technology led industrial development, skilling, employment, manufacturing sector strategies, export promotion and strengthening MSMEs through three sessions addressing manufacturing, export strategy and MSME growth.

National Policy on Electronics drives incentives and schemes to boost domestic electronics manufacturing and deepen export integration.
National Policy on Electronics 2019 aims to position India as a global hub for Electronics System Design and Manufacturing by developing core component capabilities and an enabling ecosystem. Implementation is via targeted schemes including Production Linked Incentive programmes for electronics and IT hardware, the Scheme for Promotion of Electronic Components and Semiconductors, and the Modified Electronics Manufacturing Clusters scheme. Administrative measures to sustain export growth include an export monitoring desk, statutory reviews to remove redundancies, district export promotion, compliance rationalization, an IT licensing and grievance platform, and export branding initiatives.

Policy repo rate unchanged; accommodative stance maintained to support durable growth while keeping inflation near target.
The MPC decided to keep the policy repo rate unchanged and to continue with an accommodative stance to revive and sustain growth while ensuring inflation remains within the target. The Committee noted supply-driven inflationary pressures alongside easing food price momentum and elevated international commodity prices, retained inflation and growth projections for 2022 23 on assumptions of normal monsoon and supportive policies, and recorded unanimous support for the rate decision and a majority vote for continuing the accommodative stance with one reservation.

Local value addition spurs employment and benefits industries and MSMEs via SCALE committee initiatives to boost manufacturing.
Multiple policy interventions to promote Local Value Addition aim to expand domestic manufacturing content and have benefited both large industries and MSMEs while supporting employment. The SCALE review, chaired by the Union Minister, emphasised innovative measures to increase local value-add in key manufacturing sectors amid global value chain disruptions, convening sectoral industry and export representatives and senior DPIIT officials to discuss sector-specific strategies, public-private coordination, supply chain resilience, and export promotion.

Comprehensive Economic Partnership expands market access and tariff liberalisation, adds fast-track generic medicine approvals, and benefits MSMEs and labour sectors.
The Comprehensive Economic Partnership Agreement provides reciprocal market access and tariff liberalisation for goods and services, targets duty elimination on most export lines to enhance competitiveness for labour intensive sectors and MSMEs, and establishes a fast track mechanism for automatic registration and marketing authorisation of Indian generic medicines following approval in developed jurisdictions.

Comprehensive Economic Partnership expands market access and tariff liberalization, deepening bilateral trade and regulatory cooperation between the countries.
The Comprehensive Economic Partnership Agreement establishes a treaty-level framework to liberalize bilateral trade through tariff reductions and expanded market access for goods and services, facilitate cross-border investment, promote regulatory cooperation to reduce non-tariff barriers and streamline trade facilitation, and support sectoral collaboration in renewables, fintech, healthtech and skills to advance strategic economic diversification and integration.

Export promotion of gems and jewellery reinforced by tariff, credit and regulatory measures to boost overseas shipments and growth.
Gems and Jewellery exports are targeted to reach forty billion dollars with projected growth over pre Covid levels; the sector is designated a focus area for export promotion and supported through Budget 2022 measures including reduced import duty on cut and polished diamonds, extension of the Emergency Credit Line Guarantee Scheme for MSMEs, acceptance of personal surety bonds for gold imports, SEZ regime reform, and simplified e commerce regulation, alongside establishment of Common Facility Centres and trade promotion initiatives to boost production quality and overseas sales.

Trade growth: India's exports and imports expanded strongly while merchandise trade deficit widened, services surplus rose.
India's foreign trade in January 2022 and April-January 2021-22 shows substantial year on year growth in both merchandise and services exports and imports, with merchandise exhibiting a widened negative trade balance and services producing a larger surplus. Sectoral data reveal mixed commodity performance-non petroleum and non gems & jewellery expanded while specific items declined-and import increases concentrated in categories such as silver, fertilizers, electronic goods and petroleum. January services figures are provisional and subject to RBI revision; some historical series have been re pro rata revised using quarterly balance of payments data.