Europe ยท Country profile
Latvia
India-Latvia trade corridor: $1.7B bilateral trade, $0.3B FDI into India.
$1.7B
Trade with India
+4.2% YoY
$922.0B
GDP
Nominal
$0.3B
FDI into India
Cumulative
-$0.5B
Trade balance
India deficit
Top exports to Latvia
- Refined petroleum
- Organic chemicals
- IT hardware
Top imports from Latvia
- Scientific instruments
- Machinery
- Aircraft parts
Trade corridor with India
2025: $1.7B ยท 5-yr CAGR 14.0%
Goods trade in USD billion, illustrative demo figures.
Latest Latvia stories
Trade5h ago5 min read
India-Latvia bilateral trade hits a new quarterly high
FDI8h ago6 min read
Latvia investors commit fresh capital to Indian manufacturing
Policy11h ago7 min read
Revised tariff schedule for India-Latvia goods notified
Technology14h ago3 min read
India and Latvia deepen cooperation on digital and AI standards
Policy and tariff watch
| Measure | Change | Status | Date | Alert |
|---|---|---|---|---|
| Import duty on engineering goods | 8% to 2% | In force | Jan 2026 | |
| Rules of origin certification | Digital certificates mandatory | Notified | Mar 2026 | |
| Pharma regulatory recognition | Mutual recognition under review | Consultation | Jun 2026 | |
| Agri products SPS standards | Revised residue limits | Proposed | Sep 2026 | |
| Trade agreement round | Round 4 of negotiations | Negotiating | Dec 2026 |
Upcoming events and delegations
Forum
India-Latvia Business Forum
Jan 2027 ยท New Delhi
Delegation
Trade delegation to Latvia
Mar 2027 ยท Latvia
Buyer meet
Latvia buyers-sellers meet
Apr 2027 ยท Mumbai
Policy
Joint working group on market access
Dec 2026 ยท Virtual
Opportunity sectors
๐ฆS08Banking & Financial Services20% projected demand growth๐กS13Communications25% projected demand growth๐ฐS18Drinking Water & Sanitation Engineering27% projected demand growthโกS23Energy & Sustainability28% projected demand growth๐S28Fisheries, Animal Husbandry18% projected demand growth๐ฅS33Health and Family Welfare13% projected demand growth