India Imports from United States was US$38.99 Billion during 2024, according to the United Nations COMTRADE database on international trade. India Imports from United States - data, historical chart and statistics - was last updated on August of 2025.

United States Imports from India was US$91.23 Billion during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from India - data, historical chart and statistics - was last updated on August of 2025.

How Tariffs are Impacting the Economy

Tariffs have a profound impact on the economy by increasing the cost of imports and reducing the affordability of goods and services. As tariffs raise the price of foreign products, businesses face higher costs for materials and components, leading to increased production expenses. This increase in costs is typically passed down to consumers, causing inflationary pressures.

Businesses are also forced to adapt to changes in trade patterns, often seeking alternative suppliers or shifting production to countries with more favorable tariff rates. The result is often disruption in supply chains, with longer lead times and less predictable costs.

Additionally, tariffs can lead to a reduction in consumer demand as higher prices discourage spending. On a broader scale, the implementation of tariffs can slow economic growth by reducing international trade and investment flows, diminishing the efficiency of global markets, and creating a more fragmented trade environment.

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Historical chart and dataset showing India tariff rates by year from 1990 to 2022.

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Freight Forwarding Market Size 2025-2029

The freight forwarding market size is forecast to increase by USD 51.62 billion at a CAGR of 4.1% between 2024 and 2029.

The market is experiencing significant growth due to the increasing international trade, which has led to a rise in demand for efficient and cost-effective logistics solutions. This trend is further bolstered by the adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in freight forwarding, enabling real-time tracking, predictive analytics, and automation of various processes. However, the market faces challenges in the form of escalating fuel and transportation costs, which can significantly impact the profitability of freight forwarding companies.
To capitalize on the market opportunities and navigate these challenges effectively, companies must focus on optimizing their operations through technology integration, strategic partnerships, and cost management initiatives. Additionally, offering value-added services such as customs clearance, warehousing, and supply chain consulting can help differentiate businesses and attract customers in a highly competitive landscape. Information technology plays a crucial role in streamlining logistics processes, including shipping schedules and documentation, for both freight forwarders, Sea freight, and shippers.

What will be the Size of the Freight Forwarding Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic world of freight forwarding, meeting shipping requirements is crucial for successful trade in the global market. Information technology plays a pivotal role in streamlining the process, enabling real-time tracking and efficient communication between parties. Negotiating tariffs and adhering to customs regulations are essential aspects of the industry, ensuring the transfer of goods in good condition. Best practices in freight forwarding include thorough documentation, effective communication, and adherence to industry standards.

Navigating the complexities of global trade requires a deep understanding of the latest trends and regulations. By staying informed and adhering to best practices, freight forwarders can ensure the smooth and timely transfer of goods, ultimately contributing to the success of their clients' businesses. Freight forwarders serve as intermediaries between shippers and logistics companies, managing the transportation of goods from their origin to the final destination.

How is this Freight Forwarding Industry segmented?

The freight forwarding industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Mode Of Transportation

  Land freight
  Ocean freight
  Air freight


Application

  Industrial and manufacturing
  Retail and E-commerce
  Food and beverages
  Healthcare
  Others


Service Type

  Transportation and warehousing
  Value-added services


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Mode Of Transportation Insights

The land freight segment is estimated to witness significant growth during the forecast period. The land freight segment, encompassing both road and rail transportation, is a crucial component of the global freight forwarding market. This segment plays a pivotal role in facilitating the movement of goods over land, supporting both domestic and international trade.Road freightThe road freight segment is dynamic and vital, involving the transportation of goods via trucks, trailers, and other road vehicles. It serves as a primary mode of transport for a wide range of commodities, including manufactured goods, consumer products, and raw materials. One of the key attributes of road freight forwarding is its flexibility and last-mile connectivity. Road transports ability to reach remote locations and access points unattainable by other modes of transport provides a competitive edge for timely and efficient deliveries.

The ocean freight segment is a vital part of the global freight forwarding market, enabling the transportation of goods via sea routes on a global scale. This segment includes a variety of services such as booking cargo space, managing documentation, coordinating shipments, and navigating customs procedures, all of which are essential for the smooth operation of international trade.One of the primary advantages of ocean freight forwarding is its cost-effectiveness and efficiency in transporting large volumes of goods over

The United States' total Imports in 2024 were valued at US$3.36 Trillion, according to the United Nations COMTRADE database on international trade. The United States' main import partners were: Mexico, China and Canada. The top three import commodities were: Machinery, nuclear reactors, boilers; Electrical, electronic equipment and Vehicles other than railway, tramway. Total Exports were valued at US$2.06 Trillion. In 2024, The United States had a trade deficit of US$1.29 Trillion.

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Customs Audit Market Size 2025-2029

The customs audit market size is forecast to increase by USD 6.51 billion, at a CAGR of 8.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing demand for efficient supply chain operations and the emergence of new customs regulations such as voluntary disclosure programs. These initiatives aim to streamline customs processes and mitigate potential risks, making customs audits an essential component of international trade. However, the market faces challenges, including the growing concern over cybersecurity breaches. As global trade becomes increasingly digital, the risk of data breaches and information theft increases, necessitating robust cybersecurity measures to protect sensitive data during customs audits.
Companies seeking to capitalize on market opportunities must prioritize compliance with evolving customs regulations and invest in advanced cybersecurity solutions to mitigate risks and maintain a competitive edge. Navigating these challenges requires a strategic approach, with a focus on transparency, efficiency, and innovation.

What will be the Size of the Customs Audit Market during the forecast period?

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The market is characterized by continuous evolution and dynamic market activities. Entities involved in international trade are subject to a complex web of regulations, including supply chain management, free trade agreements, trade data, export regulations, customs valuation, rules of origin, internal controls, and trade agreements. These regulations are not static but rather unfold with the ongoing unfolding of market activities and evolving patterns. Customs compliance plays a crucial role in this landscape, with entities seeking to adhere to regulations and mitigate risks associated with sanctions compliance, anti-dumping duties, trade remedies, and other trade measures. Customs brokers, freight forwarders, and trade finance providers are key players in facilitating international trade, while customs technology and automated systems enable efficient customs clearance.

Bonded warehousing, duty drawback, and inventory management are essential aspects of customs compliance, allowing entities to minimize duties and taxes and optimize their supply chain operations. Trade data and analytics are increasingly important tools for monitoring and responding to changing regulations and market conditions. Export controls and import regulations also shape the market, with entities needing to navigate the intricacies of tariff classification, customs investigations, and countervailing duties. Documentary credits and free trade zones offer additional complexities, requiring a deep understanding of the customs landscape and the ability to adapt to changing regulations and market conditions.

In this context, compliance audits are a critical component of risk management strategies, enabling entities to identify and address potential compliance issues and minimize the risk of penalties and disruptions to their international trade operations. The market is a dynamic and evolving landscape, requiring ongoing attention and adaptation to ensure compliance and optimize international trade operations.

How is this Customs Audit Industry segmented?

The customs audit industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  Customs audit services
  Customs advisory services


Type

  Financial audit
  Operational audit
  Compliance audit
  Risk management audit
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Service Insights

The customs audit services segment is estimated to witness significant growth during the forecast period.

The market encompasses various entities that play a crucial role in international trade, including sanctions compliance, anti-dumping duties, trade remedies, customs broker, letters of credit, bonded warehousing, duty drawback, inventory management, supply chain management, free trade agreements, trade data, export regulations, customs valuation, rules of origin, internal controls, trade agreements, freight forwarder, trade finance, compliance audits, import regulations, data analytics, export controls, duty rates, risk management, customs compliance, countervailing duties, documentary credits, free trade zones, tariff classification, customs technology, automated systems, and customs investigations. In developed economies

Introduction

The Global Third-Party Administrators (TPAs) In Health Insurance Market is expected to grow from USD 326.2 billion in 2023 to USD 506.6 billion by 2033, at a CAGR of 4.5%. This growth is mainly driven by the rising need for efficient claims handling, digital transformation in healthcare, and expanding health coverage schemes. As health insurance processes become more complex, the demand for expert administrative support continues to rise. TPAs play a crucial role by managing claims, policy servicing, and customer interactions. Their ability to handle large-scale data and deliver timely services makes them essential to modern insurance frameworks.

One of the major growth factors is the demand for accurate and efficient claims processing. Health insurance claims require careful management to avoid delays and errors. TPAs help insurers by offering specialized services that improve claims turnaround time. According to the Comptroller and Auditor General of India, TPAs are engaged for their technical expertise and customer-focused approach. Their involvement allows insurance companies to offload operational tasks and concentrate on underwriting and policy development. As a result, customer satisfaction improves due to quicker resolution of claims and better communication.

Government policies and regulatory reforms also contribute to market expansion. In India, initiatives like the Pradhan Mantri Jan Arogya Yojana (PM-JAY) have introduced millions of new health insurance beneficiaries. These large-scale programs often depend on TPAs to manage claims and ensure seamless service delivery. The Insurance Regulatory and Development Authority of India (IRDAI) has introduced several guidelines that standardize TPA operations. These reforms enhance transparency, streamline processes, and promote the broader use of TPAs across public and private insurance schemes.

Technological advancements have further boosted the TPA market. The integration of electronic health records, telemedicine platforms, and AI-powered claims processing tools allows TPAs to manage operations more effectively. Digital transformation reduces manual intervention, cuts processing time, and lowers administrative costs. TPAs can now operate more efficiently, process claims faster, and maintain data accuracy. This is particularly important in high-volume regions where millions of policyholders require quick and accurate services. The use of digital tools has also made it easier for TPAs to maintain compliance with regulatory standards.

Lastly, the expansion of private healthcare and the need for cost efficiency are also key drivers. In countries like Qatar, private insurers regularly depend on TPAs for day-to-day operations. Outsourcing administrative functions enables insurers to reduce internal costs while improving service quality. This approach allows insurance companies to focus on strategic areas such as market expansion and product development. As private healthcare systems continue to grow worldwide, the demand for TPA services is projected to rise accordingly.

US Tariff Impact on Third Party Administrators (TPAs) In Health Insurance Market

The imposition of U.S. tariffs on imported medical goods has created indirect yet serious implications for Third-Party Administrators (TPAs) in the health insurance sector. These entities handle essential functions like claims processing and provider network coordination. Tariffs under Section 301 have raised import duties—such as 50% on syringes and 25% on certain PPE. Johnson & Johnson expects $400 million in tariff-linked costs for 2025. These higher expenses are likely passed to insurers and TPAs, increasing the volume and complexity of claims they must process.

Rising healthcare costs are adding pressure to TPAs’ operations. In March 2025, the Consumer Price Index showed a 1.1% rise in hospital service costs and a 0.3% increase in physician services. These inflationary pressures impact TPAs by inflating reimbursement claims and administrative overheads. As medical service costs rise, TPAs must adopt more advanced claims adjudication systems to manage these financial challenges efficiently while ensuring compliance with payer requirements.

Tariff-driven supply chain disruptions have further strained healthcare delivery. The American Hospital Association noted continued U.S. dependence on Chinese medical imports due to limited alternatives. These disruptions can lead to delayed patient care and an increase in claims. As a result, TPAs are facing operational stress due to fluctuating medical inventories, impacting their ability to ensure timely claims resolution and provider reimbursements.

Employers absorbing rising production costs may adjust their health benefits to control expenses. This can lead to reduced coverage or the adoption of high-deductible health plans. Such changes shift the type and volume of claims TPAs handle. In response, TPAs must restructure their services and upgrade technologies to accommodate evolving plan designs. These developments demand greater adaptability to maintain cost efficiency and customer satisfaction in a changing healthcare financing landscape.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around ***** billion U.S. dollars.