US tariffs bite: India’s engineering exports slump 16.7% in October; ASEAN, EU and UAE shipments weaken

India’s engineering exports plunged 16.71% in October 2025, hitting $9.37 billion, largely due to a significant drop in shipments to the US and a high base effect. Key markets like ASEAN also saw steep declines. Despite this monthly dip, cumulative exports for April-October 2025 showed a modest 1.68% growth.