India’s exports of key labour-intensive items such as garments, leather products, engineering goods, gems & jewellery and chemicals, took a hit in October as 50 per cent US tariffs, imposed in August-end, made Indian products less competitive in the American market.

On the positive side, while Indian exports to the US declined 8.6 per cent in October (year-on-year) to $6.3 billion from $6.9 billion in October 2024, posting a fall for the second consecutive month, it was 14.5 per cent higher than exports of $5.5 billion in September 2025.

Exporters are hoping that India and the US will be able to reach an agreement on the reciprocal tariffs soon, with both sides trying to close negotiations on the first tranche, which would restore demand.

“Although in the April-October period this year,

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