New Delhi, Dec. 21 -- India's exports to the US between May and November 2025 followed a clear two-phase pattern, first a sharp fall until September, followed by a partial recovery by November, according to an analysis by trade-focused think-tank Global Trade Research Initiative (GTRI).

India's exports to the U.S. fell 20.7% from $8.8 billion in May to $7.0 billion in November. The decline was much sharper earlier in the year: exports dropped 37.7% from May to September, hitting a low of $5.5 billion. From that trough, exports partly recovered by 27.3% between September and November, indicating a rebound after a steep mid-year fall.

According to the GTRI, nearly 85% of November exports came from sectors that first declined and then rebo...