India Revises Merchandise Trade Index Base Year
Analysis based on 8 articles · First reported Feb 20, 2026 · Last updated Feb 20, 2026
The revision of India's merchandise trade indices to a more current base year will provide more accurate and relevant data for economic analysis, which is crucial for policymakers and financial market participants. This improved data quality will enhance the reliability of macroeconomic indicators and policy formulation.
India's government, through its India===Ministry of Trade and Industry and the India===Directorate General of Commercial Intelligence and Statistics, has revised the base year for its merchandise trade indices from 2012-13 to 2022-23. This change aims to better reflect the structural shifts in India's economy, evolving trade patterns, and to align with contemporary macroeconomic indicators. The revision was based on recommendations from a committee chaired by Professor Nachiketa Chattopadhyay of the Indian Statistical Institute. These updated indices are vital for various government institutions, including the India===Ministry of Statistics and Programme Implementation for GDP compilation and the India===Reserve Bank of India for external sector assessment and balance of payments analysis, ensuring improved relevance, reliability, and analytical usefulness for all stakeholders.
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