Source: PIB
Context: NITI Aayog released the fourth edition of its “Trade Watch Quarterly” report for Q4 of FY 2024–25 in New Delhi.
About Trade Watch Quarterly Report:
What it is?
- A flagship analytical publication by NITI Aayog that tracks India’s quarterly trade performance, covering both merchandise and services sectors.
Published by: NITI Aayog
Aim:
- To provide evidence-based insights on trade patterns, export competitiveness, and sectoral challenges.
- To guide policy interventions for strengthening India’s manufacturing base, boosting exports, and enhancing participation in global value chains (GVCs).
Key Features:
- Comprehensive Trade Analysis: Covers trends in merchandise, services, and regional trade; identifies key drivers and bottlenecks.
- Data-Driven Insights: Provides region-wise and product-wise trade breakdowns to support policy planning and trade negotiations.
Recent Trade Trends (FY25):
- Total Trade: $1.73 trillion (+6% YoY) — Exports: $823 billion, Imports: $908 billion.
- Services Exports: Reached a record $387.5 billion, led by IT, aviation, and financial services.
- Regional Trends:
- North America emerged as India’s top export market, accounting for 25% of exports (+25% YoY).
- EU, GCC, and ASEAN markets showed slower growth.
- Import Shifts:
- UAE overtook Russia as 2nd-largest supplier, mainly due to gold inflows under CEPA.
- Imports from China surged on higher demand for electronics and machinery.
