India diversifies export basket as shipments to US fall: SBI report

Share of India’s merchandise exports to other countries increased as shipments to the US declined since July 2025, indicating diversification of export basket across product categories, according to an SBI research report.

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India’s total merchandise exports during April-September 2025 inched up by 2.9 per cent to $220 billion compared to $214 billion in the year-ago period, the report said.

Cumulative exports to the US also registered a growth of 13 per cent to $45 billion in the April-September period from $40 billion in the year-ago period, though there could be some front-loading effects to the aftermath, with September figures registering negative year-on-year growth of about 12 per cent, said ‘Ecowrap, the SBI’s research report.