Trade Watch Quarterly

Trade Watch Quarterly : Recently, NITI Aayog released the third edition of its flagship publication, Trade Watch Quarterly, for the third quarter of FY 2024–25 (October–December 2024).

• Key Highlights : Despite geopolitical headwinds, India’s trade performance in Q3 FY25 showed cautious resilience:

- Merchandise exports grew by 3%, reaching $108 billion.

- Imports increased by 6.5% to $187 billion, widening the trade deficit.

- A robust services surplus of $52 billion, driven by 17% growth in services exports, helped offset the merchandise gap.

o Export Composition Trends: India emerged as the 5th largest exporter of Digitally Delivered Services (DDS), clocking $269 billion in 2024.

- Aircraft, spacecraft, and related parts entered the top export list with over 200% YoY growth.

- High-tech exports especially in electrical machinery and arms/ammunition, have grown at a CAGR of 10.6% since 2014.

• About NITI Aayog : Established on January 1, 2015, NITI Aayog (National Institution for Transforming India) replaced the Planning Commission as the premier policy think tank of the Government of India.

o It aims to drive economic development, promote cooperative federalism, and enable state participation in national policymaking.

o Composition:  → Chairperson: PM of India           →Vice Chairperson: Appointed by the PM

                                         → CEO: Appointed by PM; holds Secretary rank

                                         → Full-Time Members: Subject matter experts in key fields

                                         → Ex-Officio Members: Up to four Union Ministers

                                         → Governing Council: Includes CMs of States, LGs of UTs, and PM (as Chair)

                                         → Special Invitees: UT administrators and domain experts

                                         → Regional Councils: Formed for addressing specific regional challenges