India’s exports to US decline by 14% in Aug sequentially

India's exports to the US declined by round 14 per cent on a month-on-month foundation to USD 6.86 billion in August when the 50 per cent tariffs on Indian items by the Trump administration got here into impact in two tranches.

Indian exports to the US stood at USD 8 billion in July.

The US, nevertheless, continued to stay the highest export vacation spot for Indian items in August in addition to within the 5 months of the present fiscal 12 months.
On a yearly foundation, the exports to the US in August have been up 7.15 per cent, based on the Commerce Ministry knowledge.

The US had imposed a 25 per cent tariff on Indian items efficient August 7 and a further 25 per cent penalty for getting Russian crude oil efficient August 27.

After the US, the highest locations for Indian exports included the UAE (3.24 billion), the Netherlands (USD 1.83 billion), China (USD 1.21 billion) and the UK (USD 1.14 billion), based on the info.

Concerning imports, China accounted for USD 10.9 billion, adopted by Russia (4.83 billion), the UAE (4.66 billion), the US (3.6 billion) and Saudi Arabia (2.52 billion).