India’s goods exports to the US dropped 8.6% year-on-year to USD 6.3 billion in October 2025, following a 12% fall in the previous month, owing to US President Donald Trump’s steep 50% tariffs that took effect in August, the Indian Express reported, citing official data released on Monday. The 50% tariff package comprises a 25% penalty for buying Russian oil and a 25% universal tariff. Product-wise export data to the US is yet to be released. Overall exports of engineering goods in October plunged 16.71%. Also declining were exports of textiles and apparel (8.34%) and gems and jewellery (25%). Electronics exports, however, jumped 25%. India’s trade surplus with the US, meanwhile, plunged 54%, from USD 3.17 billion in April to USD 1.45 billion in October. In total, exports fell 11.8% yoy to USD 34.38 billion in October, while imports surged to a record USD 76.06 billion, partly driven by gold and silver purchases, resulting in a record high trade deficit of USD 41.68 billion.
