Directorate General of Commercial Intelligence and Statistics Revises Base Year of Merchandise Trade Indices to FY 2022–23 to Reflect Current Trade Structure and Global Patterns

1. At a Glance

DGCI&S (Directorate General of Commercial Intelligence and Statistics), under the Ministry of Commerce & Industry, has updated the base year of India's Merchandise Trade Indices from FY 2012–13 to FY 2022–23 (=100) [S1][S2].
These indices track unit-value (price) movements of India's exports and imports and feed GDP compilation, RBI's BoP/external-sector analysis, and terms-of-trade assessment [S1][S2].
Relevant for UPSC under GS-III (Indian Economy — external sector, statistics) as a recurring statistical-revision theme along with CPI/WPI/IIP rebasing.

20 February 2026: PIB release announced the rebasing of Merchandise Trade Indices to 2022–23 = 100, replacing the older 2012–13 series, to mirror current trade composition and global patterns [S1][S2].

DGCI&S, headquartered in Kolkata, is the nodal agency for compilation and dissemination of India's trade statistics [S1].
Base-year revisions are periodic to capture structural shifts in commodity composition and global trade patterns [S1].
Previous base year was FY 2012–13; the 2026 revision adopts FY 2022–23 [S1].
The revision draws on the report of a DGCI&S-constituted committee chaired by Prof. Nachiketa Chattopadhyay, Indian Statistical Institute, Kolkata, which reviewed methodology, coverage, weights, and compilation practices in line with international best practices [S1][S2].

Parent ministry: Ministry of Commerce & Industry → Department of Commerce [S1].
Compiling agency: DGCI&S, Kolkata [S1].
Index type: Unit Value Indices (UVIs) of exports and imports, plus Quantum and Terms of Trade indices [S1].
Old base year: 2012–13 → New base year: 2022–23 (=100) [S1][S2].
Averaging formula: Laspeyres formula with two-stage weighting — first across items within a Principal Commodity (PC) group, then across PC groups to the grand total [S3].
Classification: items aggregated via ITC(HS) codes into Principal Commodity groups [S3].
Key users: National Accounts Division (MoSPI) for GDP, RBI for external sector & BoP, line ministries for trade policy [S2].
Committee chair: Prof. Nachiketa Chattopadhyay, ISI Kolkata [S2].

Economic
Provides price vs. volume decomposition of trade growth — distinguishes nominal export surge from genuine quantum gains [S1].
Inputs into terms of trade (export UVI ÷ import UVI), critical for assessing income transfer with the rest of the world [S1].
Improves accuracy of deflators used in real GDP and BoP estimates [S2].
Administrative / Statistical
Aligns Indian trade statistics with international best practices (UN/IMF/WTO manuals on price and volume measures) [S2].
Updated weights reflect post-pandemic export basket (electronics, petroleum products, services-adjacent goods) versus the 2012–13 basket [S1].
Geopolitical / Strategic
Captures shifts caused by global value-chain reconfiguration, China-plus-one, Russia–Ukraine energy trade disruption, and India's PLI-driven export mix [S1].
Governance
Embodies the practice of expert-committee-led methodological revision, consistent with how MoSPI rebases CPI, WPI, IIP [S2].

20 Feb 2026: PIB release on rebasing to 2022–23 [S1].
Committee under Prof. Nachiketa Chattopadhyay (ISI Kolkata) finalised refinements in methodology, coverage and weights prior to the release [S2].

DGCI&S is under the Ministry of Commerce & Industry, not MoSPI [S1].
DGCI&S is headquartered in Kolkata [S1].
New base year of Merchandise Trade Indices: FY 2022–23 [S1].
Previous base year: FY 2012–13 [S1].
Indices are computed using the Laspeyres formula with weights proportional to item/PC-group importance [S3].
Commodity classification is based on ITC(HS) grouped into Principal Commodity (PC) groups [S3].
Indices feed into National Accounts (GDP) and RBI's BoP analysis [S2].
Revision committee chaired by Prof. Nachiketa Chattopadhyay, ISI Kolkata [S2].
Press release date: 20 February 2026 [S1].
"Terms of Trade" = ratio of export UVI to import UVI [S1].
DGCI&S also issues Inland Trade and Foreign Trade statistical publications [S4].

GS-III — Indian Economy: Mobilisation of resources, growth and development; Effects of liberalisation on the economy; External sector; Statistical systems.
Possible question stems: 1. "Periodic revision of base years for macroeconomic indices is essential for credible policy. Discuss in the context of the recent rebasing of India's Merchandise Trade Indices." 2. "Examine the relevance of Terms of Trade indices for assessing India's external sector performance." 3. "Evaluate the institutional architecture of India's trade statistics with reference to DGCI&S."

Confusing DGCI&S (Commerce Ministry) with CSO/NSO under MoSPI — DGCI&S is not part of MoSPI [S1].
Treating the index as a price index of consumer goods — it is a unit-value index of traded merchandise [S1].
Assuming services trade is covered — these indices are merchandise-only; services data come from RBI surveys [S1].
Mixing up base years: trade indices now 2022–23, while CPI base remains 2012 and WPI 2011–12.
Headquarters of DGCI&S is Kolkata, not Delhi [S1].

[S1] Press Release — DGCI&S Revises Base Year of Merchandise Trade Indices to FY 2022–23 — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2230845 — (tier: 1)
[S2] Same PIB release (mirror) — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2230845&reg=3&lang=1 — (tier: 1)
[S3] MoSPI — Status of Important Publications of DGCI&S (Foreign Trade), methodology note — https://www.mospi.gov.in/61-status-important-publications-dgcis-foreign-trade — (tier: 1)
[S4] MoSPI — Status of Important Publications of DGCI&S (Inland Trade) — https://www.mospi.gov.in/62-status-important-publications-dgcis-inland-trade — (tier: 1)