Export-Import Bank of India (India Exim Bank), Friday stated that it projects India’s total merchandise imports at $98.45 billion in the second quarter of FY22.
India Exim Bank predicts that India’s merchandise exports in the second quarter FY22 will be $98.45 Billion and its non-oil exports will be $85.63 Billion, compared to $74.02 billion and $66.73B respectively for the previous year.
India Exim Bank stated that the rise in India’s exports could be due to the low base effect and pick-up of growth in advanced economies, as well as the increase in global import demand.
The increase in India’s exports has also been attributed to an increase in commodity prices.
India Exim Bank releases quarterly forecasts of India’s growth in total merchandise exports as well as non-oil exports on a quarterly basis. This is done during the first week for the quarters of June, September and December.
India Exim Bank stated that the next growth forecast for the quarter, October-December 2021, would be published in the first week of January 2021.