The agreement was formalised at the 28th St Petersburg International Economic Forum, with TV BRICS Chairman Ivan Polyakov and Agroexport Director Ilya Ilyushin signing the deal.
"China will approve the export application of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly," China's Ministry of Commerce said in a statement.
India's electronic manufacturing is expected to grow significantly and reach Rs 27.7 lakh crore by the financial year 2027-28 (FY28), according to a recent report by Antique Stock Broking.
India's cut and polished diamond (CPD) industry is set for another challenging fiscal year, with the recent report ICRA projecting a 7-10 per cent decline in exports in FY2026, following a 17% contraction in FY2025, weighed down by weak global demand and increasing competition from lab-grow
India's engineering goods exports experienced a marginal 0.82 per cent year-on-year dip in May 2025, to USD 9.89 billion, weighed down by escalating geopolitical tensions in the Middle East and West Asia, and a high statistical base from the previous year, according to a recent report by EEP
Union Minister of Commerce and Industry Piyush Goyal held key meetings with senior leaders of global companies to discuss ways to boost exports from India, enhance investments, and promote skill development in key sectors.
India must focus on the sectors in which it has a competitive edge over other countries and address the problems faced by the various stakeholders so that the country's exports can grow, Union Minister of Commerce and Industry Piyush Goyal said at the review meeting on the Production Linked
The ongoing conflict between Iran and Israel has severely disrupted India's Orthodox tea exports, particularly damaging Assam, the country's largest producer of Orthodox tea.
Government sources emphasised that India's national interests will remain paramount in ongoing negotiations, even as both nations work intensively to reach an interim deal before the deadline expires
Given that India has much higher tariffs than those imposed by the US, the impending bilateral trade agreement -- that would reduce tariffs-- is set to increase the US's exports to India more than vice versa, according to an analysis by Crisil.
"Our trade with both Iran and Israel, while important, constitutes a small share of our overall export-import basket. The government and industry are jointly monitoring developments to ensure minimal disruption," the exporters' body chief said.