India Merchandise Exports to Grow 4.2% in Sept Quarter: Exim Bank
Aug 12, 2024 21:30
India's merchandise exports are expected to rise by 4.2% to USD 111.7 billion in the September quarter, driven by strong economic activity and improving global demand.
Mumbai, Aug 12 (PTI) The Export-Import Bank of India on Monday said country's merchandise exports are likely to grow 4.2 per cent to USD 111.7 billion in the September quarter of this fiscal.
Of this, the non-oil exports will account for USD 89.8 billion, and grow at 6.26 per cent, the policy bank said.
"Positive growth in India's exports could be as a result of India's continued strong economic activity backed by sustained momentum in manufacturing and services sector, expected global monetary easing and improving demand prospects in trading partners," an official statement said.
It added that the outlook is subject to risks of uncertain prospects for advanced economies, geopolitical shocks, the middle east crisis, global supply chain disruptions and deepening geoeconomic fragmentation, among other factors.
The bank said that we have witnessed a positive growth rate in exports for the last three quarters, and the same is likely to continue.
It uses the Export Leading Index (ELI) model to make the estimates on a quarterly basis.
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