According to the economic survey 2024-25, the Indian trade department navigated the shift and supply chain of protectedists in the global turmoil, and on January 31, the Minister of Finance Nirmara Citaraman, Minister of Union. We hold companies while raised. This country has shown recovery force, as it has increased by 6 % in the first nine months of the fiscal year due to the total exports of both products and services. Imports are also increased to 6.9 %, reflecting stable demand and dynamics of supply.
The survey emphasizes that the exports of services, non -petorum, non -GEM, and jewelry have recorded 10.4 % of growth. This performance emphasizes the competitiveness of India’s manufacturing, agriculture, and services, even if World Trade is fighting many issues.
Changes in trade landscapes and rising barriers
The volatile mixture of geopolitical events, such as the Crisis of the Red Sea, the War in the Ukraine, and the Panama Canal status of the Panama Canal, has an unstable World Trade route, exacerbating the uncertainty of exporters. Rising protectionism adds another layer of complexity, and there is a remarkable increase in which non -tariff measures (NTM) restrict trade.
According to a survey, the technical barrier of trade (TBT) is currently affecting 31.6 % of the world’s product lines and covers 67.1 % of international trade in December 2024. 。 Agricultural, manufacturing, and natural resources are one of the most affected areas of these trade constraints.
Indian trade strategy: expansion of FTA and diverse exports
Recognizing these changes, India is actively pursuing a trade roadmap for the future. The important aspect of this strategy is to negotiate a free trade agreement (FTA) to ensure better market access. The UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed in 2022 has already reduced textile duties and provided competitiveness to Indian manufacturers. Negotiations with the European Union and the United Kingdom are also progressing, aiming to expand Indian trade footprints.
Beyond securing trade transactions, India has diversified export baskets and is using new markets. By expanding the range of products and targeting high demand sector, the government is working to reduce external trade shocks and reduce the dependence on the conventional market.
Service export: global leader of IT and business services
Indian service exports continue to prosper and have increased global trade share. The country’s contribution to global service exports has doubled since 2005, reaching 4.3 % in 2023.
In the “Telecommunications, Computers, and Information Services” categories, India accounts for 10.2 % of the global market and is ranked as the second largest exporter in the world. This strength is derived from national leadership in outsourcing, software development and digital services. As a hub of the global ability center, India’s ability to maintain this sector growth depends on continuous investment in skills and policy intervention.
India, on the other hand, is ranked third in the world in other business services and has a 7.2 % share. Professional and consulting services have new growth opportunities in sightseeing, transportation networks, and e -commerce, and have continued to be major contributors. The rise of digital platforms, online payments, and AI -led consumers are expected to promote the export of E -commerce in India over the next few years.
Trade boost: Infrastructure and digital initiative
To strengthen the Indian export ecosystem, the government is focusing on the development of infrastructure and policy -led trade -led trade. The Foreign Trade Bureau (DGFT) has launched the Trade Connect E-Platform, a single window digital tool designed to identify and access new markets.
The platform, which was developed in cooperation with the MSME Ministry, EXIM BANK, Financial Services, and the Ministry of Foreign Affairs, aims to deal with information gaps and provide real -time trade insights. This initiative is particularly useful for small and medium -sized enterprises, and is expected to be more efficient with global supply chains.
Global trade shift and Indian evolution strategy
Chief Economic Advisor (CEA) V. Anantha NageSwaran pointed out that trade and investment are becoming more and more prominent through strategic competition lenses. “The value of trade affected by new import restrictions was only $ 170 billion in 2014-15, but now increased to more than $ 1.3 trillion,” he said. Is emphasized worldwide.
As India navigates the dynamics of these evolving trade, the challenge is to balance economic expansion and strategic risk management. The government is positioned to adapt to the changing global order by the target policy intervention, the expansion of trade agreements, and the digital transformation.
