Exports to the United States (US) rose 5.57% to Rs. 5.18 lakh crore (US$ 60 billion) during April-December in FY25 on high demand
- IBEF
- January 27, 2025
India's exports grew by 5.57% to Rs. 5.17 lakh crore (US$ 59.93 billion) during the April-December period of FY25, driven by strong demand for domestic goods, particularly in the American market. In December 2024, exports rose 8.49% to Rs. 60,466 crore (US$ 7 billion). Meanwhile, imports during the same period increased by 1.91% to Rs. 2.88 lakh crore (US$ 33.4 billion), with December imports rising by 9.88% to Rs. 32,565 crore (US$ 3.77 billion). Experts predict continued growth in trade between India and the United States, which remains India's largest trading partner since FY22, accounting for around 18% of India's goods exports and over 6% of imports.
The total bilateral trade between India and the United States (US) for April-December FY25 stood at Rs. 8.07 lakh crore (US$ 93.4 billion), slightly lower than the Rs. 8.17 lakh (US$ 94.6 billion) trade with China. Experts believe the ongoing shifts in global trade dynamics, particularly between the US and China, present significant opportunities for Indian exporters to expand their market share. While there have been discussions about potential tariffs on Indian goods, India remains well-equipped to navigate these challenges, as demonstrated in previous instances. For example 2018, India responded strategically to US tariffs on steel and aluminium by implementing targeted duties on 29 US products, ensuring that trade relations remained balanced and mutually beneficial.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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