3rd edition of Trade Watch Quarterly for FY 2024-25:
NITI Aayog (National Institution for Transforming India) released the 3rd edition of its Trade Watch Quarterly report for Q3 of FY 2024–25 (October to December 2024). It offers a comprehensive analysis of India’s trade trends.
Key Findings of the Trade Watch Quarterly Report for Q3 of FY 2024–25:
- India’s merchandise exports grew by 3% in Q3 FY25, reaching USD 108.7 billion.
- Imports rose by 6.5%, totaling USD 187.5 billion.
- India’s services surplus amounted to USD 52.3 billion, driven by a 17% increase in services exports, reflecting the growing strength of India’s services sector on the global stage.
- High-tech products like aircraft, spacecraft, and parts saw a remarkable 200% growth year-on-year, further diversifying India’s export composition.
- Exports like electrical machinery and arms/ammunition are growing rapidly.
- These have expanded at a 10.6% compound annual growth rate (CAGR) since 2014
- India ranked 5th globally with USD 269 billion in Digitally Delivered Services (DDS) exports in 2024.
- The Q3 edition highlights shifts in US trade policies, creating both risks and opportunities. India has a tariff advantage over key competitors in the US, which opens up growth potential in sectors like pharmaceuticals, textiles, and electrical machinery.
