India's exports show positive growth in 24 countries, despite decline in US shipments.

India's exports have registered positive growth in 24 countries during April-September 2025-26, accounting for 59% of the country's total exports. The 24 countries include Korea, UAE, Germany, Togo, Egypt, and Vietnam. However, exports to 16 countries, accounting for 27% of India's exports, have registered negative growth. India's merchandise exports to the US declined by 11.93% in September due to high tariffs imposed by Washington.

India's export performance during April-September 2025-26 has shown a mixed picture, with significant growth in 24 countries and negative growth in 16 others. The positive growth, accounting for 59% of India's total exports, includes major markets such as Korea, UAE, Germany, Togo, Egypt, and Vietnam. However, exports to 16 countries, representing 27% of India's exports, have registered negative growth.

The decline in India's merchandise exports to the US in September was particularly notable, with a 11.93% drop compared to August 2025. This decline can be attributed to the 50% tariff hike imposed by the US, which has significantly impacted Indian exports to that market. The tariff hike, effective since August 27, 2025, has made Indian goods more expensive in the US, leading to a decrease in demand and consequently, a drop in exports, according to a Times of India report.

Despite the US tariffs, India's exports to non-US markets have shown robust growth. Exports to these markets grew by 10.9% in September, up from 6.6% in August. This growth is driven by a sharp increase in exports of rice, buffalo meat, fruits, and vegetables. Rice exports, including basmati and non-basmati varieties, rose by over 10% on year to $5.63 billion during the April-September period, according to the the Financial Express.

The rise in agricultural and processed food exports, particularly buffalo meat, has been a significant contributor to India's overall export growth. India has emerged as the second biggest exporter of buffalo meat, with exports valued at $4.06 billion in FY25. The export destinations include Vietnam, Malaysia, Egypt, Iraq, Saudi Arabia, and the United Arab Emirates, as reported by the Financial Express.

The current account deficit (CAD) for India is expected to remain manageable, supported by strong services exports, steady remittances, and easing crude prices. Crisil forecasts the CAD at around 1% of GDP for the current fiscal year, compared to 0.6% last year. Despite the challenges posed by US tariffs and slower global growth, India's CAD is expected to remain under control.

In conclusion, while India's exports to the US have been negatively impacted by recent tariff hikes, the country's export performance to other markets has shown significant growth. This mixed performance highlights the need for diversified export strategies and the importance of adapting to changing global trade dynamics.