India’s merchandise exports are expected to grow marginally to USD 82 billion (about Rs 5.82 lakh crore) during the current quarter of this fiscal, while non-oil exports may fall a tad to USD 69.48 billion (about Rs 4.93 lakh crore), Exim Bank has forecasted.
merchandise exports to increase from USD 81.4 billion to USD 82 billion, with
an expected growth rate of 0.6 per cent from a year ago during the second
quarter of 2019-20 (July-September), the Export-Import Bank of India (Exim
Bank) said in its forecast.
Also, the non-oil exports
to marginally decline by 0.2 per cent from USD 69.64 billion to USD 69.48
billion in this period, it said.
The forecasts are based on
Exim Bank’s Export Leading Index (ELI).
The ELI gauges the outlook
for country’s exports and is essentially developed as a leading indicator to
forecast growth in total merchandise and non-oil exports of the country on a
It is based on several
external and domestic factors that could impact exports of the country.
Exim Bank said the
forecast of growth in India’s total merchandise exports and non-oil exports
would continue to be released on a quarterly basis, during the first week of
the months of June, September, December, and March for the corresponding
quarters, with continuous improvisation to the model.