KOLKATA: India's merchandise exports fell 11.8 per cent year-on-year, since August 2024, to USD 34.38 billion in October, Crisil said in its report.

This follows a 50 per cent increase in US tariffs on August 27 this year, a move that has subdued exports for the second month in a row, the report said.

The decline in exports was broad-based across petroleum products, gems and jewellery and core sectors.

Petroleum products exports declined 10.4 per cent year-on-year in October, compared to a growth of 15.1 per cent in September. Similarly, core exports slipped to 10.2 per cent compared to 6.1 per cent growth in September 2025, the report said.

Merchandise exports to US decreased 8.6 per cent year-on-year to USD 6.3 billion in October. This was an improvement from the 11.9 per cent decli

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