India Updates Merchandise Trade Indices Base Year to 2022-23

• India's commerce ministry revised the base year for merchandise trade indices from 2012-13 to 2022-23.
• The change reflects structural shifts in the economy, commodity composition, and evolving trade patterns.
• The Directorate General of Commercial Intelligence and Statistics (DGCI&S) compiles and publishes these crucial indices.
• The updated indices ensure better alignment with current macroeconomic indicators and improved relevance for policymakers.
• The revision accounts for new commodities, technological advancements, and global supply chain restructuring over the past decade.