India’s total merchandise and services trade rose by 5.4% year-on-year in January–March of the financial year 2025-26, reaching $1.84 trillion. The latest “Trade Watch Quarterly” by NITI Aayog revealed this stable performance amid global market uncertainties. In Q4 FY’2025-26, India’s trade sector displayed resilience, with services trade showing robust growth despite a moderation in merchandise exports and an increase in imports.
India’s services trade remained a significant strength, with exports growing by 9%, surpassing import growth and maintaining a strong services surplus. The country retained its position as the world’s eighth-largest services exporter in 2025, with services exports showing a Compound Annual Growth Rate (CAGR) of 10.3% during 2015-2025, well above the global average. Overall, India’s total trade in FY’2025-26 amounted to $1.84 trillion, with exports increasing by 4.2% and imports by 6.5%, showcasing the dynamic nature of India’s global economic engagement.
The report’s thematic focus on India’s pharmaceutical sector highlighted its emergence as a strategic pillar of the economy. With a robust manufacturing base, global competitiveness in generic medicines, and integration into international healthcare supply chains, the sector has become crucial. Despite India’s modest share in global pharmaceutical trade, its capabilities in generic medicines, vaccines, and essential drugs position it significantly in global healthcare supply chains.
