India, Dec. 16 -- India's merchandise exports in November 2025 were the highest in at least a decade. A healthy annualised growth rate of 19.38% for the month indicates resilience despite punishing tariffs imposed by the Donald Trump administration, given the US remains India's top export destination. Beyond the role a softer rupee could have played, some experts believe that rising US-bound shipment of products that were spared the high Trump tariffs have also contributed to the export performance.

The fact that China has displaced the Netherlands as India's third-largest export destination suggests nimble diversification by Indian exporters, who may have tapped alternative markets or trans-shipment hubs for the tariff-hit segments. Thi...