Piyush Goyal Announces India's $91.8 Billion Trade Push with China

Commerce Minister Piyush Goyal said on Monday that India is ready to deepen trade ties with China, following a 10.5% jump to $91.8 billion in first‑half trade. The announcement came after India concluded a trade agreement with the EU, which is set to open markets in 27 European countries.

Goyal met his Chinese counterpart in Yaoundé earlier this year and again in New Delhi during the BRICS summit in September, signalling a continued dialogue. He stressed that India seeks reciprocal markets worldwide, hoping to sell its goods and services on an even footing.

China supplies India with critical intermediate goods and raw materials, and Goyal said a judicial process exists if pricing on any item is questioned. He also noted China’s recent export controls on tunnelling equipment, which could affect infrastructure projects, and said the government would address the issue.

Trade data shows China has become India’s top partner in the current fiscal year, with bilateral trade rising 10.5% to $91.8 billion and the deficit expanding. India has also secured deals with the UK, New Zealand, Chile, Canada, Mexico, and is beginning talks with the South African Customs Union.

For a small textile exporter in Bhopal, the promise of easier access to Chinese markets means a chance to export its hand‑woven fabrics to Shanghai, a prospect that could lift dozens of families out of poverty.