NITI Aayog Releases Ninth Trade Watch Quarterly Edition

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