Following a couple of months of decline, India's export figures to the United States experienced a resurgence in
November. The Global Trade Research Initiative (GTRI) attributes this rebound largely to adjustments in supply chains
and the replenishment of inventories in preparation for the holiday shopping season.
Notably, this recovery occurred even as the United States has been levying 50% tariffs on certain goods imported from
**November Trade Figures Show Strong Gains**
Specifically, exports to the US jumped by 22.61% in November, reaching $6.98 billion. This surge effectively reversed
the downward trend observed from May to September.
A closer look at specific sectors reveals the following:
* **Smartphones:** After a dip from $2.29 billion in May to $884.6 million in September, exports climbed to $1.8 billion
* **Gems and Jewelry:** This sector saw exports slide from $500.2 million in May to $202.8 million in September,
followed by a recovery to $406.2 million.
* **Machinery and Mechanical Appliances:** Exports in this category fell to $516.8 million in September before
rebounding to nearly peak levels, reaching $614.6 million in November.
* **Pharmaceuticals:** While shipments improved to $669.2 million in November, they remained below the levels seen in
* **Mineral Fuels and Oils (tariff-exempt):** Exports decreased from $291.5 million in May to $251.5 million in
September and then edged up to $274.3 million.
According to GTRI, the recent upswing follows an export downturn earlier in the year. The uncertainty around impending
tariff increases triggered this initial slump. Ajay Srivastava, the founder of GTRI, noted that American buyers
initially postponed placing orders and depleted their existing stock. "Once the higher tariffs became a certainty,
exporters and US buyers began adjusting. They absorbed some of the cost, renegotiated prices, and shifted their focus
towards products less affected by the tariffs or difficult to replace," Srivastava explained.
However, the GTRI cautions that this recovery may not be sustainable. They suggest that the rebound is more indicative
of businesses adapting to the higher tariffs, rather than a fundamental improvement in trade conditions. The think tank
also pointed out that companies are deploying short-term tactics to navigate the evolving trade landscape.