India's Exports to US May Fall by $5.76 Billion This Year

India's merchandise exports to the US from sectors such as marine items, gold, electrical, and electronics are expected to decline by $5.76 billion this year due to increased American duties, according to the data analysis of think tank GTRI.

- Press Trust of India

NEW DELHI:

However, it added that India's competitive position in select product segments may help cushion some of the losses.

Sectors which can witness modest gains include textiles, made-up apparel, ceramic products, inorganic chemicals, and pharmaceuticals.

The US has announced an additional 26% duty on Indian goods barring pharma, semiconductors and certain energy goods from April 9. The 10% baseline tariffs are there from April 5-8.

"Using detailed trade data and tariff schedules, the analysis estimates that India could see a decline of $5.76 billion, or 6.41%, in exports to the US in 2025," Global Trade Research Initiative (GTRI) said.

In 2024, India exported $89.81 billion worth of goods to the US.