This article covers trade and investment between India and Ecuador: the course of bilateral trade, the main goods exchanged, Indian companies operating in Ecuador, the sectors the brief identifies and the Joint Economic and Trade Committee. It also covers India's humanitarian donations and Quick Impact Projects in Ecuador. It draws on the MEA brief of July 2026 on India-Ecuador relations.

Bilateral trade

According to the MEA brief of July 2026, India-Ecuador trade "has seen rise and fall periodically". It experienced a slump from 2015 because the global fall in oil prices adversely affected Ecuador's economy.

Bilateral trade started to pick up from 2018. It stood at USD 614.60 million in 2019-20 and rose to USD 1.42 billion in 2022-23. The brief states that imports of crude oil from Ecuador made up more than 50% of bilateral trade by value.

Goods traded

India's main export items to Ecuador include vehicles, iron and steel, plastic, pharmaceutical products, aluminium, rubber, miscellaneous chemical products, organic chemicals and cotton.

India's main import items from Ecuador include mineral fuels, wood, cocoa, coffee, tea, spices, raw hides and skins, aluminium, zinc, miscellaneous manufactured articles, rubber, iron and steel, plastic and semiprecious stones.

Indian companies in Ecuador

The brief lists several Indian companies operating in Ecuador:

  • IT: Tech Mahindra, Tata Consultancy Services and Palazhi Engineering Limited
  • Pharmaceuticals: MSN Laboratories, CIPLA and SetaaPharma S.A.S
  • Agrochemicals: United Phosphorus Limited and Sharda Cropchem Limited
  • Automobiles and tractors: Hero MotoCorp, Bajaj Auto Limited, Mahindra, TVS Ecuador and Sonalika International Tractors Limited

Sectors and business interest

The brief states that in recent years several Indian Export Promotion Councils have expressed interest in expanding business ties with Ecuador. It notes growing demand in Ecuador for Indian pharmaceutical products and automobiles.

According to the brief, the mining and oil and gas sectors present opportunities, though ease of doing business in Ecuador is an impediment. In April 2018, the Ecuadorean Minister of Hydrocarbons, Mr. Carlos E. Pérez, attended the 16th Ministerial Meeting organised by the International Energy Forum in New Delhi.

Joint Economic and Trade Committee

In May 2017, the then Commerce Secretary visited Ecuador to take part in the first Joint Economic and Trade Committee (JETCO) meeting, in Guayaquil.

The second JETCO meeting was held on 21 September 2023, at which the two sides agreed to re-activate the PTA. As of the brief, a 3rd JETCO has been proposed in 2026.

Development assistance

India recently sent a donation of Hepatitis C medicines to Ecuador, according to the brief. As of the brief, another donation, of 50000 vials of Human Insulin and Firefighting Equipment, is under finalisation.

Five projects under Quick Impact Projects, as per the MoU signed in April 2026, are also under discussion with Ecuador.