India diversifies export basket as shipments to US decline: SBI research report

NEW DELHI, Nov 23: Share of India’s merchandise exports to other countries increased as shipments to the US declined since July 2025, indicating diversification of export basket across product categories, according to an SBI research report. India’s total merchandise exports during April-September 2025 inched up by 2.9 per cent to USD 220 billion compared to USD 214 billion in the year-ago period, the report said. Cumulative exports to the US also registered a growth of 13 per cent to USD 45 billion in the April-September period from USD 40 billion in the year-ago period, though there could be some front-loading…