India’s Q3 Trade Shows Growth Amid Global Shifts
ECONOMY & POLICY

India’s Q3 Trade Shows Growth Amid Global Shifts

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.


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. 

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?