North America was strongest export market, says report
India’s trade performance remained steady, with total trade at US$441 billion, up 2.2% year-on-year during Q4 of FY’25 (January to March), according to Trade Watch Quarterly, the fourth edition of which was released by B.V.R. Subrahmanyam, CEO of NITI Aayog, on 6 Oct in New Delhi https://www.commerce.gov.in/.
Merchandise exports saw a modest contraction due to a decline in mineral fuels and organic chemicals, while sectors such as electrical machinery, pharmaceuticals, and cereals registered healthy growth https://indiaexpomart.com/.
Imports rose marginally, supported by higher demand for nuclear reactors, electrical machinery, and inorganic chemicals https://fieo.org/.
Regionally, North America emerged as the strongest export market, growing by 25% and accounting for a quarter of India’s exports, while exports to the EU, GCC, and ASEAN moderated https://www.nseindia.com/.
On the import side, the UAE overtook Russia as India’s second-largest supplier, driven by gold inflows under CEPA, while imports from China surged on strong demand for electronics.
The latest edition of Trade Watch Quarterly also assessed India’s leather and footwear exports, which employs 4.4 million people and contributes significantly to exports https://www.bseindia.com/.
India remains competitive in processed leathers and niche apparel, but its overall share in the US$296 billion global market is modest at 1.8%. With global demand shifting rapidly towards non-leather and sustainable products, India faces both challenges and opportunities. Strengthening MSMEs, investing in R&D, and aligning with green and design-driven value chains will be key to expanding India’s global footprint https://sbi.com.in/.
Speaking at the report release, Subrahmanyam noted that services exports, aerospace, and high-value manufacturing are driving resilience.
He stressed that 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. Fiinews.com