The country’s outbound shipments to the United States of leather goods fell 11.9% on-year in August, while those of pearls, precious and semi-precious stones nosedived 54.2% and handmade carpets declined 13.85%, showed disaggregated data released by the commerce and industry ministry.
The US imposed an across-the-board 25% tariff on all Indian-origin goods, effective August 7. These were doubled from August 25.
Growth in India’s exports to the US slowed to a nine-month low of 7.15% in August. Shipments rose 18.06% in the first five months of this fiscal year.
As per the data, exports of marine products to the US fell 32.99%. Among others, tyres declined by 35%, gold and other precious metal jewellery by 18.6%, cotton readymade garments by 13.2% and drug formulations by 7.01%.
Kitchen staples like tea, spices and basmati rice also witnessed a decline in exports by 27.43%, 9.79% and 2.33%, respectively.