Thursday, July 3, 2025
HomeEconomyIndia needs new strategic trade roadmap amid global uncertainty: Eco Survey

India needs new strategic trade roadmap amid global uncertainty: Eco Survey

-

[ad_1]

New Delhi: The Economic Survey 2024-25 called for a “new strategic trade roadmap” for India amid global trade dynamics shifting from globalisation to rising trade protectionism, accompanied by increased uncertainty.

It also said that government interventions, including non-tariff measures (NTM), reinforce the change in bilateral trade patterns due to geopolitical considerations. The rise in NTMs, which began after the COVID-19 pandemic, was further fuelled by the conflict between Russia and Ukraine, according to the survey.

It said if the government and the private sector focus on quality and efficiency, then despite the trade tensions and protectionism that are likely to come in the way of expanding global trade, India can increase its share in overseas markets and generate resources to sustain a higher level of capital formation.

Noting that “much remains to be done to enhance trade competitiveness”, the survey said that to remain competitive and enhance its participation in global supply chains, India must continue reducing trade costs and improving facilitation to boost export competitiveness.

As per the survey, India’s external sector continued to display resilience amidst global headwinds of economic and trade policy uncertainties. Total exports (merchandise and services) have registered a steady growth in the first nine months of FY25, reaching $602.6 billion (6%). Growth in services and goods exports, excluding petroleum and gems and jewellery, was 10.4%. Total imports during the same period reached $682.2 billion, registering a growth of 6.9% on the back of steady domestic demand.


“The evolving global trade dynamics, marked by gradual shifts towards greater protectionism, require assessing the situation and developing a forward looking strategic trade roadmap,” it said, and insisted that industry must continue to invest in quality.

[ad_2]

Source link

LATEST POSTS

Turn Health into Wealth with LifeWave X39

In today’s world, people are searching for two things more than ever:✅ Better health✅ Financial freedom With LifeWave X39, you don’t have to choose — you...

Soft Play Bus Essex with Squeeze Rollers & Dizzy Discs – A Fun-Filled Mobile Adventure

In today’s world of children’s entertainment, finding activities that combine physical play with safety and creativity can be a challenge. The Soft Play Bus Essex offers a...

The Mobile Spa Trend: Pamper Bus Fun for Little Fashionistas

A New Way to Celebrate in StyleThe world of children’s parties has transformed over the years, with themed events becoming more elaborate, creative, and personalized....

Chic and Cheap: Grace Bay Turks and Caicos Luxury Stays Under $300/Night

Experience Luxury Without Overspending Grace Bay Turks and Caicos is a dream destination known for its pristine beaches, turquoise waters, and upscale ambiance. While many assume...

Most Popular

spot_img