India-US trade: Merchandise exports to Washington up 16.9%; imports dip to $3.62 billion in May
India's merchandise exports to the United States grew by a staggering 16.93% year-on-year in May, reaching $8.83 billion. Imports from the US, on the contrary, dipped 5.76% to $3.62 billion, according to data released by the commerce ministry.
The upward trend continued into the April–May period, with exports to the US climbing 21.78% to $17.25 billion. Imports during the same period, however, rose by a sharper 25.8% to $8.87 billion.
The US emerged as India's second-largest trading partner during April and May, PTI reported.
Despite the US maintaining steep tariffs of 25% on products like steel, aluminium and auto components, officials say India's exposure to these restrictions has been limited so far.
Commenting on the impact of high US tariffs on steel, aluminium, and auto parts, special secretary in the department of commerce Rajesh Agrawal said India's steel and aluminium exports to the US are limited, so the effect has been minimal.
Auto parts face a uniform duty across all countries, 'we have not seen a big dent,' Agrawal added.
However, he cautioned that if the tariffs continue for long or if certain countries receive exemptions, Indian exporters could face challenges.
Among other key markets, exports to China also posted strong growth: up 25% in May to $1.64 billion and 18.75% over April–May to $3.04 billion.
Imports from China, meanwhile, rose 21.16% in May to $10.31 billion and 24.23% in the two-month period to $20.22 billion.
India also saw positive export growth to countries like Singapore, Germany, Australia, Belgium, Korea and Russia in May.
However, outbound shipments declined to several other major destinations, including the UAE, the UK, Netherlands, Bangladesh, Saudi Arabia, France, and Brazil.
On the import side, India's purchases from Russia, Iraq, Saudi Arabia, Indonesia and Qatar fell in May, while imports from the UAE, Japan, Korea, Singapore and Germany increased.
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