The government is working to ease export norms for certain products with dual-use, such as chemicals, for companies with a proven track record. The Director General of Foreign Trade (DGFT) emphasised the sensitivity of dual-use goods and technologies, which can cause disruptions if misused. These goods include high tech equipment, chemicals, biotechnology, defense, aerospace, electronics, telecommunications, and information security.
The Bureau of Economic Analysis reported that the United States had a monthly deficit of $12.8 billion with Mexico in July and an $88 billion deficit in the first half of 2023.
He said there are challenges on the global trade front due to the ongoing geo-political situation, concerns on inflation, and slowing growth in key economies.