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U.S. tariffs caused India’s exports to drop 37.5% from May to September 2025, hurting key industries.
India’s exports to the U.S. fell 37.5% from May to September 2025, dropping to $5.5 billion, according to the Global Trade Research Initiative, driven by U.S. tariff hikes from 10% to 50% starting in April.
Key sectors including smartphones, pharmaceuticals, gems and jewellery, and solar panels saw steep declines, with smartphone exports plunging 58%.
Tariff-free exports dropped 47%, and labor-intensive industries lost 33% of their value.
GTRI cited both tariffs and weaker U.S. demand, warning that without urgent government support like faster duty refunds and emergency credit, India risks losing market share to Vietnam, Mexico, and China.
Los aranceles estadounidenses provocaron que las exportaciones de la India cayeran un 37.5% entre mayo y septiembre de 2025, lo que perjudicó a las industrias clave.