India’s merchandise exports to the United States fell by 11.93% to USD 5.46 billion in September, impacted by Washington’s 50% tariffs on Indian goods, while imports from the US grew 11.78% to USD 3.98 billion, as per commerce ministry data. During April–September 2025, exports to the US rose 13.37% to USD 45.82 billion, and imports increased 9% to USD 25.6 billion. The two countries are currently holding discussions in Washington to finalize a bilateral trade pact aimed at strengthening economic ties.
Think tank GTRI reported that shipments to the US plunged 17.9% in September from USD 6.87 billion in August—the steepest monthly decline of 2025 and the fourth straight fall. Founder Ajay Srivastava noted that September was the first full month under the new tariff regime, and since June, exports have dropped 37.5%, reducing monthly trade by over USD 3.3 billion. Sectors like textiles, gems and jewellery, engineering goods, and chemicals were hit hardest.
Meanwhile, exports to China surged 34.18% in September to USD 1.46 billion and 21.96% in April–September to USD 8.41 billion, with imports also rising. Exports to countries such as the UAE, UK, Germany, and Australia grew, while those to the Netherlands, Singapore, and France declined.