Overview
- A new GTRI analysis shows shipments to the US fell from $8.8 billion in May to $5.5 billion in September 2025 after successive tariff hikes.
- Duties on Indian goods started at 10% on April 2, rose to 25% on August 7, and reached 50% by late August, with previously tariff‑free items plunging 47%.
- Smartphone exports slid 58% to $884.6 million in September and pharmaceuticals fell 15.7% to $628.3 million, while gems and jewellery tumbled about 59.5%.
- Solar panel exports dropped 60.8% as competitors faced lower US rates (China about 30%, Vietnam about 20%), and metals and auto parts declined 16.7% amid softer US industrial demand.
- GTRI warns of lasting market-share losses to Vietnam, Thailand, Mexico and China, as exporter groups push for interest-equalisation support, faster duty remission and emergency credit lines.