India could emerge as a major exporter of goods and services to China and the ASEAN region in the coming years, Commerce and Industry Minister Piyush Goyal said, reiterating the country’s commitment to free and fair trade.
Goyal said India welcomes suppliers from across the world, including China, to meet its growing industrial requirements, particularly for intermediate goods and essential raw materials. However, he stressed that India would address concerns over unfair pricing and trade practices through established legal procedures.
India-China Trade Rises 29%
Bilateral trade between India and China increased nearly 29% to $91.76 billion during April–September 2026-27, compared with $71.24 billion in the corresponding period last year, according to Commerce Ministry data cited in the report. The growth made China India’s largest trading partner during the first half of the financial year.
However, the widening trade deficit remains a concern. India’s trade deficit with China reached $99.19 billion in FY26, up from $85 billion in the previous financial year.
India Seeks Greater Market Access
Goyal expressed optimism about expanding Indian exports to China and the Association of Southeast Asian Nations (ASEAN), which includes Singapore, Thailand, Vietnam, Indonesia and Malaysia.
He said India is working to secure greater international market access for its goods and services on a reciprocal basis. The minister also referred to discussions with his Chinese counterpart in Cameroon and New Delhi as part of efforts to strengthen bilateral economic engagement.
Chinese Export Restrictions Raise Infrastructure Concerns
Addressing China’s export restrictions on tunnel boring machines and related equipment, Goyal said the government would work to resolve the issue. Such restrictions could affect major Indian infrastructure projects, including underground metro networks, high-speed railway corridors and strategically important tunnels.
India and China have gradually resumed engagement following years of strained relations after the 2020 Galwan Valley clashes.
The latest remarks underline India’s efforts to expand trade and export opportunities while ensuring fair competition and safeguarding domestic industrial interests.