India's exports to US plummet 20% in September
India's exports to the US took a sharp 20.3% month-on-month decline in September 2025, dropping to $5.43 billion—a record monthly fall for this year.
This comes after four straight months of declines, mostly because the US slapped a hefty 50% tariff on Indian goods, hitting sectors like textiles, apparel, and gems and jewelry especially hard.
Exports to US drop by nearly 38% in 4 months
Exports to the US have been sliding for four months in a row, down from $8.8 billion in May to $5.5 billion by September—a total drop of nearly 38%.
Over half of what India sends to the US now faces tariffs, making it tough for Indian products to compete with those from places like Bangladesh or Vietnam.
The steep fall is raising real concerns about India's trade balance and economic stability.
India boosts exports to non-US markets
There's some good news: India boosted its exports to non-US markets by nearly 11% in September, with countries like Spain, UAE, China, Bangladesh, and Egypt seeing even higher growth—helping soften the blow from the US slump.
Overall merchandise exports even ticked up by 3.6%.
But with imports also jumping over 11%, India's trade deficit hit a 13-month high at $32.15 billion—highlighting why diversifying export markets really matters right now.