Goods exports to the US are up 11.4% to $59.04 billion for this fiscal year till November.
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Today we look at India’s export resilience and the dash for cash in the quick commerce segment.
India clocked the highest goods exports for November in 10 years. Two factors seem to have helped the country counter Trump’s 50% tariff. Buoyant electronics exports, of which Apple iPhones are expected to be the largest chunk. And export diversification, including to China.
November trade data, just in, shows India’s exports rose to $38.13 billion — up 19.4% from a year earlier, the biggest jump since June 2022. This comes two months after the 50% tariffs became effective, though electronics and pharmaceuticals are exempt. Interestingly, goods imports were lower last month, thus helping shrink the trade deficit to $24.53 billion versus the record high in October of $41.7 billion. That should offer the currency and bond markets some relief. The rupee pared losses after hitting a fresh record low of 90.79 to the dollar earlier in the day.
India’s Exports Revive in November
This fiscal, goods exports to US rise 11.4% and China by 32.8%
Key highlights (April to November 2025)
Goods exports to the US are up 11.4% to $59.04 billion. Imports are also higher at $35.40 billion versus $31.19 billion.
Exports to China rose 32.8% to $12.22 billion, a mere fraction of imports that are at $84.27 billion, up 12.6%.
Electronic goods exports rose the most, followed by engineering goods. Marine products are up marginally, whereas sectors worst affected by tariffs — gems and jewelry and apparel — are stagnant. (Bloomberg)