India's US Exports Plummet, Then Partially Recover Amid Tariff Shifts: GTRI

• India's exports to the US declined 20.7% overall from $8.8 billion in May to $7.0 billion in November 2025, as per GTRI.
• The sharpest drop was a 37.7% plunge between May and September, hitting a low of $5.5 billion.
• A partial recovery of 27.3% was observed from September to November, bringing exports to $7.0 billion.
• Key sectors like gems and jewellery, electronics, machinery, and pharmaceuticals followed this sharp decline and recovery pattern.
• GTRI noted an unusual trend: exports fell during lower tariffs but recovered under higher 50% tariffs, driven by buyer adjustments and holiday season restocking.

Why It Matters: India's US exports showed a volatile trend, declining sharply then partially recovering due to tariff adjustments.