India’s exports to the United States have nosedived for the fourth consecutive month, recording a 37.5 per cent slump between May and September 2025, as escalating US tariffs continue to weigh heavily on outbound shipments, according to a new analysis by the Global Trade Research Initiative (GTRI).

The report, released on November 2, said India’s exports to its largest trading partner fell from $8.8 billion to $5.5 billion during the five-month period — marking one of the sharpest short-term declines in recent years. Advertisement

The GTRI study compared trade data from May-September 2025 to gauge the immediate fallout of a series of tariff hikes imposed by Washington from April 2 onwards. The duties began at 10 percent, were raised to 25 percent in early August, and hit 50 percent by

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