US–India trade: India’s exports to US drop nearly 12% in September, imports rise 11.8%
India’s merchandise exports to the United States fell 11.93% to $5.46 billion in September amid Washington’s 50% tariff on Indian goods, while imports from the US rose 11.78% to $3.98 billion, according to data from the commerce ministry.During April–September FY26, exports to the US grew 13.37% to $45.82 billion, while imports increased 9% to $25.6 billion, the data showed, PTI reported. The two sides are currently negotiating a bilateral trade agreement to boost two-way commerce, with an Indian delegation holding talks in Washington.The sharp decline follows the tariff escalation that came into effect on August 27. According to the Global Trade Research Initiative (GTRI), shipments to the US dropped 17.9% in September from $6.87 billion in August — the steepest monthly fall this year and the fourth straight month of contraction.“September was the first full month when Indian goods faced Washington’s 50% tariff on most products,” GTRI founder Ajay Srivastava said, quoted PTI. He noted that between May and September, exports to the US have declined by nearly 37.5%, wiping out over $3.3 billion in shipment value.“The data confirm that the United States has become India’s most severely affected market since the tariff escalation began, with sectors such as textiles, gems and jewellery, engineering goods, and chemicals suffering the heaviest losses,” Srivastava added.By contrast, exports to China jumped 34.18% in September to $1.46 billion and grew 21.96% in the first half of FY26 to $8.41 billion. Imports from China rose 16.35% in September to $11.31 billion, and 11.25% in April–September to $62.88 billion.Among other trading partners, exports grew to the UAE, the UK, Germany, Saudi Arabia, Australia, Bangladesh, Brazil, and Italy, while shipments to the Netherlands, Singapore, and France declined. On the import side, inbound shipments fell from Russia, Korea, Australia, Vietnam, Germany, and Taiwan but increased from the UAE, Saudi Arabia, Singapore, Japan, Malaysia, the UK, and Thailand.
