India’s Q3 Trade Shows Growth Amid Global Shifts

15 Jul 2025 CW Team

Alongside a detailed analysis of India’s trade position, the report’s thematic section delves into recent changes in United States tariff structures, evaluating the implications for India’s export competitiveness and opportunities in key sectors.

In Q3 FY25, India’s merchandise exports rose by 3 per cent to USD 108.7 billion, while imports increased by 6.5 per cent to USD 187.5 billion. A strong services surplus of USD 52.3 billion—driven by 17 per cent growth in services exports—helped reduce the trade gap, highlighting India’s expanding strength in global services. Export composition remained broadly stable, with aircraft, spacecraft and related parts entering the top ten export categories, showing a year-on-year rise of over 200 per cent.

India was ranked the fifth-largest exporter of Digitally Delivered Services (DDS) in 2024, recording DDS exports of USD 269 billion. Since 2014, high-tech merchandise exports—particularly in electrical machinery and arms/ammunition—have seen steady growth, with a compound annual growth rate (CAGR) of 10.6 per cent.

The report’s thematic section outlines how the evolving US tariff regime may benefit India. With a relative tariff advantage over key competitors, Indian exporters are well-positioned to expand their share in the US market, particularly in pharmaceuticals, textiles, and electrical machinery. However, these gains will require agile, responsive policymaking to navigate a rapidly shifting global trade landscape.

Speaking at the launch, Dr Virmani commended the team behind the publication for its analytical rigour. He noted that India’s trade trajectory increasingly reflects structural improvements in competitiveness and innovation, positioning the country to leverage shifts in global trade dynamics—particularly with the US.

He emphasised that this edition comes at a crucial time, as geopolitical changes, technological advancements, and policy uncertainties reshape global trade. The report offers strategic insights and forward-looking recommendations to enhance India’s trade facilitation and participation in international markets.

Dr Arvind Virmani, Member of NITI Aayog, released the third edition of Trade Watch Quarterly on 14 July 2025 in New Delhi, covering India’s trade performance for Quarter 3 of FY25 (October–December 2024).Alongside a detailed analysis of India’s trade position, the report’s thematic section delves into recent changes in United States tariff structures, evaluating the implications for India’s export competitiveness and opportunities in key sectors.In Q3 FY25, India’s merchandise exports rose by 3 per cent to USD 108.7 billion, while imports increased by 6.5 per cent to USD 187.5 billion. A strong services surplus of USD 52.3 billion—driven by 17 per cent growth in services exports—helped reduce the trade gap, highlighting India’s expanding strength in global services. Export composition remained broadly stable, with aircraft, spacecraft and related parts entering the top ten export categories, showing a year-on-year rise of over 200 per cent.India was ranked the fifth-largest exporter of Digitally Delivered Services (DDS) in 2024, recording DDS exports of USD 269 billion. Since 2014, high-tech merchandise exports—particularly in electrical machinery and arms/ammunition—have seen steady growth, with a compound annual growth rate (CAGR) of 10.6 per cent.The report’s thematic section outlines how the evolving US tariff regime may benefit India. With a relative tariff advantage over key competitors, Indian exporters are well-positioned to expand their share in the US market, particularly in pharmaceuticals, textiles, and electrical machinery. However, these gains will require agile, responsive policymaking to navigate a rapidly shifting global trade landscape.Speaking at the launch, Dr Virmani commended the team behind the publication for its analytical rigour. He noted that India’s trade trajectory increasingly reflects structural improvements in competitiveness and innovation, positioning the country to leverage shifts in global trade dynamics—particularly with the US.He emphasised that this edition comes at a crucial time, as geopolitical changes, technological advancements, and policy uncertainties reshape global trade. The report offers strategic insights and forward-looking recommendations to enhance India’s trade facilitation and participation in international markets.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..