UPSC Prelims Practice Questions — Total exports (merchandise & services) during April 2026 is estimated at US$ 80.80 Billion, as compared to US$ 71.13 Billion during April 2025, an estimated growth of 13.59 %

Question 1

India's merchandise exports during April 2026, as released by the Ministry of Commerce & Industry, were estimated at approximately:

Accepted Answer

US$ 43.56 Billion

Answer

US$ 33.97 Billion

Answer

US$ 37.24 Billion

Answer

US$ 80.80 Billion

Question 2

The monthly merchandise foreign trade statistics of India, including the April 2026 quick estimates, are officially compiled by which one of the following organisations?

Accepted Answer

Directorate General of Commercial Intelligence and Statistics (DGCI&S)

Answer

Reserve Bank of India

Answer

Directorate General of Foreign Trade (DGFT)

Answer

National Statistical Office (NSO)

Question 3

With reference to the institutional architecture for compilation and administration of India's foreign trade, consider the following pairings of organization and function:
1. Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata — compilation of monthly merchandise (goods) trade statistics.
2. Reserve Bank of India — compilation of services exports and imports data as part of the Balance of Payments.
3. Directorate General of Foreign Trade (DGFT) — implementation of the Foreign Trade Policy.
4. NITI Aayog — levy and collection of customs duties on India's merchandise exports and imports.
Which of the above pairings is/are NOT correctly matched?

Accepted Answer

4 only

Answer

1 and 2 only

Answer

3 only

Answer

2 and 4 only

Question 4

With reference to how India's merchandise trade data and services trade data are compiled, consider the following statements:
1. While monthly merchandise export-import data are compiled by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata, the monthly data on services exports and imports are compiled by the Reserve Bank of India.
2. DGCI&S functions as a subordinate office under the Department of Commerce, whereas the RBI compiles services trade data as an integral part of India's Balance of Payments statistics.
3. Unlike merchandise data — which DGCI&S sources principally from Daily Trade Returns (DTRs) received from Customs formations and Special Economic Zones — the RBI's monthly services figures are provisional and are subsequently revised when the quarterly Balance of Payments is released.
Which of the statements given above is/are correct?

Accepted Answer

1, 2 and 3

Answer

1 only

Answer

1 and 2 only

Answer

2 and 3 only

Question 5

The Foreign Trade Policy 2023 is formulated, notified and operationalised by which one of the following bodies?

Accepted Answer

Directorate General of Foreign Trade (DGFT), under the Department of Commerce

Answer

Directorate General of Commercial Intelligence and Statistics (DGCI&S), under the Department of Commerce

Answer

Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry

Answer

Directorate General of Trade Remedies (DGTR), under the Department of Commerce

Question 6

Which one of the following provides the principal conceptual framework adopted by the Reserve Bank of India for the compilation of India's Balance of Payments statistics?

Accepted Answer

International Monetary Fund's Balance of Payments and International Investment Position Manual (BPM6)

Answer

United Nations System of National Accounts (SNA), 2008

Answer

World Trade Organization's Manual on Statistics of International Trade in Services

Answer

OECD Benchmark Definition of Foreign Direct Investment, 4th edition

Question 7

With reference to the institutional and structural framework of India's Balance of Payments, consider the following statements:
1. The current account of India's Balance of Payments comprises merchandise trade, services, primary income and secondary income.
2. External Commercial Borrowings (ECBs) and Non-Resident Indian (NRI) deposits are recorded under the capital account, not the current account.
3. Monthly merchandise trade data are compiled by the Reserve Bank of India, whereas the overall Balance of Payments statement is compiled by the Directorate General of Commercial Intelligence and Statistics (DGCI&S) under the Ministry of Commerce and Industry.
Which of the statements given above is/are correct?

Accepted Answer

1 and 2 only

Answer

2 and 3 only

Answer

1 and 3 only

Answer

1, 2 and 3

Question 8

Which of the following are correctly identified as among India's top merchandise EXPORT commodities (by value) in April 2026?

Accepted Answer

1 and 3 only

Answer

2 and 4 only

Answer

1, 3 and 4 only

Answer

1, 2 and 3

Question 9

With reference to India's services exports profile, consider the following statements:
1. India is among the world's top ten exporters of commercial services as of 2024.
2. Software (computer) services account for over 40% of India's total services exports.
3. In telecommunications, computer and information services, India is the single largest exporter in the world.
4. India's share in global services trade has more than doubled between 2005 and 2024.
Which of the above is/are correctly identified?

Accepted Answer

1, 2 and 4

Answer

1, 2 and 3

Answer

2 and 4 only

Answer

1, 3 and 4

Question 10

With reference to India's external sector in April 2026 compared with April 2025 / earlier benchmarks, consider the following statements:
1. India's share in world commercial services exports in 2024 was more than double its share in 2005.
2. In April 2026, India's services exports grew at a faster year-on-year pace than its merchandise exports.
3. Computer/software services constitute a larger share of India's services exports basket than travel services.
Which of the statements given above is/are correct?

Accepted Answer

1 and 3 only

Answer

1 only

Answer

1 and 2 only

Answer

1, 2 and 3

Question 11

Consider the following pairings of export promotion schemes/institutions of India with their administering Ministry or agency:
1. Remission of Duties and Taxes on Exported Products (RoDTEP) — Ministry of Commerce and Industry
2. Rebate of State and Central Taxes and Levies (RoSCTL) on apparel exports — Ministry of Textiles
3. Export Promotion Capital Goods (EPCG) Scheme — Directorate General of Foreign Trade
4. ECGC Limited — Ministry of Finance
Which of the statements given above is/are correctly identified?

Accepted Answer

1, 2 and 3 only

Answer

1 and 2 only

Answer

2, 3 and 4 only

Answer

1, 2, 3 and 4

Question 12

Which one of the following is the principal Government of India-owned entity that provides export credit insurance cover to Indian exporters and to banks lending to exporters?

Accepted Answer

ECGC Limited

Answer

Export-Import Bank of India (EXIM Bank)

Answer

Small Industries Development Bank of India (SIDBI)

Answer

National Bank for Financing Infrastructure and Development (NaBFID)

Question 13

Which one of the following groups of countries constitutes the European Free Trade Association (EFTA), with which India's Trade and Economic Partnership Agreement (TEPA) came into force in October 2025?

Accepted Answer

Switzerland, Norway, Iceland and Liechtenstein

Answer

Switzerland, Sweden, Finland and Denmark

Answer

Norway, Sweden, Denmark and Iceland

Answer

Switzerland, Austria, Norway and Liechtenstein

Question 14

With reference to India's recent trade agreements with its major partners, consider the following statements:
1. The India–UK Comprehensive Economic and Trade Agreement (CETA), signed in July 2025, provides duty-free access for approximately 99% of India's exports to the United Kingdom.
2. The India–EFTA Trade and Economic Partnership Agreement (TEPA), which came into force in October 2025, contains a binding commitment of USD 100 billion in investment and one million direct jobs over a 15-year horizon.
3. The India–Australia Economic Cooperation and Trade Agreement (ECTA), which came into force in 2022, was India's first comprehensive trade agreement concluded with a country of the Middle East and North Africa (MENA) region.
Which of the statements given above is/are correct?

Accepted Answer

1 and 2 only

Answer

2 and 3 only

Answer

1 and 3 only

Answer

1, 2 and 3

UPSC Prelims Practice Questions — Total exports (merchandise & services) during April 2026 is estimated at US$ 80.80 Billion, as compared to US$ 71.13 Billion during April 2025, an estimated growth of 13.59 %

Q1. India's merchandise exports during April 2026, as released by the Ministry of Commerce & Industry, were estimated at approximately:

Q2. The monthly merchandise foreign trade statistics of India, including the April 2026 quick estimates, are officially compiled by which one of the following organisations?

Q5. The Foreign Trade Policy 2023 is formulated, notified and operationalised by which one of the following bodies?

Q6. Which one of the following provides the principal conceptual framework adopted by the Reserve Bank of India for the compilation of India's Balance of Payments statistics?

Q8. Which of the following are correctly identified as among India's top merchandise EXPORT commodities (by value) in April 2026?

Q12. Which one of the following is the principal Government of India-owned entity that provides export credit insurance cover to Indian exporters and to banks lending to exporters?

Q13. Which one of the following groups of countries constitutes the European Free Trade Association (EFTA), with which India's Trade and Economic Partnership Agreement (TEPA) came into force in October 2025?