Export-Import Bank of India (India Exim Bank) on Friday said it forecasts India's total merchandise exports to $98.45 billion for the second quarter of FY22.
According to India Exim Bank, India's merchandise exports during the second quarter of FY22 is expected to be $98.45 billion and non-oil exports to be $85.63 billion as against $74.02 billion and $66.73 billion respectively logged during the previous year corresponding period.
The rise in India's exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand, India Exim Bank said.
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Increase in commodity prices have also contributed to the increase in India's exports.
Forecast of growth in India's total merchandise exports and non-oil exports are released by India Exim Bank on a quarterly basis, during the first week of the months of June, September, December, and March for the corresponding quarters.
The next growth forecast for the third quarter -- October-December 2021 -- would be released during the first week of December 2021, India Exim Bank said.
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