India remained a significant trading partner of the United States in November 2025, as US trade data revealed a sharp increase in the nation’s overall trade deficit. According to figures released on January 29 by the U.S. Census Bureau and Bureau of Economic Analysis, the US goods and services trade deficit surged to $56.8 billion in November, nearly doubling October’s revised deficit of $29.2 billion. A trade deficit arises when imports exceed exports.
In November, the US recorded a goods trade deficit of $4.4 billion with India, marking it as one of the key countries with which Washington faced a notable trade gap. Overall, US exports fell to $292.1 billion, while imports climbed to $348.9 billion, pushing the deficit higher. The increase was largely driven by goods trade, although the US continued to maintain a surplus in services.
Among major economies, the largest goods trade deficits were recorded with Mexico ($17.8B), Vietnam ($16.2B), Taiwan ($15.6B), China ($14.7B), and the European Union ($14.5B). Other notable deficits included Germany ($7.4B), Japan ($4.7B), and India ($4.4B). Conversely, the US ran surpluses with Switzerland ($7.8B), the Netherlands ($5.6B), South and Central America ($5.1B), and the UK ($4.2B), along with smaller surpluses against Hong Kong, Brazil, Australia, Belgium, and Saudi Arabia.
The report attributed the decline in exports to lower shipments of industrial supplies, precious metals, crude oil, and consumer goods, including pharmaceuticals. Service exports grew slightly, supported by travel, intellectual property charges, and business services. Imports of consumer goods, particularly pharmaceuticals, and capital goods such as computers and semiconductors increased, while service imports fell modestly due to lower travel expenditures.
For the period from January through November, the US trade deficit rose by $32.9 billion, or 4.1%, compared with the same period last year. While both exports and imports increased, imports grew at a faster pace. The next report, covering December and the full-year 2025 trade data, is scheduled for February 19, 2026.
India-US trade relations have expanded steadily, covering goods such as pharmaceuticals and industrial products, as well as services including IT and business outsourcing. Analysts in India closely monitor US trade data to gauge global demand and trends in one of the country’s key export markets.
