India’s Trade Shows Steady Growth Despite Global Challenges: NITI Aayog Report

India’s trade stayed strong in the third quarter of the financial year 2024–25, even as global demand went up and down and tensions rose in many parts of the world. This was shared in the latest Trade Watch Quarterly report released by NITI Aayog on Monday.

The report, launched by NITI Aayog Member Dr. Arvind Virmani, looked closely at India’s trade numbers during this uncertain time. It found that India’s goods exports grew by 3% compared to last year, reaching $108.7 billion. However, imports went up even more—by 6.5%—to $187.5 billion. This increased India’s trade deficit.

Still, India’s strong services sector helped balance the gap. Services exports jumped by 17% in the quarter, earning a surplus of $52.3 billion. The report also pointed out interesting trends. Aircraft, spacecraft, and their parts became one of India’s top ten export items for the first time, growing by over 200% from last year. North America and the European Union remained India’s biggest export markets, making up almost 40% of total exports.

India also did well in digital trade. It is now the world’s fifth-largest exporter of digitally delivered services, worth $269 billion in 2024. Exports of high-tech goods like electrical machines and arms have also done well, growing by 10.6% each year since 2014.

This time, the report specifically looked at changes in US trade policy. It said India now has a tariff edge over some of its competitors, giving Indian products a chance to gain more in the American market. Sectors like pharma, textiles, and electrical machinery could benefit the most.

The report underlined that smart and quick government policies will be very important to help India make the best of these global changes and boost its exports even more.