NITI Aayog Releases Ninth Trade Watch Quarterly Edition
NITI Aayog Vice-Chairman Ashok Kumar Lahiri released the ninth Trade Watch Quarterly, which puts India's total trade at $506.9 billion in the first quarter.

Why in News
On 16 September 2026 NITI Aayog released the ninth edition of Trade Watch Quarterly, covering the first quarter of FY27, with India's total trade at $506.9 billion and a thematic focus on metals and ores.
NITI Aayog brought out a fresh trade report on 16 September 2026 in New Delhi. It is the ninth edition of the publication called Trade Watch Quarterly. Vice-Chairman Ashok Kumar Lahiri released it. The edition covers the first quarter of FY27, that is April to June 2026. The chief executive officer and other senior officials of the think tank joined him.
How world trade performed
Global goods trade touched $13.7 trillion in the first half of calendar 2026. That marked a rise of 12.5 per cent over the same period a year earlier. Services trade grew by 10.5 per cent. Trade held up despite sharp geopolitical and policy uncertainty.
How India performed
India's total merchandise and services trade reached $506.9 billion in the quarter. The year-on-year growth rate was 15.5 per cent. Mineral fuels, electrical machinery, nuclear reactors, iron and steel and vehicles led the export push. Imports grew strongly in capital goods, electronic components and copper. Trade with free trade agreement partners rose sharply, exports by 36.3 per cent and imports by 10 per cent.
A jump in digital services
India improved its standing in digitally delivered services. Such exports rose from $277 billion in 2024 to $317 billion in 2025. That is a gain of 15 per cent in a year. India moved from the fifth largest exporter of these services to the fourth largest. Only the United States, the United Kingdom and Ireland now rank above it. Tanzania and South Africa entered India's top ten export markets.
The theme of this edition
Metals and ores trade is the thematic focus this time. Metals exports stood at $34.8 billion in 2025. Iron and steel, articles of iron and steel and aluminium made up about 78 per cent of that. Imports of metals and ores climbed from $32.2 billion in 2015 to $60.5 billion in 2025. Copper, lithium, cobalt and nickel drove that demand. The report points to reforms under the Mines and Minerals (Development and Regulation) Act of 1957 and to the European Union's Carbon Border Adjustment Mechanism as factors shaping the road ahead.
The report at a glance
| Publication | Trade Watch Quarterly, ninth edition |
| Released by | Ashok Kumar Lahiri, Vice-Chairman, NITI Aayog |
| Period covered | First quarter of FY27, April to June 2026 |
| India's total trade | $506.9 billion, up 15.5 per cent |
| Global goods trade | $13.7 trillion in the first half of 2026, up 12.5 per cent |
| Theme | India's metals and ores trade |
| Digital services exports | $317 billion in 2025; India now the fourth largest exporter |
Important Facts
| Publication | Trade Watch Quarterly, ninth edition |
|---|---|
| Published by | NITI Aayog |
| Released by | Ashok Kumar Lahiri, Vice-Chairman |
| Date | 16 September 2026, New Delhi |
| Quarter covered | First quarter of FY27 (April to June 2026) |
| India's total trade | $506.9 billion, up 15.5 per cent |
| Global goods trade | $13.7 trillion, up 12.5 per cent |
| Services trade growth | 10.5 per cent |
| Theme | India's metals and ores trade |
| Metals exports | $34.8 billion in 2025 |
Exam Point of View
Remember the publisher (NITI Aayog), the publication and edition (Trade Watch Quarterly, ninth), who released it (Vice-Chairman Ashok Kumar Lahiri), India's trade figure of $506.9 billion, the global figure of $13.7 trillion and the theme of metals and ores.
Practice Questions
Which edition of Trade Watch Quarterly was released by NITI Aayog on 16 September 2026?
- A.Seventh
- B.Eighth
- C.Ninth
- D.Tenth
Show answer
Correct answer: C. Ninth
Explanation
The correct answer is the ninth edition. Ashok Kumar Lahiri, Vice-Chairman of NITI Aayog, released it in New Delhi along with the chief executive officer and other senior officials of the institution, and the edition covers the first quarter of FY27, that is April to June 2026. Options A, B and D are wrong because they name editions that either came earlier in the series or have not yet appeared, and edition numbers are among the most frequently tested details in questions on government reports. Candidates should also carry the headline numbers from this issue: India's total merchandise and services trade of $506.9 billion in the quarter, growth of 15.5 per cent over a year earlier, and global goods trade of $13.7 trillion in the first half of calendar 2026 with growth of 12.5 per cent.
What is the thematic focus of the ninth edition of Trade Watch Quarterly?
- A.India's pharmaceutical exports
- B.India's metals and ores trade
- C.India's agricultural exports
- D.India's textile trade
Show answer
Correct answer: B. India's metals and ores trade
Explanation
The correct answer is India's metals and ores trade. The edition treats this as a strategically important sector for manufacturing, infrastructure, the energy transition and advanced industries, and it examines both export competitiveness and rising import dependence. Metals exports stood at $34.8 billion in 2025, with iron and steel, articles of iron and steel and aluminium together accounting for about 78 per cent of the total. Imports of metals and ores rose from $32.2 billion in 2015 to $60.5 billion in 2025, driven by copper, lithium, cobalt and nickel. Options A, C and D name sectors that matter to India's trade but are not the declared theme of this issue. The report also flags reforms under the Mines and Minerals (Development and Regulation) Act of 1957 and the European Union's Carbon Border Adjustment Mechanism.
According to the report, what rank does India now hold among exporters of digitally delivered services?
- A.Second
- B.Third
- C.Fourth
- D.Fifth
Show answer
Correct answer: C. Fourth
Explanation
The correct answer is fourth. India's exports of digitally delivered services rose from $277 billion in 2024 to $317 billion in 2025, a gain of about 15 per cent in a single year, and that growth lifted the country from the fifth position to the fourth among global exporters of such services. Only the United States, the United Kingdom and Ireland now rank ahead of India. Option D is the classic trap, because fifth is exactly where India stood before this improvement, and a candidate reading quickly can easily retain the old rank. Options A and B are wrong because the three countries named above remain above India, so neither second nor third position has been reached. Pair the old rank with the new one when you revise, since questions are often framed around the change itself.
Frequently Asked Questions
Which body publishes Trade Watch Quarterly?
NITI Aayog. Vice-Chairman Ashok Kumar Lahiri released the ninth edition on 16 September 2026 in New Delhi.
What was India's total trade in the first quarter of FY27?
$506.9 billion, a year-on-year growth of 15.5 per cent, covering both merchandise and services trade.
What is the thematic focus of the ninth edition?
India's metals and ores trade, examining export competitiveness, import dependence, critical minerals and higher-value non-ferrous metals.
Sources
- NITI Aayog Launches Ninth Edition of “Trade Watch Quarterly” (opens in a new tab) — Press Information Bureau
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