Business EconomyPosted at: Oct 6 2025 7:10PM


NITI Aayog launches fourth edition of ‘Trade Watch Quarterly’ report

New Delhi, Oct 6 (UNI) BVR Subrahmanyam, CEO NITI Aayog, today said India must adapt quickly to evolving demand patterns, diversify its export base and enhance competitiveness in non-leather footwear and global value chains, while closely monitoring geopolitical shifts in trade.
He was speaking during the launch of the fourth edition of Trade Watch Quarterly for Q4 of the financial year 2025 (January to March) here.
“The latest edition of 'Trade Watch Quarterly' for Q4 of FY 2024-25 presents an in-depth assessment of India’s trade performance, capturing trends in merchandise and services, shifts in global demand, and prospects for export diversification, while underscoring the imperative to diversify into high-demand global markets,” said Subrahmanyam.
During Q4 of FY25, India witnessed steady trade performance with total trade marking at USD 441 billion, which is 2.2pc above year-on-year.
Highlighting the sectoral impacts, the report said that electrical machinery, pharmaceuticals and cereals witnessed healthy growth, but the merchandise exports saw a modest contraction due to a decline in mineral fuels and organic chemicals.
Imports during this period rose marginally, driven by higher demand for nuclear reactors, electrical machinery and inorganic chemicals.
Moreover, North America emerged as the strongest export market, growing by 25pc and accounting for a quarter of India’s exports, while the European union (EU), Gulf Cooperation Council (GCC), and Association of Southeast Asian Nations (ASEAN) moderated.
Looking towards the import side, the UAE overtook Russia as India’s second-largest supplier, driven by gold inflows under the Comprehensive Economic Partnership Agreements (CEPA), while imports from China surged with a strong demand for electronics.
This report also assesses India’s leather and footwear exports, which employs 4.4 million people and contributes significantly to exports.
Fortunately, India remains competitive in processed leathers and niche apparel, but its overall share in the USD296 billion global market is modest at 1.8pc.
But as global demand is shifting rapidly towards non-leather and sustainable products, India faces both challenges and opportunities.
Thus, strengthening MSMEs, investing in Research and Development (R&D) and aligning with green and design-driven value chains will be key to expanding India’s global footprint.
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