India's exports to the US fell by 28.5%

India’s exports to the United States fell sharply by 28.5% in October, impacted heavily by the steep tariff hikes imposed by the US government, according to a report by the Global Trade Research Initiative (GTRI). Between May and October 2025, India’s exports dropped from $8.83 billion to $6.31 billion. The decline began after the US imposed 10% tariffs on Indian goods in April, later increasing them to 25% and finally to 50% by the end of August. The report highlights that similar duties were also imposed on goods from China and Japan.

Even tariff-exempt product categories such as smartphones, pharmaceuticals, and petroleum products, which accounted for 40.3% of exports in October, saw a 25.8% decline compared to May. Exports of metals like steel, iron, aluminium, copper, and auto components — which face uniform global tariffs — also fell by 23.8% during the May–October period. Labor-intensive export sectors including textiles, garments, gems & jewelry, and seafood witnessed a significant 31.2% fall, severely impacting India’s traditional export strongholds.

Smartphone exports dropped from $2.29 billion in May to $1.50 billion in October, while chemical exports fell sharply by 38%. Petroleum product exports declined by 15.5%, and pharmaceutical exports decreased slightly. Overall, the GTRI report concludes that the aggressive tariff policies of the United States have delivered a major blow to India’s export performance across multiple sectors.