India’s exports fell 11.8% year-over-year in October 2025 to USD 34.38 billion, reflecting the impact of softer global demand and tariff-related pressures, a preliminary estimate showed. Shipments to the United States, India’s largest export market, declined to USD 6.3 billion, down from USD 6.9 billion a year earlier amid ongoing US tariff measures. Over the April–October 2025–26 period, exports managed only a 0.6% increase, reaching USD 254.25 billion.