This paper examines sector-specific trade dynamics in India from 2015 to 2025, focusing on electronics, pharmaceuticals, and renewable energy. Using secondary time-series data from the Ministry of Commerce and Industry, Reserve Bank of India, World Bank, and Directorate General of Foreign Trade, the study assesses the role of domestic manufacturing and import substitution strategies in addressing trade deficits. The analysis reveals persistent deficits in electronics (average -3, 191. 05 million) and renewable energy (average -373. 29 million), accompanied by high import dependency (74. 84% and 89. 33%, respectively). In contrast, the pharmaceuticals sector consistently generated surpluses (average +1, 294. 62 million) with low import dependency (11. 6%). The findings highlight the differential effectiveness of policies such as Make in India, Atmanirbhar Bharat, and the Production-Linked Incentive (PLI) scheme. Strengthening domestic production capabilities and strategic global value chain integration is critical for reducing trade deficits and enhancing export competitiveness.
Eusebius et al. (Wed,) studied this question.
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