India's Exports To US Hit USD 59.93 Bn In April-Dec FY25

(MENAFN- KNN India) New Delhi, Jan 27 (KNN) Recent government data reveals significant growth in India's trade relationship with the United States, with exports showing particularly strong performance in the April-December period of the current fiscal year.

The country's exports to the US increased by 5.57 percent, reaching USD 59.93 billion, driven primarily by strong demand in the American market for Indian products. December alone saw an impressive 8.49 percent rise in shipments, totaling USD 7 billion.

Import figures also demonstrated positive momentum, with a 1.91 percent growth to USD 33.4 billion during the first nine months of 2024-25. December's imports specifically recorded a 9.88 percent increase, reaching USD 3.77 billion.

The bilateral trade volume between India and the United States during April-December 2024-25 amounted to USD 93.4 billion, slightly surpassing the USD 94.6 billion trade recorded between India and China during the same period.

Economic experts anticipate continued growth in bilateral trade between India and the United States in the coming months. They suggest that ongoing US-China trade tensions could create substantial export opportunities for Indian businesses.

The United States has maintained its position as India's largest trading partner since 2021-22, accounting for approximately 18 percent of India's total goods exports, over 6 percent of imports, and about 11 percent of overall bilateral trade.

However, potential challenges loom on the horizon. US President Donald Trump's recent statements regarding India's tariff structure have raised concerns among trade analysts.

In December, Trump criticised India's tariff rates and indicated his intention to impose reciprocal tariffs on certain Indian products. In response, economic experts, including Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), advocate for a measured but firm response from India.

Historical precedent exists for such actions, as demonstrated in 2018 when India responded to US tariffs on steel and aluminum by imposing countermeasures on 29 American products to recover equivalent revenue.

(KNN Bureau)

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