India's Exports to US Plummet 22% in January Amid High Tariffs

• India's merchandise exports to the US declined by 21.77% to USD 6.6 billion in January due to high tariffs.
• The US imposed a 50% tariff on Indian goods from August 27, but an interim trade deal has reduced punitive duties.
• Under the new deal, the US removed 25% duties from February 7, and reciprocal tariffs will drop to 18% from 25%.
• Imports from the US grew by 23.71% to USD 4.5 billion in January.
• Exports to China surged by 55.65% to USD 1.63 billion in January, while imports rose by 16.67% to USD 12.23 billion.