Tariffs trigger export pain for India as shipments shrink 37.5% in May-September

In textiles and garments also, shipments fell 37 percent, from $944 million to $597 million.

India's exports to the US have dipped 37.5 per cent during May-September 2025 from $8.8 billion in May to $5.5 billion in September, think tank GTRI said on Sunday.

It said that exports of pharmaceuticals, smartphones, metals and auto have declined during the period.

Pharmaceutical product exports dipped 15.7 percent from $745.6 million in May to $628.3 million in September. Industrial metals and auto parts facing uniform tariffs for all countries saw a modest 16.7 percent drop, from $0.6 billion to $0.5 billion.

Aluminium exports fell 37 percent , copper 25 percent, auto parts 12 percent, and iron-steel 8 percent, GTRI founder Ajay Srivastava said, adding that with similar duties on global suppliers, the dip likely reflects softer US industrial activity rather than lost competitiveness.

He added that labour-intensive sectors such as textiles, gems and jewellery, chemicals, agri-foods, and machinery endured a 33 percent decline, from $4.8 billion to $3.2 billion.

"The impact here was both deep and widespread," he said.

Exports of solar panels dropped 60.8 percent from $202.6 million in May to $79.4 million in September.

In textiles and garments also, shipments fell 37 percent, from $944 million to $597 million.

"Garments were down 44 percent, home textiles 16 percent, and yarn and fabrics 41 percent," he said adding marine and seafood exports declined 49 percent, from $223 million to $113 million, dealing a severe blow to one of India's most labour-intensive export sectors.

The US imposed a total of 50 percent tariff on a wide range of Indian products effective from August 27.