Exim Bank expects merchandise exports from India to grow marginally to $ 82 billion in the second quarter

New Delhi, September 10 () Indian merchandise exports are expected to grow marginally to USD 82 billion (around Rs 5.82 lakh crore) during the current quarter of this fiscal year, while non-oil exports may fall a little at USD 69.48 billion (around Rs 4.93 lakh crore), Exim Bank has forecast.

Indian merchandise exports will increase from USD 81.4 billion to USD 82 billion, with an expected growth rate of 0.6 percent over the previous year during the second quarter of 2019-20 (July-September), the Bank of Export and Import of India (Exim Bank) said in its forecast.

In addition, non-oil exports decreased marginally by 0.2 percent from USD 69.64 billion to USD 69.48 billion in this period, he said.

The forecasts are based on the Exim Bank Leading Export Index (ELI).

The ELI measures the outlook for the country's exports and develops essentially as a leading indicator for forecasting the growth of total merchandise and non-oil exports in the country quarterly.

It is based on several external and internal factors that could affect the country's exports. Exim Bank said that the forecast of growth in total merchandise exports from India and non-oil exports would continue to be published quarterly, during the first week of June, September, December and March for the corresponding quarters, with improvisation continuity to the model. KPM RVK