Arvind Virmani Releases Q2 FY25 Edition of ‘Trade Watch Quarterly’

New Delhi: Dr. Arvind Virmani, Member of NITI Aayog, released the second edition of the ‘Trade Watch Quarterly’ publication for Quarter II of the financial year 2025 (July to September) in New Delhi. The report provides a comprehensive analysis of India’s trade performance, along with a special focus on the textile sector, which plays a crucial role in export promotion, job creation, women’s empowerment, and preserving India’s rich heritage and culture.

India’s trade performance remained steady during Q2 FY25, with total trade growing by 5.67% in April–September 2024 compared to the same period in 2023. On the imports front, copper emerged as a key sector, entering the top ten import categories with a 28% year-on-year increase, driven by rising infrastructure demand. The export composition remained largely stable compared to the previous quarter, with electrical machinery and nuclear reactors seeing year-on-year growth, while mineral fuels and iron & steel recorded a decline. Regionally, North America and the EU continued to dominate India’s exports, accounting for approximately 40%, while Northeast Asia and West Asia remained key import sources.

The latest edition also assesses India’s textile sector, which continues to be a significant contributor to industrial output, employment, and export earnings. India ranks among the top ten textile exporters globally, holding a 4% share in global trade. The nation maintains a strong position in natural fibre-based textiles, particularly cotton and carpets, which constitute nearly 70% of its textile exports. However, with the global market shifting towards man-made and technical textiles, India has an opportunity to diversify exports, enhance value addition, and strengthen supply chain integration to maintain its competitive edge.

Speaking at the launch, Dr. Virmani congratulated the team behind the publication and emphasized that India’s trade landscape is evolving with bold strides. He highlighted that textiles remain a pillar of India’s industrial growth and global trade and underscored the need to address the rising global demand for technical textiles and apparel exports. Stressing the importance of closely monitoring global trade amid shifting geopolitical trends, he stated that the findings of this publication provide valuable insights for policymakers, industry leaders, and academicians, laying a strong foundation for enhancing India’s trade strategies.