Exports grew 6.7% in Aug despite Trump tariffs

But shipments to US hit 9-mth low

- SHREYA NANDI

Outbound shipments from India grew 6.7 per cent year-on-year (Yo-Y) to $35.1 billion in August, despite global uncertainties and steep double-digit tariffs imposed by the US on several Indian goods.

The growth in merchandise exports was partly due to a low base of $32.9 billion in August 2024. Sequentially, however, exports contracted 5.7 per cent from $37.24 billion in July.

According to data released by the Department of Commerce on Monday, exports to India's largest market-the US-rose 7.15 per cent Yo-Y to $6.86 billion, despite the imposition of a 25 per cent reciprocal tariff from August 7. However, exports to the US plummeted to a nine-month low in August.