New Delhi: India's merchandise exports to the United States rose 11.1 per cent to USD 50.81 billion during April–September 2026, despite tariff-related disruptions, while imports from the US increased by 26 per cent, according to data presented by the Ministry of Commerce and Industry on Thursday.
Exports to the US increased from USD 45.73 billion in the corresponding period last year, while imports rose to USD 32.33 billion from USD 25.66 billion.
The figures show that bilateral trade continued to expand despite tariff uncertainties, although India's merchandise trade surplus with the US narrowed to USD 18.48 billion from USD 20.07 billion a year earlier.
The US remained India's largest merchandise export destination during the first half of the current financial year.
Meanwhile, Commerce Secretary Rajesh Agrawal said negotiations for the proposed India-US trade agreement were progressing in the right direction, with both countries working towards concluding the deal at the earliest.
"The negotiations are in the right direction. Probably, we are in a very good zone. We anticipate closing the deal and signing it at the earliest possible time," Agrawal said during a press briefing.
He explained that the agreement would depend on the finalisation of the broader tariff framework in the United States, where a parallel process is underway under Section 301.
"The deal has to be signed when the overall tariff structure is getting formalised. There is parallel work being done in the US also to get back the tariff structure based on some of the outcomes of the 301," he said.
Agrawal further emphasised that India was seeking preferential access to the American market to ensure its exporters could compete effectively with other countries.
"When you do a trade deal, it gives you not only market access in each other's markets; it gives you preferential market access in a particular market," he said.
He added that India's preferential market access relative to its competitors would form part of the new tariff framework.
The ongoing negotiations are significant as both countries seek to strengthen bilateral trade ties while addressing tariff-related challenges affecting market access.