The Export-Import Bank of India said on Monday that the country's merchandise exports are expected to increase by 4.2% to $111.7 billion in the September quarter of the current financial year. Out of this, non-oil exports are projected to reach $89.8 billion, registering a growth of 6.26%, according to the policy bank.
"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 has observed a positive growth rate in exports over the past three quarters, which is expected to persist. The Export Leading Index model is utilised to project these estimates quarterly.
(With PTI inputs.)
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