New Delhi: Reflecting a clear trend of market diversification, Indian exporters registered positive growth in 24 countries during the first half of the current fiscal year, even as shipments to the US declined due to high tariffs in September, official data showed.
These 24 countries include Korea, UAE, Germany, Togo, Egypt, Vietnam, Iraq, Mexico, Russia, Kenya, Nigeria, Canada, Poland, Sri Lanka, Oman, Thailand, Bangladesh, Brazil, Belgium, Italy and Tanzania.
“24 countries with a total export of USD 129.3 billion recorded positive growth in export in April-September 2025-26 as against the same period last fiscal, amounting to a share of 59 per cent of India’s exports,” an official said.
During April-September this year, exports increased by 3.02 per cent to USD 220.12 billion, and imports rose 4.53 per cent to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion.
However, according to the Commerce Ministry data, India’s exports to 16 countries have registered negative growth during the first six months of the current fiscal. These nations account for about 27 per cent (USD 60.3 billion) of the country’s exports.
An exporter said the sweeping 50 per cent tariff by the US on Indian goods is hurting exports to America, but the exporting community is pushing exports to other geographies, including Africa, Latin America and the Middle East.
“The trend will continue in the coming months as well,” the exporter said.
India’s merchandise exports to the US declined by 11.93 per cent to USD 5.46 billion in September due to the high tariffs imposed by Washington, according to the data.
During the April-September period of this fiscal, the country’s exports to the US increased by 13.37 per cent to USD 45.82 billion, while imports rose 9 per cent to USD 25.6 billion, the data showed.
The US has imposed a sweeping 50 per cent tariff on Indian goods entering American markets from August 27. The two countries are negotiating a bilateral trade agreement to boost two-way commerce.
The US was the largest trading partner of India in 2024-25.
PTI
