Exports Demonstrate Differing Trends in Foreign Markets
India's exports during the April–September 2025 period to 24 nations have grown, according to a Commerce Ministry report. The countries comprise Korea, UAE, Germany, Togo, Egypt, Vietnam, Iraq, Mexico, Russia, Kenya, Nigeria, Canada, Poland, Sri Lanka, Oman, Thailand, Bangladesh, Brazil, Belgium, Italy, Tanzania, and others.
These countries accounted for $129.3 billion (₹11.37 lakh crore) of India's exports, which is 59% of all of India's exports. Imports to the US fell in September because of the US government imposing large tariffs.
Overall Export and Import Performance
- India's total exports increased by 3.02% to $220.12 billion from April to September 2025, while imports increased by 4.53% to $375.11 billion.
- So, the trade deficit grew to $154.99 billion (₹13.64 lakh crore).
- At the same time, 16 countries saw their exports decline, accounting for 27% of export value or $60.3 billion.
Impact of US Tariffs on Indian Exports
- 50% tariffs by the US on Indian products from August 27 had a big impact on exporters.
- Indian exports of merchandise to the US fell 11.93% to $5.46 billion in September. For April–September, exports to the US increased by 13.35% at $45.82 billion since most of the exporters cleared consignments prior to when new tariffs came into place.
- Imports from the US also increased by 9% at $25.6 billion during the same period.
- Because of these tariff levels, at present the exporters are focusing on West Asia, Latin America, and Africa, which is going to follow in the coming few months.
Crisil Report: Current Account Deficit Still In Check
- According to a Crisil report, while exports to the US dipped, other nations' exports are doing well.
- Exports to the US were higher by 7% in August 2025, and in September they fell by 11.9%.
- Exports to non-US markets were higher by 6.6% in August and 10.9% in September.
- Crisil pointed out that though the tariff action is trying for the merchandise exports, the current account deficit (CAD) is manageable.
- This stability is supported by robust services exports, benign remittances, and declining crude oil prices. The report places the CAD at around 1% of GDP for the FY 2025–26.
