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India ↔ India

New Delhi · Indian Rupee (INR) · pop. 1,428M (1.43B) · GDP USD 3.94T (FY2025 nominal) (5th largest globally · 3rd by PPP). Member: BIMSTEC · IORA · SCO · BRICS · G20. WTO member.

1.6T+/yr (total trade)Bilateral · +8.4% CAGR FY20-25 · Hub for 273 FTAs
India-Australia ECTA — Live (April 2022)FTA status
13Seaports · JNPT (Nhava Sheva) primary
7Airports · New Delhi
Home base — AJG operates from India + UKFranchise · Mumbai, Delhi NCR, Bengaluru

India is the world's 5th largest economy and the home market AJG works from. Total merchandise + services trade FY2025 USD 1.6T+. 13 major ports, 24 SEZ-led free-trade zones, 273 trade agreements covering preferential access to 50+ economies. The platform aggregates the full operational surface — DGFT, RBI, customs, FSSAI, BIS, CDSCO — into a single browseable graph.

Bilateral flows

India ↔ India · trade flows.

India exports →

Outbound to India

  • Petroleum products USD 95B/yr — the largest single export category
  • Engineering goods USD 110B/yr — vehicles, machinery, components
  • Pharmaceuticals USD 28B/yr — generics + APIs to 200+ countries
  • Gems and jewellery USD 32B/yr — Bharat Diamond Bourse + Surat polishing
  • IT services USD 195B/yr — services exports, the largest single export bucket
  • Textiles & apparel USD 36B/yr — RMG, cotton fabric, technical textiles
  • Agri-products USD 50B/yr — rice, marine, spices, sugar, dairy
  • Chemicals USD 30B/yr — organic + inorganic chemicals
  • Iron & steel USD 12B/yr — JSW, Tata, SAIL primary

India imports ←

Inbound from India

  • Crude petroleum USD 165B/yr — 87% of consumption
  • Gold USD 45B/yr — second largest single line after oil
  • Electronics USD 70B/yr — semiconductors, displays, components
  • Coal USD 32B/yr — coking + thermal
  • Machinery USD 50B/yr — capital goods for manufacturing
  • Edible oils USD 18B/yr — palm + soya + sunflower
  • Fertiliser USD 12B/yr — phosphates + potash
  • Plastics & polymers USD 16B/yr — PE, PP, PVC

Trade data is indicative. Verify current figures at dgft.gov.in and trade.ec.europa.eu before commercial use.

FTA status

Free trade agreement landscape.

India ↔ India

India-Australia ECTA — Live (April 2022)

India-UAE CEPA — Live (May 2022)

India-EFTA TEPA — Concluded (March 2024 ratification pending)

India-Mauritius CECPA — Live

India-Korea CEPA — Live (with renegotiation in progress)

India-Japan CEPA — Live

India-ASEAN AIFTA — Live (under review)

India-Sri Lanka FTA — Live

India-Singapore CECA — Live

India-Malaysia CECA — Live

India-EU FTA — Negotiating (active, target 2025-26)

India-UK FTA — Negotiating

India-Oman FTA — Negotiating

India-Peru FTA — Negotiating

SAFTA — Live (South Asian framework)

BIMSTEC FTA — Negotiating

Regulatory

Compliance requirements.

DGFT (Foreign Trade Policy)
IEC mandatory for all exports/imports. EPCG, Advance Authorisation, RoDTEP, RoSCTL schemes for export incentives. ICEGATE single-window for customs.
Directorate General of Foreign Trade · Ministry of Commerce
Customs
Customs Act 1962. Duty structure: BCD + AIDC + SWC + IGST. Project import + tariff concessions for capital goods. Bonded manufacturing under Section 65.
Central Board of Indirect Taxes and Customs (CBIC)
RBI Foreign Exchange
FEMA 1999 framework. Liberalised Remittance Scheme (LRS) for individuals. ODI (Overseas Direct Investment) for corporates. EDPMS for export realisation tracking.
Reserve Bank of India
SEBI
Securities Contracts (Regulation) Act + SEBI Act. FPI registration for foreign investors. Listing obligations + disclosure. Insider trading regulations.
Securities and Exchange Board of India
FSSAI
Food safety + standards for all imports + exports of food products. Mandatory FSSAI registration / licensing.
Food Safety and Standards Authority of India
BIS
Mandatory ISI mark for 380+ products. Compulsory Registration Scheme (CRS) for electronics. ISO + Quality Management System certifications.
Bureau of Indian Standards
CDSCO
Drug regulator. CDSCO approval for pharmaceutical imports + exports. CT licence for clinical trials. WHO-GMP audit equivalence for pharmaceutical manufacturers.
Central Drugs Standard Control Organisation
GSTN
GST framework — IGST on imports, refundable on exports under LUT or rebate. Input Tax Credit on capital goods + raw materials.
Goods and Services Tax Network
Maritime infrastructure

Major seaports · India.

Port Location Annual TEU Notes
JNPT (Nhava Sheva) Mumbai-Navi Mumbai 5.6M TEU/yr India's largest container port — 50%+ of all containerised exports
Mundra (Adani) Gujarat — Kachchh district 7.4M TEU/yr India's largest private port — handles bulk + container + auto + LNG
Chennai Tamil Nadu 1.5M TEU/yr East coast container gateway — Tamil Nadu industrial hinterland
Kandla (Deendayal) Gujarat Bulk/breakbulk India's largest dry bulk port — petroleum, fertiliser, edible oils
Visakhapatnam Andhra Pradesh Mixed cargo East coast oil + container + iron-ore + steel hub
Tuticorin (V.O.C.) Tamil Nadu Container South India deep-water container terminal
Cochin Kerala Container + bulk Indian Ocean transhipment via the Vallarpadam terminal
Paradip Odisha Bulk Iron-ore, coal, petroleum bulk gateway
Kolkata + Haldia West Bengal Mixed Hugli river port system serving NE India + Nepal/Bhutan transit
New Mangalore Karnataka Mixed Iron-ore, coffee, cashew, granite gateway for the western interior
Mormugao Goa Bulk Iron-ore + coal terminal
Ennore (Kamarajar) Tamil Nadu Energy + auto India's first corporatised major port — coal + LNG + auto
Vizhinjam Kerala New (2024) India's first deep-water transhipment terminal — operational from late 2024
Air freight infrastructure

Cargo airports · India.

Airport IATA Cargo (MT/yr) India connections
Indira Gandhi International (DEL) New Delhi 1.2M tonnes/yr India's primary international cargo gateway — north + west India hinterland
Chhatrapati Shivaji Maharaj (BOM) Mumbai 0.95M tonnes/yr India's primary financial-capital gateway — pharma, gems, perishables
Kempegowda International (BLR) Bengaluru 0.45M tonnes/yr IT, electronics, perishables — South India tech hub gateway
Rajiv Gandhi International (HYD) Hyderabad 0.18M tonnes/yr Pharma + biotech logistics — vaccine cold-chain hub
Chennai International (MAA) Chennai 0.42M tonnes/yr Auto components + electronics + textiles — TN industrial belt
Netaji Subhas Chandra Bose (CCU) Kolkata 0.13M tonnes/yr East India + NE region + Bangladesh transit gateway
Cochin International (COK) Kochi 0.07M tonnes/yr Spices + marine + cashew — Kerala production hub
Commercial geography

Where the deals get done.

Maharashtra

Mumbai

Financial capital; petrochem, pharma, gems, IT, BFS

Delhi

Delhi NCR

Auto components, garments, chemicals, capital-goods, services

Karnataka

Bengaluru

IT services + product, biotech, electronics, aerospace

Tamil Nadu

Chennai

Auto, electronics, leather, textiles, IT services

Telangana

Hyderabad

Pharma + biotech, IT, gems

Maharashtra

Pune

Auto + auto-components, IT, manufacturing

Gujarat

Ahmedabad

Textiles, pharma, chemicals, gems, automobiles (Sanand)

Gujarat

Surat

Diamond polishing (90% global), MMF textiles

Tamil Nadu

Coimbatore

Cotton textiles, engineering, motors

West Bengal

Kolkata

Jute, leather, tea, engineering, pharma

Market entry · checklist

Before you ship · India.

REQUIRED

IEC (Importer Exporter Code)

Mandatory 10-digit code from DGFT — required for any export/import transaction.

REQUIRED

GSTIN (GST Registration)

Mandatory for any business above turnover threshold (INR 40L for goods / INR 20L for services).

REQUIRED

Industry-specific licences

BIS/ISI for products under mandatory certification, FSSAI for food, CDSCO for pharma, EPRT for electronics, etc.

REQUIRED

Bank account + AD Code

Authorised Dealer (AD) Code linked to your bank account is required for forex transactions and EDPMS realisation tracking.

RECOMMENDED

EPCG / Advance Authorisation

Capital-goods or input-material concessions for export-tied production — substantial duty savings if used correctly.

OPTIONAL

SEZ unit registration

For 100% export-oriented operations — full duty exemption on imports + 50% income-tax holiday for first 5 years.

OPTIONAL

MOOWR Section 65 bonding

Bonded manufacturing within domestic-tariff-area — defer customs duty until clearance to domestic market.

REQUIRED = legally mandatory · RECOMMENDED = strongly advised · OPTIONAL = sector-specific.

Live mandate opportunities

India ↔ India · what's open right now.

Mandate Commission Context
Pharma APIs USD 28B/yr global trade · India 18% share Generic-formulation + bulk-API exports — China-plus-one tailwind
Electronics manufacturing PLI scheme · USD 25B/yr by 2026 iPhone assembly + components ramping up · India is now a global manufacturing base
Engineering goods USD 110B/yr · 11% global growth tier Auto-components, machinery, fabricated metals — diversifying buyer base
Renewable energy components India to reach 500 GW by 2030 Solar modules, wind components, energy storage — large domestic market + export
IT services USD 195B/yr · highest globally Software services, GCC operations, GenAI offshore delivery — broadening to non-English markets
Defence exports USD 2.4B in FY24 · target USD 5B by 2025 Tejas, BrahMos, components, ammunition — government push under Make-in-India
Agri exports USD 50B/yr Rice (basmati + non-basmati), marine, spices, dairy, processed food
Tourism & hospitality USD 47B inbound by 2030 (target) Inbound + domestic — capitalising on G20 + cricket world cup brand lift

Submit a India mandate →

Corridor risk framework

Risks · assessment · mitigation.

Risk Assessment Mitigation
Counterparty payment risk (export) Use ECGC cover for buyer credit risk. LC at sight or D/P for first 2-3 transactions. Bank-to-bank reference checks. ECGC for risk cover; bank reference letters; site visits before scaling.
Regulatory delay (BIS, FSSAI, CDSCO) Plan certification timelines — BIS 4-12 weeks, FSSAI 30-60 days, CDSCO 6-9 months for new molecules. Engage approved liaison consultants; start certification before contract signing.
Currency volatility (export realisation) INR has weakened ~3% against USD per year on average — favourable for exporters but plan FX hedging on large contracts. Forward contracts / EEFC accounts; price indexed to FX where contractually feasible.
Customs valuation disputes CBIC may dispute declared values for related-party transactions (transfer pricing) or where market-rate diverges sharply. Maintain robust import-price documentation; pre-clearance provisional rulings for certainty.
Quality + RoO compliance for FTA Wrong RoO claim disqualifies the entire shipment from preference + may trigger penalties. Use AJG's FTA preference checker + RoO calculator before claiming preferential origin.
Power + logistics disruption Monsoon disruption (Jun-Sep) affects port operations + road transport in coastal states. Build seasonality into delivery timelines; use multiple-port contingency for critical shipments.
3 Ps · viability analysis

Possibility · probability · plausibility.

Possibility

Is this corridor structurally viable?

Yes — India is the largest single market in our coverage and the operational hub for outbound trade across 196 destinations.

Probability

How likely to generate mandates?

High for any well-defined sourcing or distribution mandate — India's manufacturing diversity covers virtually every HS chapter from agri to space.

Plausibility

Does the commercial logic hold?

India's position as the world's 5th largest economy + 3rd by PPP, with the largest English-speaking workforce and the deepest engineering talent pool, makes the bilateral case essentially universal.

Marketing mix · 10P analysis

The corridor through a 10P lens.

Product

Across 99 HS chapters — strongest in pharma (28B), engineering goods (110B), petroleum products (95B), gems (32B), agri (50B), IT services (195B), textiles (36B).

Price

Indian manufacturing is structurally 25-50% below OECD-equivalent for most categories on FOB basis. Quality variance is the operational lever, not nominal cost.

Place

JNPT, Mundra, Chennai, Cochin (sea); DEL, BOM, BLR, HYD (air). Inland: Delhi NCR, Mumbai-Pune, Bengaluru-Chennai, Ahmedabad-Surat-Vadodara industrial belts.

Promotion

EPCs (export promotion councils — APEDA, MPEDA, PHARMEXCIL, EEPC, SRTEPC, GJEPC), FICCI/CII overseas missions, embassy commercial wings, India International Trade Fair, IIPM, CII's SME-Connect.

People

Vinod Kumar Jain — India principal (Panchkula). Amit Jain — international principal (London).

Process

Three P filter (Possibility / Probability / Plausibility) → vertical and corridor qualification → NCNDA introduction → KYC + sample → supply agreement → mandate execution → commission realisation.

Physical Evidence

BIS/FSSAI/CDSCO/EPRT compliance certificates, GMP audits, COO + EUR.1/REX where FTA applies, commercial documentation, SOP-backed execution audit trail.

Partners

FICCI, CII, ASSOCHAM, FIEO, EEPC, PHARMEXCIL, APEDA, MPEDA, GJEPC, SRTEPC, AEPC. State industry departments. EXIM Bank. ECGC. RBI authorised dealer banks.

Performance

20-40 outbound mandates/yr (sourcing) + 10-20 inbound (distribution) targeted across all corridors. Commission 3-8% of contract value depending on complexity and scale.

Purpose

India is AJG's home market and the operational baseline. The platform exists because the founders identified that India's outbound trade graph is poorly served by templated marketing copy — and that the granular operational knowledge needed to actually move goods across borders has not been adequately compiled in a single browseable place.

Practitioner intelligence

What works · what doesn't.

✓ Success conditions

What works

  • Treating India as a graph of 28 states + 8 UTs with sharply different industrial concentrations rather than a single market.
  • Working through state-level industry associations + EPCs rather than only national bodies — much higher signal-to-noise.
  • Pre-clearing all certifications (BIS, FSSAI, CDSCO, EPRT) before approaching counterparties — saves 60-90 days of post-contract delays.
  • Using SEZs or MOOWR Section 65 bonded manufacturing for export-oriented operations — substantial duty + tax savings.
  • Hedging large FX exposure via forwards or EEFC retention — INR depreciation works for exporters but downside protection matters for cost-plus contracts.

✗ Failure modes

What doesn't work

  • Approaching the country as one undifferentiated market — every state has its own industrial cluster and policy mix.
  • Skipping the EPC channel — costs you visibility into government export schemes that materially affect competitiveness.
  • Underestimating BIS/FSSAI/CDSCO certification timelines — these can dominate the project schedule for regulated categories.
  • Building bilateral-only strategies — India's 273 FTAs create multilateral routing options that are often the cheaper or duty-free path.
  • Ignoring state-level GST + state-incentive variation — Tamil Nadu, Maharashtra, Karnataka, Gujarat each offer distinct incentive packages.
Frequently asked

FAQ · India ↔ India.

How does India's FTA framework affect my export pricing?

India has 273 trade agreements covering preferential access to 50+ economies. For any specific HS code + destination pair, AJG's FTA-eligibility checker will show whether you qualify for preferential duty + the rule-of-origin requirements. The savings are typically 5-15% of CIF value, occasionally more.

What's the typical timeline for setting up export operations from India?

IEC + GSTIN + bank AD code: 7-15 days. Industry-specific licences (BIS, FSSAI, CDSCO, EPRT): 30 days to 9 months depending on category. SEZ unit approval: 60-90 days. Allow 90-180 days end-to-end for first export shipment if certifications need to be obtained.

What are the key risks for first-time exporters from India?

Counterparty payment risk (mitigate with ECGC + LC at sight); FX volatility (use forwards or EEFC); regulatory delays in destination markets (plan certifications before contract); RoO miscalculation invalidating FTA claim.

What sectors does India have the strongest competitive position in?

Pharmaceuticals (especially generics + APIs), engineering goods, textiles + apparel, agri-products, IT + IT-enabled services, gems + jewellery, auto-components, refined petroleum products. The cost advantage is structural (25-50% below OECD); the quality variance is the operational lever to manage.

How do India's SEZs and MOOWR Section 65 bonded manufacturing differ?

SEZ requires the unit to be physically inside an SEZ + 100% export-oriented + 50% income-tax holiday for 5 years. MOOWR Section 65 allows bonded manufacturing anywhere in India (no SEZ requirement), with deferred customs duty until clearance to domestic market.

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Explore

India-EU FTA Guide FTA Savings Estimator Landed Cost Calculator HS Code Lookup EU Compliance Checker Active Mandates Document Library All 195+ Countries All 30+ Verticals Franchise Opportunities

Every Direction. Every Configuration. Commission-Only.

Not just bilateral India↔EU. AJG brokers all directions — Unilateral, Bilateral, Trilateral, Multilateral. Each route below is an active mandate configuration we work across both principals.

TRILATERAL
India → UAE → EU
Via: Dubai JAFZA
UAE CEPA gives 0% duty for Indian goods into UAE. UAE-EU trade then routes finished goods to Europe. Significant duty + logistics advantage.
💡 8–15% duty saving on select HS codes vs direct India→EU
Key Cities
India Uae Cepa → India Eu Fta →
TRILATERAL
India → UAE → Africa
Via: Dubai / Jebel Ali
UAE is the distribution hub for 54 African countries. Indian goods transit Dubai for onward shipping to East, West and Southern Africa.
💡 Reduced transit time + duty optimisation across 54 African markets
Key Cities
India Uae Cepa →
TRILATERAL
India → Singapore → ASEAN
Via: Singapore (CECA)
India-Singapore CECA enables preferential access. Singapore as ASEAN hub routes Indian goods and services across 10 ASEAN nations.
💡 ASEAN single market access (660M consumers) via Singapore hub
Key Cities
India Singapore Ceca → India Asean Aifta →
TRILATERAL
EU → India → GCC
Via: India (manufacturing & distribution)
European companies use India as a manufacturing/service hub to access the 6-country Gulf market. India value-add lowers cost vs direct EU→GCC.
💡 India manufacturing cost advantage + preferential GCC access
Key Cities
India Eu Fta → India Uae Cepa →
MULTILATERAL
India → UK → Commonwealth
Via: London
India-UK FTA (when in force) unlocks reciprocal access. UK serves as gateway to Commonwealth 54 nations — shared legal & financial frameworks.
💡 Unified legal framework; English language; Commonwealth trade preference
Key Cities
India Uk Fta →
MULTILATERAL
India ↔ Africa ↔ EU
Via: Multiple hubs
India supplies pharma, textiles, FMCG to Africa. EU invests in African infrastructure. India bridges EU-Africa by providing manufactured goods at accessible price points.
💡 Africa Continental Free Trade Area (AfCFTA) + India-EU FTA combined coverage
Key Cities
India Eu Fta → Afcfta Agreement →
TRILATERAL
India → Japan → Pacific
Via: Tokyo / Osaka
India-Japan CEPA enables preferential trade. Japan acts as gateway for Indian goods and services into East Asia, Southeast Asia and Pacific markets.
💡 Japan trusted brand → elevates India product positioning in Asian markets
Key Cities
India Japan Cepa →
MULTILATERAL
India ↔ GCC ↔ Africa
Via: Dubai / Riyadh
GCC countries (particularly UAE & Saudi) invest heavily in Africa. India supplies goods and services to these GCC-Africa corridors, creating trilateral value chains.
💡 GCC sovereign wealth invested in Africa infrastructure creates procurement opportunities for India
Key Cities
India Uae Cepa → India Gcc Fta →
MULTILATERAL
EU ↔ India ↔ ASEAN
Via: Singapore / India
EU companies use India as manufacturing hub and gateway to ASEAN. India pharma APIs formulated for EU, re-routed for ASEAN. Full trilateral value chain.
💡 Three-way FTA coverage: EU-India-ASEAN serving 2B+ consumers
Key Cities
India Eu Fta → India Singapore Ceca →
MULTILATERAL
India ↔ Russia ↔ Central Asia
Via: INSTC (International North-South Transport Corridor)
INSTC provides 7,200km route from India (Mumbai) via Iran, Caspian Sea, Russia to Europe. Reduces transit time by 30 days vs Suez Canal. Central Asian markets accessed en route.
💡 40% shorter route than Suez for India-Central Asia-Russia-Northern Europe trade
Key Cities
MULTILATERAL
India ↔ UAE ↔ Asia-Pacific
Via: Dubai (CEPA hub)
Dubai connects Indian goods westward to Africa/EU and eastward to Asia-Pacific. India as manufacturing hub + Dubai as distribution hub + Singapore as ASEAN gateway = full East-West…
💡 Full East-West trade connectivity via India-UAE CEPA axis
Key Cities
India Uae Cepa → India Singapore Ceca →
Submit Multilateral Mandate → View All Active Mandates 36 Trade Corridors
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