<h1>Market diversification drives export growth despite steep foreign tariffs curbing shipments to one major partner.</h1> Indian merchandise exports recorded positive growth in 24 countries totalling USD 129.3 billion (59% share) in April-September 2025-26; overall exports rose 3.02% to USD 220.12 billion while imports rose 4.53% to USD 375.11 billion, leaving a trade deficit of USD 154.99 billion. Exports to 16 countries fell, representing about 27% (USD 60.3 billion) of exports. A foreign economy's 50% tariff from August 27 was associated with an 11.93% decline in Indian shipments to that market in September, though year to date exports to that market increased 13.37% to USD 45.82 billion, and bilateral trade talks are underway.