Indian Economy News

India’s merchandise exports to grow by 12.3% in June quarter: Exim Bank

The Export-Import Bank of India has projected robust growth in India's total merchandise exports to US$ 116.7 billion in the ongoing first financial quarter, showcasing a 12.3% year-on-year increase. This upward trajectory is underpinned by strong economic fundamentals and sustained activity in both manufacturing and services sectors. Moreover, the Exim Bank anticipates non-oil exports to surge by 10.7% to reach US$ 93.9 billion during the same period, indicating a broad-based growth across various segments of India's export landscape.

These forecasts by the Exim Bank are buoyed by expectations of a global easing of monetary tightening, which is poised to bolster global demand and further propel India's export growth. Highlighting robust GDP growth fundamentals and positive sectoral outlooks, particularly in manufacturing and services, the Exim Bank's report underscores multiple factors contributing to the optimistic export outlook. This aligns with the World Trade Organization's projections, anticipating a gradual recovery in global merchandise trade volumes, driven by alleviating economic pressures and increasing incomes.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.