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    August 15, 2026
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    August 15, 2026
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    August 15, 2026
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
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    August 15, 2026
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
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    Show AI Summary
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    Show AI Summary
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    August 15, 2026
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    Show AI Summary
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    August 14, 2026
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    Show AI Summary
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    Show AI Summary
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    Show AI Summary
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    Show AI Summary
    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
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    Show AI Summary
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    Show AI Summary
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    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    Show AI Summary
    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
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    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
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    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    Show AI Summary
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    UCO Bank launches IFSC Banking Unit at GIFT City
    Show AI Summary
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    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    Show AI Summary
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    August 13, 2026
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    Show AI Summary
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    August 13, 2026
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
    Show AI Summary
    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.

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      Customs, DGFT & SEZ

      INDIA’S FOREIGN TRADE: July 2022

      August 13, 2022

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      INDIA’S FOREIGN TRADE: July 2022

      India’s overall exports (Merchandise and Services) for July 2022 records a positive growth of 11.51 per cent over the same period last year

      India’s overall exports (Merchandise and Services combined) in July 2022* are estimated to be USD 61.18 Billion, exhibiting a positive growth of 11.51 per cent over the same period last year. Overall imports in July 2022* are estimated to be USD 82.22 Billion, exhibiting a positive growth of 42.90 per cent over the same period last year.

      Table 1: Trade during July 2022*

       

       

      July 2022

      (USD Billion)

      July 2021

      (USD Billion)

      Growth vis-à-vis July 2021 (%)

      Merchandise

      Exports

      36.27

      35.51

      2.14

      Imports

      66.27

      46.15

      43.61

      Trade Balance

      -30.00

      -10.63

      -182.10

      Services*

      Exports

      24.91

      19.36

      28.69

      Imports

      15.95

      11.39

      40.02

      Net of Services

      8.96

      7.97

      12.49

      Overall Trade (Merchandise+

      Services) *

      Exports

      61.18

      54.87

      11.51

      Imports

      82.22

      57.54

      42.90

      Trade Balance

      -21.04

      -2.67

      -688.49

      * Note: The latest data for services sector released by RBI is for June 2022. The data for July 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-July 2021 has been revised on pro-rata basis using quarterly balance of payments data.

      Fig 1: Overall Trade during July 2022*

      India’s overall exports (Merchandise and Services combined) in April-July 2022* are estimated to be USD 253.84 Billion, exhibiting a positive growth of 22.85 per cent over the same period last year. Overall imports in April-July 2022* are estimated to be USD 317.40 Billion, exhibiting a positive growth of 47.68 per cent over the same period last year. 

      Table 2: Trade during April-July 2022*

       

       

      April-July 2022

      (USD Billion)

      April-July 2021

      (USD Billion)

      Growth vis-à-vis April-July 2021 (%)

      Merchandise

      Exports

      157.44

      131.06

      20.13

      Imports

      256.43

      173.12

      48.12

      Trade Balance

      -98.99

      -42.07

      -135.31

      Services*

      Exports

      96.40

      75.57

      27.56

      Imports

      60.96

      41.80

      45.85

      Net of Services

      35.44

      33.77

      4.93

      Overall Trade (Merchandise+

      Services) *

      Exports

      253.84

      206.63

      22.85

      Imports

      317.40

      214.92

      47.68

      Trade Balance

      -63.55

      -8.29

      -666.23

      * Note: The latest data for services sector released by RBI is for June 2022. The data for July 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-July 2021 has been revised on pro-rata basis using quarterly balance of payments data.

      Fig 2: Overall Trade during April-July 2022*

      MERCHANDISE TRADE

      • Merchandise exports in July 2022 were USD 36.27 Billion, as compared to USD 35.51 Billion in July 2021, exhibiting a positive growth of 2.14 per cent.
      • Merchandise imports in July 2022 were USD 66.27 Billion, which is an increase of 43.61 per cent over imports of USD 46.15 Billion in July 2021.
      • The merchandise trade deficit in July 2022 was estimated at USD 30 Billion as against USD 10.63 Billion in July 2021, which is an increase of 182.10 per cent.

      Fig 3: Merchandise Trade during July 2022

      • Merchandise exports for the period April-July 2022 were USD 157.44 Billion as against USD 131.06 Billion during the period April-July 2021, registering a positive growth of 20.13 per cent.
      • Merchandise imports for the period April-July 2022 were USD 256.43 Billion as against USD 173.12 Billion during the period April-July 2021, registering a positive growth of 48.12 per cent.
      • The merchandise trade deficit for April-July 2022 was estimated at USD 98.99 Billion as against USD 42.07 Billion in April-July 2021, which is an increase of 135.31 per cent.

      Fig 4: Merchandise Trade during April-July 2022

      • Non-petroleum and non-gems & jewellery exports in July 2022 were USD 26.62 Billion, registering a positive growth of 1.55 per cent over non-petroleum and non-gems & jewellery exports of USD 26.21 Billion in July 2021.
      • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 38.45 Billion in July 2022 with a positive growth of 42.91 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.90 Billion in July 2021.

      Table 3: Trade excluding Petroleum and Gems & Jewellery during July 2022

       

      July 2022

      (USD Billion)

      July 2021

      (USD Billion)

      Growth vis-à-vis July 2021 (%)

      Non- petroleum exports

      29.90

      29.67

      0.76

      Non- petroleum imports

      45.14

      33.74

      33.77

      Non-petroleum & Non Gems & Jewellery exports

      26.62

      26.21

      1.55

      Non-petroleum & Non Gems & Jewellery imports

      38.45

      26.90

      42.91

      Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones 

      Fig 5: Trade excluding Petroleum and Gems & Jewellery during July 2022

      • Non-petroleum and non-gems & jewellery exports during April-July 2022 was USD 110.47 Billion, an increase of 10.81 per cent over non-petroleum and non-gems & jewellery exports of USD 99.69 Billion in April-July 2021.
      • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 147.56 Billion in April-July 2022, recording a positive growth of 36.94 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 107.75 Billion in April-July 2021.

      Table 4: Trade excluding Petroleum and Gems & Jewellery during April-July 2022

       

      April-July 2022

      (USD Billion)

      April-July 2021

      (USD Billion)

      Growth vis-à-vis April-July 2021 (%)

      Non- petroleum exports

      123.98

      112.32

      10.38

      Non- petroleum imports

      174.40

      129.81

      34.35

      Non-petroleum & Non Gems & Jewellery exports

      110.47

      99.69

      10.81

      Non-petroleum & Non Gems & Jewellery imports

      147.56

      107.75

      36.94

      Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

      Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-July 2022

      SERVICES TRADE

      • The estimated value of services export for July 2022* is USD 24.91 Billion, exhibiting a positive growth of 28.69 per cent vis-a-vis July 2021 (USD 19.36 Billion).
      • The estimated value of services import for July 2022* is USD 15.95 Billion exhibiting a positive growth of 40.02 per cent vis-à-vis July 2021 (USD 11.39 Billion).
      • The services trade balance in July 2022* is estimated at USD 8.96 Billion, which is an increase of 12.49 per cent over July 2021 (USD 7.97 Billion).

      Fig 7: Services Trade during July 2022*

      • The estimated value of services export for April-July 2022* is USD 96.40 Billion, exhibiting a positive growth of 27.56 per cent vis-a-vis April-July 2021 (USD 75.57 Billion).
      • The estimated value of services imports for April-July 2022* is USD 60.96 Billion exhibiting a positive growth of 45.85 per cent vis-à-vis April-July 2021 (USD 41.80 Billion).
      • The services trade balance for April-July 2022* is estimated at USD 35.44 Billion as against USD 33.77 Billion in April-July 2021, which is an increase of 4.93 per cent.

      Fig 8: Services Trade during April-July 2022*

      Table 5: Export Growth in Commodity Groups in July 2022

      Sl. No.

      Commodities

      (Values in Million USD)

      % Change

      JUL'21

      JUL'22

      JUL'22

       

      Commodity groups exhibiting positive growth

      1

      Tobacco

      65.16

      113.48

      74.16

      2

      Electronic Goods

      1244.20

      1817.64

      46.09

      3

      Coffee

      71.19

      93.39

      31.18

      4

      Rice

      710.94

      930.50

      30.88

      5

      Cereal preparations & miscellaneous processed items

      182.45

      227.18

      24.52

      6

      Oil Meals

      65.45

      80.64

      23.21

      7

      Oil seeds

      76.58

      92.68

      21.02

      8

      Meat, dairy & poultry products

      256.39

      308.81

      20.45

      9

      Leather & leather products

      387.72

      464.38

      19.77

      10

      Ceramic products & glassware

      295.97

      332.28

      12.27

      11

      Tea

      70.07

      78.33

      11.79

      12

      Petroleum Products

      5840.02

      6376.21

      9.18

      13

      Organic & Inorganic Chemicals

      2426.09

      2620.85

      8.03

      14

      Fruits & Vegetables

      220.06

      234.00

      6.33

      15

      Other cereals

      96.78

      101.98

      5.37

      16

      Spices

      338.42

      343.53

      1.51

      17

      Marine Products

      701.60

      711.87

      1.46

      18

      Mica, Coal & Other Ores, Minerals including processed minerals

      406.45

      409.77

      0.82

      Sl. No.

      Commodities

      (Values in Million USD)

      % Change

      JUL'21

      JUL'22

      JUL'22

       

      Commodity Groups exhibiting negative growth

      19

      Iron Ore

      363.20

      20.58

      -94.33

      20

      Handicrafts excl. hand made carpet

      189.04

      121.23

      -35.87

      21

      Cotton Yarn/Fabs./made-ups, Handloom Products etc.

      1315.42

      944.92

      -28.17

      22

      Cashew

      36.68

      26.92

      -26.61

      23

      Carpet

      158.23

      117.75

      -25.58

      24

      Man-made Yarn/Fabs./made-ups etc.

      486.91

      437.59

      -10.13

      25

      Gems & Jewellery

      3459.67

      3279.36

      -5.21

      26

      Plastic & Linoleum

      832.61

      803.25

      -3.53

      27

      Engineering Goods

      9545.20

      9346.52

      -2.08

      28

      Jute Mfg. including Floor Covering

      39.86

      39.17

      -1.73

      29

      Drugs & Pharmaceuticals

      2145.67

      2123.16

      -1.05

      30

      RMG of all Textiles

      1389.22

      1380.91

      -0.60

       Table 6: Import Growth in Commodity Groups in July 2022

      Sl. No.

      Commodities

      (Values in Million USD)

      % Change

      JUL'21

      JUL'22

      JUL'22

       

      Commodity Groups exhibiting positive growth

      1

      Silver

      11.76

      1108.86

      9329.08

      2

      Project goods

      42.00

      198.67

      373.02

      3

      Cotton Raw & Waste

      57.68

      193.87

      236.11

      4

      Coal, Coke & Briquettes, etc.

      1958.92

      5179.98

      164.43

      5

      Textile yarn Fabric, made-up articles

      142.36

      268.82

      88.83

      6

      Newsprint

      31.35

      58.21

      85.68

      7

      Petroleum, Crude & products

      12402.06

      21133.57

      70.40

      8

      Artificial resins, plastic materials, etc.

      1313.21

      2191.85

      66.91

      9

      Leather & leather products

      55.77

      91.05

      63.26

      10

       Vegetable Oil

      1369.58

      2015.77

      47.18

      11

      Metaliferrous ores & other minerals

      573.04

      824.99

      43.97

      12

      Fertilisers, Crude & manufactured

      1181.11

      1691.75

      43.23

      13

      Non-ferrous metals

      1297.09

      1815.39

      39.96

      14

      Wood &  Wood products

      469.43

      654.82

      39.49

      15

      Dyeing/tanning/colouring mtrls.

      269.85

      369.88

      37.07

      16

      Machinery, electrical & non-electrical

      2821.52

      3812.61

      35.13

      17

      Iron & Steel

      1336.51

      1727.91

      29.29

      18

      Fruits & vegetables

      174.57

      225.08

      28.93

      19

      Organic & Inorganic Chemicals

      2440.47

      3141.76

      28.74

      20

      Electronic goods

      5319.77

      6800.89

      27.84

      21

      Chemical material & products

      917.63

      1172.30

      27.75

      22

      Machine tools

      311.07

      385.98

      24.08

      23

      Pearls, precious & Semi-precious stones

      2628.17

      3214.10

      22.29

      24

      Pulp and Waste paper

      134.63

      155.93

      15.82

      25

      Professional instrument, Optical goods, etc.

      523.64

      593.57

      13.35

      26

      Transport equipment

      1331.39

      1371.71

      3.03

      Sl. No.

      Commodities

      (Values in Million USD)

      % Change

      JUL'21

      JUL'22

      JUL'22

       

      Commodity Groups exhibiting negative growth

      27

      Pulses

      162.03

      66.05

      -59.24

      28

      Sulphur & Unroasted Iron Pyrites

      29.39

      14.11

      -51.99

      29

      Gold

      4203.06

      2370.32

      -43.60

      30

      Medicinal & Pharmaceutical products

      795.31

      710.12

      -10.71

       Table 7: MERCHANDISE TRADE 

      EXPORTS & IMPORTS: (Rs. Crore)

      (PROVISIONAL)

       

      JULY

      APRIL-JULY

      EXPORTS (including re-exports)

       

       

      2021-22

      2,64,666.37

      9,69,332.85

      2022-23

      2,88,747.71

      12,24,231.62

      %Growth 2022-23/2021-22

      9.10

      26.30

      IMPORTS

       

       

      2021-22

      3,43,919.55

      12,81,020.08

      2022-23

      5,27,541.77

      19,95,937.36

      %Growth 2022-23/2021-22

      53.39

      55.81

      TRADE BALANCE

       

       

      2021-22

      -79,253.18

      -3,11,687.23

      2022-23

      -2,38,794.06

      -7,71,705.73

       Table 8: SERVICES TRADE

      EXPORTS & IMPORTS (SERVICES) : (US $ Billion)

      (PROVISIONAL)

      June 2022

      April-June 2022

      EXPORTS (Receipts)

      25.29

      71.49

      IMPORTS (Payments)

      15.77

      45.01

      TRADE BALANCE

      9.53

      26.48

       

       

       

      EXPORTS & IMPORTS (SERVICES): (Rs. Crore)

      (PROVISIONAL)

      June 2022

      April-June 2022

      EXPORTS (Receipts)

      1,97,466.28

      5,52,079.75

      IMPORTS (Payments)

      1,23,100.22

      3,47,617.89

      TRADE BALANCE

      74,366.06

      2,04,461.85

      Source: RBI Press Release dated 1st August 2022

      * Link for Quick Estimates

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