BRICS economic cooperation advances deliverables on trade, e commerce, non tariff measures and SPS with intersessional consensus process.
India's chairship presented the 2021 CGETI calendar and proposed deliverables: an action plan for the Strategy for BRICS Economic Partnership 2025; cooperation on the multilateral trading system including the TRIPS waiver proposal; a Framework for Consumer Protection in E Commerce; a Non Tariff Measures resolution mechanism; an SPS working mechanism; a cooperation framework for protection of genetic resources and traditional knowledge; and a BRICS Framework on Cooperation in Professional Services, with intersessional deliberations to reach consensus.

Virtual trade facilitation expands export opportunities for agricultural and processed foods through secure online buyer seller meetings and events.
APEDA launched a Virtual Trade Fair to promote exports of agricultural and processed food products by replicating trade fair interactions digitally; it connects exporters with international buyers and offers audio video meetings, private meeting rooms, workshops and webinars to enable negotiations and market outreach while asserting that online interactions and exchanged data are secured and accessible only to involved parties.

Production-linked incentive scheme expands sectoral manufacturing support and administrative facilitation to boost domestic production and exports.
Central policy reforms aim to boost domestic manufacturing through the Production-Linked Incentive scheme across multiple sectors, administrative facilitation via an Empowered Group of Secretaries and Project Development Cells, and a planned Single Window System for end-to-end clearances. Budget measures and complementary initiatives include textile investment parks with plug-and-play facilities, customs duty rationalisation, a scrappage policy for vehicles, acceleration of the National Infrastructure Pipeline, industrial corridors and connectivity planning, targeted development schemes for backward and hilly regions, a Fund of Funds and Seed Fund for startups, an industrial land information system, and procurement rule changes to enhance local content.

Special Economic Zones policy treats designated duty-free enclaves as outside customs territory, promoting exports and investment.
Special Economic Zones policy treats a designated duty free enclave as outside customs territory, allows duty-free imports without licence, permits manufacturing and service activities, and grants tax benefits to Developers, Co Developers and Units. Units must achieve Positive Net Foreign Exchange cumulatively over five years; domestic sales face applicable customs duty. The document records nationwide counts of formally approved, notified and operational SEZs, state-wise distributions, and lists Agro and Food Processing SEZs with their notification and operational status along with export performance summaries.

Production-linked incentive scheme expands domestic manufacturing support, paired with single-window clearances and local procurement rules.
Production-Linked Incentive (PLI) Schemes across key manufacturing sectors incentivise domestic production and exports, supported by institutional facilitation through an Empowered Group of Secretaries and Project Development Cells. A proposed Single Window System will streamline clearances. Complementary budgetary and regulatory measures include Mega Investment Textile Parks, customs duty rationalisation, a Scrappage Policy, and the National Infrastructure Pipeline. DPIIT actions cover industrial corridors, targeted regional development schemes, a Fund of Funds and Seed Fund for start-ups, an industrial information system to improve industrial land availability, and amendments to Public Procurement Rules to enhance local content.

Steel import registration now requires advance SIMS registration to obtain a time limited registration number for customs clearance.
Launch of the Steel Import Monitoring System (SIMS) requires importers to obtain a SIMS Registration Number by submitting advance information 15-60 days before import; the Registration Number is valid for 75 days and is the only mandatory SIMS-related declaration required in the Bill of Entry to enable customs clearance.

Export promotion of non basmati rice expands market access while maintaining export continuity and COVID safety measures.
Assam's first exports of 'red rice' to the USA expand non Basmati rice export channels and aim to raise farm incomes; substantial growth in non Basmati shipments was achieved through coordinated export promotion measures and continuity protocols during COVID 19, supported by a multi stakeholder Rice Export Promotion Forum to facilitate value chain collaboration and market access.

Regional Customs Laboratory recognition expands CRCL's role in customs testing and trade facilitation across the Asia Pacific.
Recognition of Central Revenues Control Laboratory (CRCL) as a Regional Customs Laboratory of the World Customs Organisation under a Memorandum of Understanding formalises CRCL's role in regional customs testing and technical cooperation. Recent investments in modern analytical equipment and adoption of instrument based testing across the revenue laboratory network are described as enabling faster clearances while preserving enforcement, thereby enhancing CRCL's contribution to trade facilitation and customs cooperation.

Monetary and fiscal support underpin recovery, paired with incentives for manufacturing, MSMEs, digital innovation and exports.
The address emphasises coordinated monetary and fiscal support with calibrated exits to sustain recovery, detailing central bank liquidity operations (long term and targeted repo operations, special refinance and liquidity facilities, sovereign asset purchases) and forward guidance to maintain financial stability. It identifies seven priority growth areas-manufacturing and infrastructure (PLI incentives), MSME relief and credit schemes, digital and R&D investment, health sector capacity, export promotion, strategic FTAs, and services exports-framing these as structural levers to revive growth while remaining vigilant on public health.

Preferential market access expanded: CECPA establishes liberalised trade in goods and services with procedural and safeguard mechanisms.
The Comprehensive Economic Cooperation and Partnership Agreement establishes a bilateral framework to liberalise trade in goods and services, prescribing tariff concessions, rules of origin, customs procedures, and cooperation on technical barriers to trade and sanitary and phytosanitary measures. It provides preferential market access lists for covered products, commitments on services across identified sub sectors including movement of natural persons, and incorporates a dispute settlement framework. The Parties will negotiate an Automatic Trigger Safeguard Mechanism for a limited set of sensitive products within a specified post signature period.

Aircraft operating lease framework allows IFSC-based leasing as a regulated financial product, enabling domestic aviation finance activity.
IFSCA has established a regulatory framework enabling aircraft operating leases in IFSCs by treating aircraft lease transactions, including operating, financial and hybrid leases, as regulated financial products under the IFSC Authority Act; the Framework, issued following a December 2020 consultation paper and stakeholder feedback, sets out the mechanism for lessors and market participants to undertake operating lease business from IFSCs and is published as a Circular on the IFSCA website.

Trade liberalisation under CECPA expands market access and services commitments between India and Mauritius, while including safeguard mechanism.
The document records Cabinet approval to sign the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius, a limited bilateral trade framework covering Trade in Goods, Trade in Services, Rules of Origin, TBT, SPS, customs procedures, dispute settlement, movement of natural persons, telecom and financial services; it grants preferential market access lists for specified products and services, establishes an institutional mechanism to promote trade, and provides for negotiation of an Automatic Trigger Safeguard Mechanism for certain sensitive products to be concluded within two years, with the agreement entering into force on the first day of the month following signature.

Trade Balance narrows as combined exports and imports decline, shifting overall deficit markedly in April-January.
Combined merchandise and services exports for April-January 2020-21 are estimated lower than the prior year while overall imports fell more sharply, producing a substantially reduced overall deficit for the period. January 2021 merchandise exports rose in dollar and rupee terms, led by non-petroleum and non-gems & jewellery categories, whereas oil imports declined significantly and non-oil imports rose in January but fell cumulatively. Services receipts and payments for December 2020 declined year-on-year, with January 2021 service estimates provisional.

Port access approval enables diversion of rice exports to reduce anchorage congestion and support export capacity.
Approval for the use of the Kakinada deep-water port was granted to divert rice exports from a congested anchorage port. The decision, communicated after requests by exporters and the national export registration and supervision body, relies on the Andhra Pradesh Maritime Board's control of the facility and aims to streamline shipments, relieve anchorage congestion and maintain export capacity while following COVID-19 safety measures.

Local content requirements restrict procurement to qualifying domestic suppliers; global tenders now require higher-level approval.
The Public Procurement Preference requires bidding eligibility based on supplier local content categories, restricting participation to Class-I and Class-II local suppliers unless a Global Tender Enquiry is approved; where sufficient local capacity exists only Class-I suppliers may bid. The Department of Expenditure amended procurement rules to require competent authority approval before issuing global tenders beyond prescribed thresholds, and sectoral measures (telecom, railways) and a Production Linked Incentive scheme support domestic production and procurement preference.

Net Foreign Exchange obligation for SEZ/EOU units drives export compliance alongside new RoDTEP and facilitation measures.
SEZ and EOU units are subject to a Net Foreign Exchange obligation calculated cumulatively over five years from commencement of production; government measures to support exports include extension of the Foreign Trade Policy and Interest Equalization Scheme, launch of the Remission of Duties and Taxes on Exported Products (RoDTEP), a Common Digital Platform for Certificates of Origin, an Agriculture Export Policy, promotion of Champion Services Sectors, district export hub initiatives, enhanced trade promotion by missions, and COVID era financial relief for exporters, especially MSMEs.

Agriculture export policy promotes export diversification and MoUs to develop clusters, strengthen compliance and benefit farmers.
APEDA has signed MoUs with AFC India Limited and the National Cooperative Union of India to implement the Agriculture Export Policy by developing clusters, providing technical interventions for organic and residue free production, establishing common processing centres, issuing end to end value chain guidelines, facilitating certifications, and building capacity of cooperatives, SHGs and tribal farmer groups to enhance export compliance, value addition and farmer price realization.

SEZ policy: duty free enclave status enables import freedoms and tax incentives while requiring cumulative positive foreign exchange.
The SEZ framework designates a duty free enclave treated as outside India's customs territory, allowing duty free imports without licences, exemption from routine customs examination, authorisation of manufacturing and services, freedom for subcontracting, grant of tax benefits to developers and units, domestic sales subject to customs duty and an obligation for units to achieve Positive Net Foreign Exchange cumulatively over five years.

Cereal export growth: surge in rice, wheat and coarse grain shipments sustained through export promotion and COVID safe measures.
India's cereal exports rose markedly in April-December 2020, increasing their share of APEDA scheduled product exports. Non Basmati rice showed the largest percentage growth, Basmati rice maintained a significant share with Middle Eastern and European markets, wheat and other coarse cereals recorded strong gains, and principal export destinations are identified. The government and APEDA implemented COVID 19 safety and operational measures and established the Rice Export Promotion Forum to coordinate export promotion and logistics.

Economic relief package: targeted credit, social transfers and structural reforms to stabilise growth and support recovery.
The government responded to pandemic-induced GDP contraction with a comprehensive AtmaNirbhar Bharat package combining immediate social protection, expanded employment programmes, enhanced state borrowing capacity, and targeted liquidity and credit measures for MSMEs, NBFCs and farmers (including the Emergency Credit Line Guarantee Scheme, partial credit guarantees and NABARD working capital), alongside structural reforms in MSME definition, agricultural deregulation, FDI liberalisation, and infrastructure and financial-sector initiatives to support recovery and medium-term resilience.