Commerce Minister Piyush Goyal says India supports free and fair trade, while unfair pricing will be addressed through established legal procedures.
Highlights
- India aims to become a major exporter of goods and services to China and ASEAN.
- Piyush Goyal says Chinese suppliers are welcome to meet India’s growing demand.
- India-China bilateral trade rose nearly 29% to $91.76 billion in April–September FY27.
- China emerged as India’s largest trading partner during the first half of FY27.
- India remains concerned about its widening trade deficit with China.
- Chinese export restrictions on tunnel boring machines could affect Indian infrastructure projects.
India Could Become Major Exporter to China and ASEAN, Says Piyush Goyal
New Delhi, October 27, 2026: 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 on Tuesday. He also reiterated India’s commitment to free and fair trade, indicating that Chinese suppliers would continue to play an important role in meeting the country’s growing industrial requirements.
Speaking to reporters during his two-day official visit, Goyal said India welcomes suppliers from different countries, including China, particularly for intermediate goods and essential raw materials.
However, he clarified that any concerns regarding unfair pricing or trade practices would be addressed through established legal procedures.
India-China Trade Rises 29%
According to Commerce Ministry data cited in the report, 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.
The increase made China India’s largest trading partner during the first half of the current financial year.
Despite expanding trade, India’s widening trade deficit with China remains a significant concern. The reported deficit reached $99.19 billion in FY26, compared with $85 billion in the previous financial year.
India Seeks Greater Market Access
Goyal said India is working to open international markets for its products and services on a reciprocal basis.
He expressed optimism that Indian businesses could significantly expand their presence in China and the Association of Southeast Asian Nations (ASEAN), which includes economies such as Singapore, Thailand, Vietnam, Indonesia and Malaysia.
The minister also referred to discussions with his Chinese counterpart in Cameroon and New Delhi, highlighting ongoing efforts to strengthen economic engagement.
Chinese Export Restrictions Raise Concerns
Responding to questions about China’s export restrictions on tunnel boring machines and related equipment, Goyal said the government would work on 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 signal India’s intention to strengthen trade relations while protecting domestic industries against unfair competition.
