·
Trade
Watch Quarterly released:
NITI Aayog Vice-Chairman Ashok
Kumar Lahiri released the Q1 FY27 (April–June 2026) edition of Trade Watch Quarterly on 16 September 2026 in New
Delhi.
·
Global
trade:
Global goods trade reached $13.7
trillion in H1 calendar 2026, growing 12.5% year-on-year,
while services trade expanded 10.5%.
·
India’s
total trade:
India’s merchandise and services trade reached $506.9 billion in Q1 FY27, registering 15.5% YoY growth.
·
Export
growth:
Merchandise exports grew strongly, led by mineral fuels, electrical machinery, nuclear reactors, iron
& steel and vehicles.
·
Growth
was supported by higher shipments of petroleum
products, steel, engineering goods and automobiles.
·
Imports: Imports continued to support industrial
and energy requirements, with notable growth in capital goods, electronic components and copper.
·
The
trend reflects domestic
investment, expanding industrial capacity and deeper integration with global
value chains.
·
Export
markets: Tanzania and South Africa
entered the top-ten export destinations, while exports to Singapore recorded
strong growth.
·
Import
sourcing:
Imports from Latin America
and West Africa increased significantly, partly reflecting
diversification of crude-oil sourcing.
·
Major
import regions: Northeast Asia, West Asia-GCC and ASEAN
together accounted for around half
of India's imports.
·
FTA
partners:
Exports to FTA partners increased 36.3%,
while imports rose 10.0%,
indicating deeper trade integration.
·
India's
Digitally Delivered
Services (DDS) exports increased from $277 billion in 2024 to $317 billion in
2025, a 15%
YoY increase.
·
India
moved from the 5th-largest
to the 4th-largest DDS exporter, behind the US, UK and Ireland.
·
Metals
exports:
India’s metals exports reached $34.8
billion in 2025.
·
Export
concentration: Iron & steel, articles of iron &
steel and aluminium accounted for about 78% of metals exports.
·
India
has established export competitiveness in these segments, providing a base for further value addition and expansion.
·
Metals
& ores imports:
Imports increased from $32.2
billion in 2015 to $60.5 billion in 2025.
·
Key
strategic imports include copper,
lithium, cobalt and nickel, reflecting demand from
manufacturing, infrastructure and the energy transition.
·
Critical
minerals: The
report highlights opportunities to strengthen domestic exploration, processing and specialised production.
·
MMDR
reforms:
Recent reforms under the Mines
and Minerals (Development and Regulation) Act, 1957, including
the MMDR Amendment Act,
2026, are expected to improve fiscal predictability and
encourage investment in exploration, mining and critical minerals.
·
EU
CBAM: The EU Carbon Border Adjustment Mechanism
(CBAM) makes it important to improve the competitiveness of
India's steel and
aluminium exports.
·
Value-chain
approach: NITI
Aayog highlights the need for coordinated action covering resource security, streamlined
processes, lower logistics and financing costs, trade safeguards, renewable
energy, CBAM preparedness, advanced materials and critical-mineral recycling.
Key
takeaway: The
Q1 FY27 edition identifies export-market/product
diversification, deeper global value-chain integration and stronger domestic
capabilities in strategic sectors as important elements for
strengthening India's trade competitiveness.
[ABS News Service/17.09.2026]
Ashok
Kumar Lahiri, Vice-Chairman, NITI Aayog, released the latest edition of the
“Trade Watch Quarterly” publication for Quarter 1 of FY27 (Apr-Jun 2026) on
16th September 2026, in New Delhi alongwith CEO and
other senior officials of NITI Aayog.
The
latest edition of Trade Watch Quarterly provides a comprehensive assessment of
global and domestic trade trends amid heightened geopolitical and trade policy
uncertainties, even as global trade has remained resilient. Global goods trade
reached $13.7 trillion in the first half of calendar year 2026, registering
12.5% y-o-y growth, while services trade expanded by 10.5%. Against this
backdrop, India’s merchandise and services trade continued to expand, with
total trade reaching $506.9 billion in Q1 FY27, registering 15.5% y-o-y growth.
The thematic focus of this edition is India’s metals and ores trade, a
strategically important sector for manufacturing, infrastructure, energy
transition and advanced industries. The study examines India’s export competitiveness
and growing import dependence across metals and ores, with a focus on critical
minerals and higher-value non-ferrous metals, while assessing structural
constraints and opportunities to strengthen domestic value addition,
investment, market diversification and global competitiveness.
India’s
merchandise exports grew strongly in Q1 FY27, led by mineral fuels, electrical
machinery, nuclear reactors, iron and steel, and vehicles, supported by rise in
shipments of petroleum products, steel, engineering goods and automobiles.
Imports continued to support India’s industrial and energy requirements, with
notable growth in capital goods, electronic components and copper. This trend
reflects the strength of domestic investment activity, expanding industrial
capacity and the growing integration of Indian industry with global value
chains.
India’s
export destinations continued to diversify, with Tanzania and South Africa
emerging among the top ten markets, alongside strong growth in exports to
Singapore. Imports from Latin America and West Africa recorded significant
growth, supported in part by the diversification of crude oil sourcing, thereby
enhancing resilience and flexibility in India’s import basket. At the same
time, Northeast Asia, West Asia-GCC and ASEAN remained important sources of
imports, together accounting for around half of India’s total imports. Trade
with FTA partners also gained further momentum, with exports increasing by
36.3% and imports by 10.0%, underscoring the strengthening of economic
partnerships and deeper integration of India with global trade and supply
chains.
India’s
position in Digitally Delivered Services (DDS) also strengthened, with exports
rising from $277 billion in 2024 to $317 billion in 2025, a 15% y-o-y increase.
India consequently moved from the fifth-largest to the fourth-largest DDS
exporter, only behind the US, UK and Ireland.
The
edition’s thematic focus on India’s Metals and Ores Trade highlights the
sector’s strategic importance for manufacturing, infrastructure development,
energy transition and advanced industries. Metals exports reached $34.8 billion
in 2025, with iron and steel, articles of iron and steel, and aluminium
together accounting for around 78% of exports. India has established strong
competitiveness in these segments, providing a solid foundation for further
expansion and value addition. At the same time, the evolving global demand for
higher-value non-ferrous metals and critical minerals presents significant
opportunities for India to deepen its capabilities, enhance domestic value
chains and strengthen its position in these strategic and emerging sectors.
Metals
and ores imports increased from $32.2 billion in 2015 to $60.5 billion in 2025,
reflecting the growing demand for key industrial and strategic minerals,
particularly copper, lithium, cobalt and nickel, in line with India’s expanding
manufacturing base, infrastructure development and energy transition
requirements. This evolving demand underscores significant opportunities to
strengthen domestic exploration, processing and specialised production
capabilities and enhance value addition across the metals and minerals value
chain.
Recent
reforms under the Mines and Minerals (Development and Regulation) Act, 1957,
including the MMDR Amendment Act, 2026, can strengthen fiscal predictability
and encourage investment in exploration, mine development and critical
minerals. At the same time, the European Union’s Carbon Border Adjustment
Mechanism (EU CBAM) underscores the need to enhance the competitiveness of
steel and aluminium exports. A coordinated value-chain approach covering
resource security, streamlined processes, lower logistics and financing costs,
trade safeguards, renewable-energy access, CBAM preparedness, advanced
materials and critical-mineral recycling can further strengthen India’s
position in global markets.
Addressing
the occasion, Shri Ashok Kumar Lahiri stated that “strengthening India’s trade
competitiveness will require continued diversification of export markets and
products, deeper integration with global and regional value chains, stronger
domestic capabilities in strategic sectors, and a policy environment that
enables firms to compete effectively in international markets.”
The
edition serves as a valuable resource for policymakers, industry, researchers,
and academia, offering data-driven insights and forward-looking policy
recommendations to support informed decision-making and strengthen India’s
trade competitiveness in an evolving global landscape.