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NITI Aayog launches 2nd edition of 'Trade Watch Quarterly'

 

By TIOL News Service

NEW DELHI, MAR 29, 2025: DR. Arvind Virmani, Hon'ble Member of NITI Aayog, released the second edition of the "Trade Watch Quarterly" publication for the Quarter II of the financial year 2025 (July to September) on March 28, 2025, in New Delhi.

In addition to offering a comprehensive analysis of India's trade position for the quarter, this edition examines the textile sector, a key contributor to economic growth through export promotion, job creation, women's empowerment, and the representation of India's rich heritage and culture.

During Q2 FY'25, India's trade performance remains continual, with total trade growing steadily at 5.67% in April–September 2024 compared to the same period in 2023. On the imports side, copper has entered the top ten sectors, driven by a robust 28% year-on-year increase in imports due to rising infrastructure demand. The composition of exports has remained largely stable compared to the previous quarter, with a year-on-year increase in the export growth of electrical machinery and nuclear reactors, while mineral fuels and iron & steel saw a year-on-year decline in Q2 FY25. Regionally, North America and the EU continue to dominate India's exports, accounting for approximately 40%, while Northeast Asia and West Asia remain key import sources.

This edition of Trade Watch Quarterly also assesses India's textile sector, a sector that continues to contribute significantly to industrial output, employment, and export earnings. India is one of the top 10 world's exporters and of a modest India holds 4% share in global trade.

India remains competitive in natural fibre-based textiles, particularly cotton and carpets, accounting for nearly 70% of its textile exports. While the nation has historically excelled in natural fibre-based textiles, the global market is shifting towards man-made and technical textiles and this shift presents an opportunity for India to diversify its exports, enhance value addition, and strengthen supply chain integration.

Speaking on the occasion, Dr. Virmani congratulated the entire team for coming up with a comprehensive trade publication and expressed that future belongs to economies that adapt, and India's trade landscape is transforming with bold strides. He mentioned that, among its key sectors, textiles stand as a pillar of India's industrial growth and global trade.

Dr. Virmani also highlighted the significance of addressing the growing global demand for technical textiles and apparel exports, where a substantial share of demand is concentrated. He also stressed the importance of closely monitoring global trade amid evolving geopolitical developments. Additionally, he noted that the findings of this publication provide valuable insights for policymakers, industry leaders, and academicians, serving as a strong foundation for enhancing India's trade strategies.

 

 


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