Image Source: CNBCTV18
The Directorate General of Commercial Intelligence and Statistics (DGCI&S) has revised the base year of India’s merchandise trade indices from FY 2012-13 to FY 2022-23. This update reflects structural economic changes, evolving trade patterns, and commodity shifts, ensuring greater accuracy, relevance, and analytical value for policymakers, researchers, and industry stakeholders.
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India’s Commerce Ministry announced a significant revision in the country’s merchandise trade indices, shifting the base year from FY 2012-13 to FY 2022-23. The move is designed to align trade measurement with current macroeconomic realities and global trade dynamics.
Key Highlights
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Revised base year set at FY 2022-23 (2022-23 = 100), replacing FY 2012-13
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Reflects structural changes in the economy and shifts in commodity composition
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Enhances reliability and analytical usefulness for policymakers, researchers, and trade analysts
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Captures evolving global trade patterns and India’s changing export-import structure
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Revision committee chaired by Prof. Nachiketa Chattopadhyay ensured methodological rigor
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Indices measure changes in unit values of exports and imports, offering sharper insights into trade competitiveness
This recalibration is expected to improve the precision of trade analysis, making India’s merchandise trade indices more relevant for contemporary policy decisions and international comparisons.
Sources: The Hindu BusinessLine, CNBC TV18, The Hindu
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