{
  "id": 16775773,
  "title": "India to emerge as major exporter to China, ASEAN, get edge in US trade pact, says Piyush Goyal",
  "url": "https://urgent.news/2026/10/27/india-to-emerge-as-major-exporter-to-china-asean-get-edge-in-us-trade",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-27T17:48:44.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/foreign-trade/india-to-emerge-as-major-exporter-to-china-asean-get-edge-in-us-trade-pact-says-piyush-goyal/articleshow/135242679.cms"
  },
  "original_language": "en",
  "account": "Commerce and industry minister Piyush Goyal revealed on Monday that India will become a major exporter of goods and services to China and the ASEAN region in the years ahead. He expressed openness to promoting free and fair trade with every country. India would gain a comparative advantage over other nations in the US trade pact, Goyal stated. The minister also mentioned that negotiations for an Investment Protection Agreement with the European Union are ongoing, with legal changes required for an agreement on geographical indications. Amendments to these laws are planned in Parliament.\n\nGoyal discussed India's future trade ties with China, noting that China provides India with important intermediate goods and raw materials. In cases where fair play or pricing is not proper, there is an established judicial process for resolution. India welcomes suppliers to meet its growing needs. He also said that negotiations for a similar agreement with China could occur at some point in the future.\n\nThe minister stated that India is working to rebuild its relations with China but emphasized that the final outcome of this journey has not yet been determined. China remains India's second-largest trading partner, with bilateral trade rising 7.9% year-on-year to $127.7 billion in 2025-26. However, India's trade deficit widened to $99.19 billion from $85 billion in the previous year.\n\nRegarding China's new export controls on key machinery, including tunnel boring machines, Goyal said India would work on finding a solution. He also addressed exporters' concerns about vessels skipping Indian ports to go to Chinese ports, assuring shipping companies that there would be no reduction in shipping services to India. Goyal highlighted the rapid growth of India's exports.",
  "summary": "Commerce and Industry Minister Piyush Goyal highlighted India's potential to expand exports to China and ASEAN. Negotiations are underway for a trade pact with the United States that could provide India a comparative advantage. The country is also working towards an Investment Protection Agreement with the European Union. Goyal indicated that discussions for preferential trade agreements are…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Reuters Business via SCMP",
        "title": "China’s Defence Minister Dong Jun to miss Asean defence talks as fifth plenum convenes",
        "url": "https://urgent.news/2026/10/27/chinas-defence-minister-dong-jun-to-miss-asean-defence-talks-as-fifth",
        "published": "2026-10-27T12:12:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}