India’s exports likely to rise by 15%, reach $36bn for Nov

INdia could escort its exports in the month of nov lift by around 15% to $36 one million million because it has successfully managed to radiate its export markets, two people with direct knowledge of the data said. The growth, from a little less than $32 billion last November comes amidst global headwinds, including steep tariffs levied by the US on exports from India.India’s merchandise exports growth in November was also accompanied by a significant reduction in imports, narrowing the trade deficit, the people added, requesting anonymity because data is preliminary, and based on an advance estimate.An import surge in October on the back of high gold and silver demand saw the trade deficit widening to a record $41.68 billion that month. Preliminary data shows a remarkable fall in trade deficit with significant reduction in imports of precious metals in November, the two people said.Although a high 50% US tariff imposed on Indian goods since August this year has adversely impacted India’s merchandise trade in its biggest market,the country has recovered from the shock to a great extent with trade diversification, the people added. While India’s merchandise exports to the US saw a sharp 12% year-on-year dip to $5.47 billion in September , the fall in the next month (October ) was 8.6% to $ 6.31 billion.Demand growth from markets such as China, Spain, Europe, United Arab Emirates (UAE) and Russia has helped India in making up for export losses in the US. According to published government data, Indian exports to China reported strong and sustained double-digit annualized growth every month from April onwards and saw an over 33% and 42% surge in September and October respectively.China emerged as the second fastest growing major export market for India after Spain in September and October – the months that saw the full impact of an unprecedented 50% tariff on Indian goods shipped to America, according to an analysis of the country’s top 20 export destinations. The US imposed a 25% reciprocal tariff on Indian goods from August 7, and topped this up on August 27 with another 25% punitive tariff for purchasing Russian crude. Although India has sharply reduced purchases of Russian crude, the US continues with the punitive tariff, the people mentioned above said.China emerged a significant buyer of Indian goods. India’s exports to China in October rose to $1.63 billion as compared to $1.14 billion in October 2024, a 42.35% jump. Exports to Spain saw a 43.43% annualized jump in October this year to $549.26 million. Similarly, India’s exports to China increased to $1.46 billion in September as against $1.09 billion in September 2024, registering 33.33% growth, again only second to Spain ($988 million with 151% annualized growth in September ).Sectors leading export growth included electronics and sea foods. India’s electronic goods export jumped by about 37.9% to $26.29 billion in the first seven months of 2025-26 as compared to $19.07 billion in the same period the previous year. India’s seafood exports, badly hit because of tariffs, saw a 11.66% increase to $4.69 billion in the first seven months of 2025-26 from $4.20 billion in April-October of 2024-25. Exporters have successfully diversified shipments to the European Union, Vietnam, China and Russia, the people cited above said.Even as India’s seafood exports to the US fell by little over 5% to $1.49 billion in April-October 2025 as compared to $1.57 billion in the same period last year, its shipments of marine products to Vietnam saw an over 103.5% jump to $346 million in April-October as compared to $170 million in the same period a year ago. While overall seafood exports to the EU have jumped by 40% during this period, there has been a 57% jump in Indian shrimp exports to the 27-nation bloc.The recent India visit of Russian President Vladimir Putin has opened up a new market for Indian goods, one of the people said. Indian agriculture and allied products could do well in Russia, he said. “India currently exports $452 million of (agricultural) products to Russia against their global import demand of $3,991 million,” he said. Engineering goods present one of the widest gaps with India exporting $90 million, while Russia imports $2,778 million in this segment, with room for growth as Russia diversifies away from China, he added.