India Merchandise Exports to Grow 4.2% in Sept Quarter: Exim Bank
By Rediff Money Desk, Mumbai 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.
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.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.73 ( -2.85)
- 37190423
- Filatex Fashions
- 1.52 ( -8.43)
- 32714574
- IFL Enterprises
- 1.19 (+ 3.48)
- 31356361
- Vodafone Idea L
- 16.01 ( -0.62)
- 29460071
- Suzlon Energy Ltd.
- 80.40 (+ 4.99)
- 27385676
MORE NEWS
Hill Fort Capital Sells 20 Lakh Saregama Shares...
Hill Fort Capital Partners sold over 20 lakh shares of Saregama India for Rs 98 crore,...
GST Fake Registration Drive: CBIC Launches...
India's CBIC announces a nationwide drive against fake GST registrations from August 16...
Bharti Global Invests in BT Group: A Vote of...
Bharti Global acquires a significant stake in BT Group, signaling confidence in the...