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India’s goods exports to the US, its largest foreign market, plunged 20% in September and 37.5% over four months as Washington’s 50% tariffs took hold, including a 25% penalty tied to Delhi’s Russian oil purchases. GTRI said labour-intensive sectors—textiles, gems and jewellery, engineering goods and chemicals—were hardest hit. Shipments fell from $8.8bn in May to $5.5bn in September, pushing India’s trade deficit to a 13-month high of $32.15bn. Some losses were cushioned by improved trade with the UAE and China. Trade talks have resumed, with a deal targeted next month amid sticking points on agriculture and dairy.

Prepared by Christopher Adams and reviewed by editorial team.