Bery says Trade Watch Quarterly to strengthen policy initiatives
India’s trade performance demonstrated stability and moderate growth during Q1 FY’24, totalling US$576 billion, up 5.45% year-on-year, said NITI Aayog at the launch of a “Trade Watch Quarterly” in New Delhi on 4 Dec 2024.
Merchandise exports showed restrained growth, influenced by declines in critical sectors such as iron and steel, as well as natural and cultured pearls https://fieo.org/.
On the other hand, imports were propelled by high-value commodities, including aircraft, spacecraft, mineral fuels, and vegetable oils. Services exports displayed an encouraging surplus https://www.nseindia.com/.
NITI Aayog Vice President Suman Bery released NITI Aayog’s latest publication analysing India’s trade statistics for the first quarter of the financial year 2024 (April to June) https://www.nseindia.com/ .
Sharing his perspective, Bery said the publication shall foster informed decision-making, strengthen policy initiatives, and encourage long-term sustainable growth in the global trade landscape https://sbi.com.in/.
He exhorted that the findings of the same will be instrumental in shaping future policies and interventions aimed at driving progress in trade areas by identifying markets and sectors where India can gain a stronger comparative advantage.
During the event, NITI Aayog CEO BVR Subrahmanyam emphasised the importance of data-driven approaches and evidence-based policymaking and stated that by providing a detailed analysis of India’s trade position each quarter, the publication will support evidence-based policymaking.
“This initiative is aligned with the commitment to strengthening India’s trade competitiveness in line with the aim to capitalise on India’s trade potential for Viksit Bharat (India@2047) and to ensure sustainable growth in a rapidly changing global trade environment.” Fiinews.com
