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India’s exports to the US besides fell by 21.77% to $6.6 cardinal successful January, mostly owed to the 50% tariffs imposed by the Donald Trump administration. (AI image)
India’s merchandise exports grew marginally successful January to $36.56 billion, up 0.61%. On the different hand, imports roseate sharply by 19.2% to $71.24 billion, compared to $59.77 cardinal successful the aforesaid play past year.
As a result, the country’s commercialized shortage widened to $34.68 cardinal successful January.Exports continued to stay connected an upward trajectory successful some goods and services segments. According to Commerce Secretary Rajesh Agrawal, the full exports of goods and services are expected to transverse $860 cardinal during the existent fiscal year.For the April to January period, exports accrued by 2.22% to $366.63 billion.
Trump tariffs deed India’s exports to US
India’s exports to the US besides fell by 21.77% to $6.6 cardinal successful January, mostly owed to the 50% tariffs imposed by the Donald Trump administration.The US imposed a wide 50% tariff connected Indian goods entering its marketplace from August 27. The 2 countries person since concluded an interim commercialized statement nether which the US removed 25% penal tariffs connected Indian products from February 7, portion reciprocal tariffs are acceptable to beryllium reduced to 18% from 25%. India’s exports are present competitively placed among determination peers.Exports had besides contracted successful September, October and December past year, though shipments had seen a maturation of 22.61% successful November.
Imports from the United States, meanwhile, accrued by 23.71% to $4.5 cardinal successful January, the information showed.During the April to January play of the existent fiscal year, India’s exports to the US roseate by 5.85% to $72.46 billion, portion imports grew by 13.87% to $43.92 billion.Exports to China surged by 55.65% to $1.63 cardinal during January, portion imports from China roseate 16.67% to $12.23 billion. For the April-January play of the fiscal year, exports to China accrued by 38.37% to $15.88 billion, whereas imports expanded by 13.82% to $108.18 billion.India’s exports to countries including the UAE, Netherlands, Germany, Saudi Arabia, Italy, Hong Kong, Spain, Belgium, Malaysia and Vietnam recorded affirmative maturation during the period nether review. In contrast, shipments to the UK, Bangladesh, Singapore, Australia, France and Brazil declined.On the import side, inflows fell from countries specified arsenic Russia, Iraq, Korea, Germany, Thailand and Australia, portion imports accrued from the UAE, Saudi Arabia, Switzerland, Singapore, Japan and Indonesia.
India chiefly imports golden from Switzerland, and purchases from the state jumped sharply by 836.85% successful January to $3.95 billion.
India’s Diversifying Exports Basket
According to the Global Trade Research Initiative (GTRI), the latest commercialized figures for January 2026 bespeak the important interaction of US tariffs connected India’s export performance, portion besides indicating aboriginal signs of diversification into different markets.“Shipments to the United States followed a wide three-phase signifier betwixt April 2025 and January 2026.
After a little uptick successful May, exports fell steadily from $8.3 cardinal successful June to $5.5 cardinal successful September arsenic tariff pressures intensified. A short-lived betterment followed, with exports rising to $6.3 cardinal successful October and $7.0 cardinal successful November, but the rebound faded erstwhile hopes of a speedy commercialized woody did not materialise.
Exports slipped again to $6.9 cardinal successful December and $6.6 cardinal successful January. With Washington expected to chopped reciprocal tariffs connected astir Indian goods from 50% to 18% this week, we expect a swift betterment successful shipments,” said GTRI successful a note.The broader information suggest that the slowdown is mostly concentrated successful shipments to the US alternatively than reflecting a planetary decline. “Exports to the remainder of the satellite remained resilient, edging up from $29.9 cardinal to $30.0 cardinal (+0.3%). The figures suggest that tariff barriers successful the US marketplace person driven India’s caller export slowdown, adjacent arsenic exporters statesman cautiously expanding beyond their largest azygous market,” GTRI added.
