Exports to grow at 10.6 & in Q1 FY 2019 : Export-Import Bank of India

Posted by Daily Shipping Times on 13-06-2018        Tweet

The total merchandise exports during the April-June quarter of last fiscal, 2017-18, stood at USD 71,535.70 million

MUMBAI: Export-Import Bank of India sees India's merchandise exports growing 10.6 percent in the first quarter of the current financial year, 2018-19. The total merchandise exports during the April-June quarter of last fiscal, 2017-18, stood at USD 71,535.70 million, said the Export-Import Bank of India.

It said that based on its internal Export Leading Index Model, India's total merchandise export is expected to witness a growth rate of 10.6 percent and non-oil exports at 6 percent in the June quarter, over the year ago period.

The non-oil exports in the year-ago period were at USD 64,100 million.

Export-Import Bank of India said has developed an in-house model, based on continued research initiatives, to generate an Export Leading Index (ELI) for India to track and forecast the movement in India's exports on a quarterly basis.

The ELI gauges the outlook for the country's exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country, on a quarterly basis, based on several external and domestic factors that could impact exports of the Country.