India merchandise exports to grow 33% to $98.45 bn in Q2 of FY22: Exim Bank
- IBEF
- September 13, 2021
The country’s merchandise exports will grow 33% to amount to US$ 98.45 billion in the second quarter of FY 2021-22, said India Exim Bank, joining a lot of institutions forecasting the economy to improve as coronavirus cases decrease.
Non-oil exports will amount to US$ 85.63 billion, growing at 28.3% compared to the corresponding quarter in the financial year before. “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,” said the Bank.
An increase in commodity prices contributed to exports growing.
S&P Global Ratings said it expected India to post strong economic growth in coming quarters, even as inflation, led by food prices, is likely to remain elevated,
The economy is expected to clock 9.5% growth in the current fiscal year, followed by 7% expansion in the next year, it said,
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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