Daijiworld Media Network – New Delhi

New Delhi, Oct 19: Indian exporters are increasingly diversifying their markets, with shipments to 24 countries recording positive growth in the first half of the 2025-26 fiscal year, official data revealed. This comes even as exports to the United States declined in September due to high tariffs.

The 24 countries showing growth include Korea, UAE, Germany, Togo, Egypt, Vietnam, Iraq, Mexico, Russia, Kenya, Nigeria, Canada, Poland, Sri Lanka, Oman, Thailand, Bangladesh, Brazil, Belgium, Italy, and Tanzania. Collectively, these markets accounted for $129.3 billion, representing 59% of India’s total exports during April-September.

Overall, India’s merchandise exports rose 3.02% to $220.12 billion in the first half of the fiscal year, while imports increased 4.53% to $375.11 billion, leaving a trade deficit of $154.99 billion.

However, exports to 16 countries, comprising around 27% ($60.3 billion) of India’s exports, showed negative growth in the same period. A major factor behind the decline in shipments to the US has been the 50% tariff imposed by Washington on Indian goods, which caused exports to fall 11.93% to $5.46 billion in September. Despite this, India’s cumulative exports to the US during April-September grew 13.37% to $45.82 billion, while imports from the US rose 9% to $25.6 billion.

An exporter noted that while the US tariffs pose challenges, the Indian exporting community is actively strengthening ties with regions such as Africa, Latin America, and the Middle East. “The trend of market diversification is expected to continue in the coming months,” the exporter added.