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First trade watch report
December 9 , 2024
33 days
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- NITI Aayog released the Trade Watch Quarterly report for Q1 FY25.
- It is a comprehensive overview of the country’s trade dynamics during April–June 2024.
- India’s total trade performance for the first half of 2024 reached $576 billion with the year-on-year (YoY) growth of 5.45%.
- Exports stood at $231 billion, reflecting a modest increase of 5.41%, imports surged to $345 billion.
- It is resulting in a widened current account deficit of $9.7 billion.
- Services exports rose by 10.09% YoY to reach $89 billion.
- IT services and other business solutions has global market shares of 10.2% and 7.16%, respectively.
- North America and the European Union continue to be pivotal markets, accounting for 21% and 18.6% of India’s exports, respectively.
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