Tariffs, Turbulence, And Trade: How India’s Exports Stayed Resilient In November

Defying tariffs, Indian exports jump 19.37 per cent in November, signalling resilience and a stronger growth runway for FY26 and FY27.

The United States remained India’s top export destination during April-November 2025, regardless of the sound and fury over the Trump tariffs.

Source : Ian Taylor/Unsplash

India’s exports of goods and services in the current financial year (FY2026) may log 7.3 per cent growth and an increase of 10.4 per cent in FY2027, as per a forecast by Nomura Ratings. This development stands even as the country’s outbound shipments in November 2025 sustained momentum with merchandise exports spiralling up year-on-year by a robust 19.37 per cent at $38.13 billion as compared to $31.94 billion last year and imports falling steeply to $62.66 billion, led by a drop in