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.
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.
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.
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.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has nominated Priyanka Mittal, the Director of KRBL (Khushi Ram & Behari Lal) Ltd, as the Co-Chair of the Saudi-India Business Council (SIBC).
Dr Siddeek Ahmed, the Chairman of Eram Holdings, has been appointed as the Chair of the Indian side of the SIBC.
The United States Trade Representative (USTR) has released the 38th annual “2026 Special 301 Report” to evaluate the Intellectual Property Rights (IPR) protection of global trading partners. India remains on the Priority Watch List along with 5 other nations.
Vietnam is designated as a Priority Foreign Country (PFC), which represents the highest level of scrutiny. Argentina and Mexico were moved to the Watch List following improvements in regulatory frameworks, while Bulgaria was removed from the report entirely.
The European Union (EU) was added to the report due to concerns regarding Geographical Indications (GI) and pharmaceutical legislation. It is to be noted that the review of Ukraine is suspended due to the ongoing conflict.
Union Minister Jitin Prasada has paid a two-day official visit to the Czech Republic to bolster bilateral trade, investment, and industrial cooperation. He co-chaired the 13th session of the India-Czech Republic Joint Commission for Economic Cooperation (JCEC) along with his Czech counterpart Jan Sechter in Prague, the capital of the Czech Republic.
The event witnessed the signing of the protocol of the 13th India-Czechia JCEC to formalize economic and industrial agreements. Additionally, the India-Czech Business Forum was inaugurated in Prague to promote mutual investment and strengthen Business-to-Business (B2B) linkages between the two countries.
Union Minister Jitin Prasada has paid a two-day official visit to the Czech Republic to bolster bilateral trade, investment, and industrial cooperation. He co-chaired the 13th session of the India-Czech Republic Joint Commission for Economic Cooperation (JCEC) along with his Czech counterpart Jan Sechter in Prague, the capital of the Czech Republic.
The event witnessed the signing of the protocol of the 13th India-Czechia JCEC to formalize economic and industrial agreements. Additionally, the India-Czech Business Forum was inaugurated in Prague to promote mutual investment and strengthen Business-to-Business (B2B) linkages between the two countries.
The 7th Joint Group of Customs (JGC) meeting between India and Bhutan was held in Munnar, Keralam. The session was co-chaired by Yogendra Garg, Special Secretary and Member (Customs) of the Central Board of Indirect Taxes and Customs (CBIC), and his Bhutanese counterpart Sonam Jamtsho.
India is the largest trading partner of Bhutan, accounting for 80% of the total trade volume of Bhutan. Bilateral trade between the two nations reached over $1.9 billion in FY25, showing a growth of more than 46% compared to FY24.
According to the government data, China has emerged as the largest trading partner of India for FY26, with total bilateral trade reaching $151.1 billion. The country has replaced the USA, which served as the primary trading partner of India for four consecutive years until FY25.
The trade deficit between India and China widened to $112.16 billion. During this period, the exports of India to China increased by 36.66% to $19.47 billion, while imports from China grew by 16% to $131.63 billion.
According to a report by the International Monetary Fund (IMF), the Gross Domestic Product (GDP) growth of India for FY27 is revised to 6.5% from the 6.4% growth rate estimated in the January outlook.
