New Delhi, 21 February (H.S.): The Central Government has revised the base year for India's trade indices from the financial year 2012-13 to 2022-23, aiming to better reflect the nation's evolving trade structure and global trends.

The Ministry of Commerce announced this change on Saturday to align the indices with structural transformations in the economy, evolving trade practices, and current economic indicators. This adjustment ensures greater relevance and reliability of trade data, making it more valuable for policymakers and researchers alike.

Compiled and published by the Directorate General of Commercial Intelligence and Statistics (DGCIS) under the Ministry, these indices serve as critical tools for understanding price fluctuations in the external trade sector, compiling national accounts, and assessing terms of trade.

According to the Ministry, the revision accommodates structural economic shifts, changes in commodity composition, and alterations in global supply chains, with the new series adopting 2022-23=100 as the base. This step fosters improved synchronization with contemporary trade dynamics and economic metrics.

---------------

Hindusthan Samachar / Jun Sarkar