The non-oil and non-gems and jewellery exports are forecast to reach $82.7 billion, witnessing a growth of 7.8 per cent YoY.
“Positive growth in India’s exports could be as a result of India’s continued strong economic activity backed by sustained momentum in manufacturing and services sector, improving demand prospects in trading partners, supported by expected global monetary easing,” Exim Bank said in a press release.
India’s merchandise exports are forecast to grow by 1.85 per cent year-on-year (YoY) to $107.5 billion in the Q3 of FY25, with non-oil exports rising 7.39 per cent to $91.7 billion, as per Exim Bank of India.
Non-oil, non-gems exports may reach $82.7 billion, up 7.8 per cent YoY.
Growth is driven by strong domestic activity but faces global risks and uncertainties.
It, however, said that the outlook is subject to risks of global uncertain prospects in select advanced and emerging economies, geoeconomic fragmentation, the Middle East and West Asia crisis, risk of intensification of protectionist policies, and global supply chain disruptions, among other factors.
The positive growth rate in total merchandise exports, non-oil exports, and non-oil and non-gems and jewellery exports, are likely to continue in last quarter of the financial year, it said.
Fibre2Fashion News Desk (SG)
