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NITI Aayog Released 3rd Edition of 'Trade Watch Quarterly (TWQ): October–December Q3 FY25' Highlighting India’s Export and Trade Trends.

National | Dated: 17 Jul 2025

In July 2025, NITI Aayog launched the 3rd edition of its quarterly trade report titled 'Trade Watch Quarterly (TWQ): October–December (Q3) FY25' in New Delhi. The report offers detailed insights into India’s merchandise and services trade performance during Q3 of FY 2024–25.

🎯 Key Highlights:

- The report was launched by Dr. Arvind Virmani, Member of NITI Aayog, and it includes a thematic session addressing recent changes in the USA’s tariff structure, offering insights into their impact on global trade alignment and India’s export competitiveness.
- India’s merchandise exports showed a 3% year-on-year (YoY) growth, reaching USD 108.7 billion in Q3FY25. However, imports surged by 6.5%, totaling USD 187.5 billion, leading to a wider merchandise trade deficit during the same period.
- The report emphasized that the export basket remained stable, with some products like aircraft, spacecraft, and parts entering the top 10 exports list by showing over 200% annual growth, signaling shifts in India's export priorities.

💡 Other Important Facts:

(i) India registered a services trade surplus of USD 52.3 billion in Q3FY25. This was driven by a strong 17% YoY growth in services exports, helping to partially offset the merchandise trade deficit during the quarter.
(ii) India was ranked the 5th largest exporter of Digitally Delivered Services (DDS) in 2024, with USD 269 billion worth of such exports. This underlines India’s strengthening role in global digital service exports.
(iii) The report highlighted India’s high-tech merchandise exports growth, especially in electrical machinery and defense sectors. These sectors have grown at a Compound Annual Growth Rate (CAGR) of 10.6% since 2014. North America and the EU remained major markets, jointly accounting for nearly 40% of outbound shipments.

📚 Test Your Knowledge:

Recently, who released the 3rd edition of 'Trade Watch Quarterly (TWQ): October–December Q3 FY25' in New Delhi?

Correct Answer: Dr. Arvind Virmani

🚀 Quick Recap:

About NITI Aayog

Established : 2015
Headquarters: New Delhi