This article covers trade and investment between India and Liberia: the bilateral trade figures, the main goods traded, the duty-free access Liberia has to the Indian market, Indian investment in Liberia, and the business events that Liberian ministers have attended in India. It is based on the MEA brief of July 2026, and all figures are as given in that brief.

According to the MEA brief of July 2026, bilateral trade has seen steady growth in recent years, with India being one of Liberia's key trading partners, except in 2025-26, when there was a marginal decline. Bilateral trade stood at US$390 Million in 2025-26. The brief attributes the decline mainly to supply chain disruption and shipment delays owing to the West Africa crisis.

Trade figures by year

The brief gives the following figures, in US$ million, sourced from the Ministry of Commerce and Industry, Government of India:

  • 2019-20: exports 219.52, imports 7.75, total 227.27, trade balance 211.77
  • 2020-21: exports 225.65, imports 6.95, total 232.60, trade balance 218.70
  • 2021-22: exports 247.05, imports 21.20, total 268.25, trade balance 225.85
  • 2022-23: exports 257.15, imports 26.80, total 283.95, trade balance 230.35
  • 2023-24: exports 243.29, imports 12.46, total 255.75, trade balance 230.83
  • 2024-25: exports 376.33, imports 20.39, total 396.72, trade balance 355.94
  • 2025-26 (April-March): exports 345.15, imports 44.91, total 390.06, trade balance 300.24

Exports are India's exports to Liberia and imports are India's imports from Liberia.

Main goods traded

India's main exports to Liberia are food stuff, particularly rice, engineering goods, pharmaceutical products, ceramic products, two and three wheelers, transport equipment, articles of steel, iron and aluminium, and plastic and rubber products. Imports from Liberia mainly include animal and vegetable fats and oils, metal scrap, wood and articles of wood, and natural rubber. The brief adds that the real level of India's exports to Liberia is much higher than the official figures, as many Indian products reach Liberia through Dubai and other African countries.

Duty-free access

The brief describes Liberia's inclusion in India's Duty-Free Tariff Preference (DFTP) Scheme in 2012 as an important feature of the trade relationship. It states that the scheme helps boost Liberian exports such as timber, vegetable oil and rubber. The DFTP provides zero duty and preferential market access to LDCs on more than 98% of India's tariff lines.

Indian investment in Liberia

The brief names several Indian or Indian-owned businesses in Liberia:

  • Arcelor Mittal, described as a PIO company invested in mining, has exported iron ore from the Liminco mine since July 2011. AFCONS Infrastructure Limited, part of the Shapoorji Pallonji (SP) Group, works in Liberia as a sub-contractor to Arcelor Mittal on the infrastructure components of its operations.
  • Sesa Goa, a subsidiary of Vedanta Resources, invested in Liberia by acquiring the $1.6 billion Western Cluster iron ore project. The project site consists of three iron ore deposits: Mano River, the western portion of the Bomi Hills and the never exploited Bea Mountain.
  • Star Cement Company and Sethi Ferro Fabrik Inc. are 100% Indian owned cement and steel plants owned by Sethi Brothers, which the brief describes as one of the leading business groups in Liberia. Star Cement is the second cement factory in Liberia after CEMENCO, and the Sethi Brothers also own plastic factories and bottling and recycling plants.
  • Jeety Rubber Liberia Limited Corporation (JRLLC), a 100% Indian owned rubber processing plant owned by Mr. Upjit Singh Sachdeva, is located at Weala, Margibi County. It has recently started production, initially of processed rubber for export, with tyres and other rubber products planned in later stages. In August 2024, JRLLC took over Salala Rubber Corporation, a subsidiary of Socfinaf S.A. and one of the largest rubber plantations in Liberia.

Business conclaves and trade visits

Liberian ministers and officials have regularly attended business events in India. The brief lists the following:

  • Dr. Richard Tolbert, Chairman of the National Investment Commission of Liberia, and Dr. Frederick Norkey, Deputy Minister of Commerce and Industry, attended the 5th CII-EXIM Bank Conclave on India-Africa Project Partnership in Delhi in March 2009.
  • Commerce Minister Ms. Miata Beysolow attended the 8th CII-EXIM Bank Conclave and the 2nd India-Africa Trade Ministers' Conference in March 2012.
  • Ms. Martha C Morris and Mr. Malayah Tamba Chieyoe, Deputy Ministers in the Ministry of Health, took part in the 19th CII India Africa Business Conclave in New Delhi on 20-23 August 2024.
  • Deputy Minister for Extension in the Ministry of Agriculture, Moses Gbanyan, attended World Food India 2024 in Delhi on 19-22 September 2024.
  • Minister of Commerce and Industry Ms. Magdalene Dagoseh attended the second edition of Sagarmanthan: The Great Oceans Dialogue in Mumbai on 27-29 October 2025.