India Import Export Guide 2026 — Everything You Need to Know
India is the world's 10th largest exporting nation and the 3rd largest importing nation by value. In FY 2024–25, India's total merchandise trade crossed ₹89 lakh crore, with exports at ₹35 lakh crore and imports at ₹54 lakh crore. For any Indian exporter or importer, staying updated with DGFT notifications, ITC (HS) codes, and foreign trade policy is essential to compliance and profitability.
How to Start Export Business from India
To start exporting from India you need: IEC (Import Export Code) from DGFT, GST registration, a current account in a bank authorised for forex, and registration with the relevant Export Promotion Council (EPC) for your product category. The IEC can be obtained online at dgft.gov.in within 1–2 working days for ₹500.
What is DGFT and Why It Matters
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce regulates India's foreign trade through the Foreign Trade Policy (FTP). DGFT issues notifications about export incentives (RoDTEP, RODTEP, EPCG scheme), import licenses, anti-dumping duties, and trade agreements. Every DGFT notification that changes export/import policy is published on dgft.gov.in — WiseSeva aggregates these automatically.
Key Export Incentive Schemes in 2026
- RoDTEP (Remission of Duties and Taxes on Exported Products) — Refunds embedded taxes not covered under other schemes. Rates notified category-wise via HS codes.
- EPCG (Export Promotion Capital Goods) — Import capital goods at 0% customs duty against export obligation of 6× the duty saved.
- Advance Authorisation — Duty-free import of inputs used in manufacture of export products.
- MEIS / Interest Equalisation Scheme — Subsidised interest rates for exporters on pre/post-shipment credit.
Top Commodities India Exports
India's top export commodities by value include petroleum products (₹3.89 lakh crore), engineering goods (₹4 lakh crore), gems and jewellery (₹2.23 lakh crore), pharmaceuticals (₹2.06 lakh crore), and textiles and garments (₹1.59 lakh crore). The USA, UAE, Netherlands, China, and Bangladesh are India's top 5 export destinations.
Custom Duty and GST on Imports
Every imported product attracts: Basic Customs Duty (BCD), Social Welfare Surcharge (SWS) at 10% of BCD, IGST at applicable GST rate, and in some cases anti-dumping duty or safeguard duty. The effective import duty is calculated on the CIF (Cost + Insurance + Freight) value. Use the ICEGATE portal or the Customs Tariff to determine the exact duty for any HS code.
