Why in the News?
NITI Aayog released the 9th edition of Trade Watch Quarterly for Q1 FY27 (April-June 2026), analysing global and Indian trade trends with a special focus on metals and ores.
Key Highlights
- Global goods trade: $13.7 trillion in H1 2026, up 12.5% YoY.
- Global services trade: grew 10.5%.
- India’s total trade: $506.9 billion in Q1 FY27, up 15.5% YoY.
- India saw strong merchandise exports in:
- Mineral fuels
- Electrical machinery
- Nuclear reactors
- Iron and steel
- Vehicles
Metals and Ores
- Metals exports: $34.8 billion (2025).
- Iron and steel, articles of iron and steel, and aluminium contributed around 78% of metals exports.
- Metals and ores imports rose from $32.2 billion (2015) to $60.5 billion (2025).
- Key import-dependent minerals include:
- Copper
- Lithium
- Cobalt
- Nickel
Digitally Delivered Services
- Exports increased from $277 billion (2024) to $317 billion (2025).
- India became the 4th-largest DDS exporter, after the US, UK and Ireland.
Trade Diversification
- Tanzania and South Africa emerged among India’s top 10 export markets.
- Imports from Latin America and West Africa increased.
- Northeast Asia, West Asia-GCC and ASEAN together account for around half of India’s imports.
- Exports to FTA partners increased 36.3%, while imports rose 10%.
Policy Significance
- MMDR Amendment Act, 2026 can support exploration and investment in critical minerals.
- EU CBAM increases the need for competitive, low-carbon steel and aluminium exports.
- Priorities include:
- Domestic mineral exploration
- Recycling of critical minerals
- Value addition
- Renewable energy access
- Lower logistics and financing costs
- Export-market diversification
Important Full Forms
- NITI: National Institution for Transforming India
- DDS: Digitally Delivered Services
- FTA: Free Trade Agreement
- MMDR: Mines and Minerals (Development and Regulation)
- CBAM: Carbon Border Adjustment Mechanism
- GCC: Gulf Cooperation Council
Prelims Quick Revision
- Trade Watch Quarterly: NITI Aayog publication.
- Latest edition: 9th edition, Q1 FY27.
- India’s total trade: $506.9 billion.
- Metals and ores imports: $60.5 billion in 2025.
- India: 4th-largest digitally delivered services exporter.
