Employees work inside a textile factory in Bhilwara, Rajasthan, India, on July 6, 2025.
Himanshu Sharma | AFP | Getty Images
India’s total merchandise exports rose 19% year-on-year to $38.13 billion in November due to a significant improvement in trade with the United States.
India’s merchandise trade deficit hit a record high of about $41.7 billion in October, but narrowed to $24.5 billion in November, exceeding the $32 billion forecast in a Reuters poll.
India’s exports to the US in November rose 22.6% to $6.98 billion, further exceeding the previous month’s exports of $6.31 billion.
India’s exports to the US fell by 8.6% in October and by 11.9% in September.
India’s exports of goods and services increased by 15.52% to $73.99 billion in November.
Exports of electronics, gems and jewelry, engineering products and even ready-made textiles improved in November compared to a year ago.
In August, the United States imposed an additional 25% tariff on imports from India, bringing the total tariff to up to 50%, one of the highest ever imposed by Washington on a trading partner, with textiles, gems, jewelry, and seafood being hit the hardest.
“Despite global headwinds, India recorded positive export growth in 14 of its 20 major trading partners, reflecting the growing diversification and resilience of its external trade,” said Rajeev Juneja, chairman of Indian industry body PHDCCI.
Trade negotiations between the US and India have been ongoing for months, but so far no deal has been reached. Both countries have begun to soften their stance, with US President Donald Trump hinting at reducing tariffs on India.
New Delhi is working with Washington to increase its purchases of oil and gas from the United States to reduce its trade surplus with Washington. The country is also expected to buy agricultural products from the United States.
Correction: This copy has been updated to correct currency units for important points.
