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 Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?