Mumbai (Maharashtra) [India], February 14 : The Export-Import Bank of India (India Exim Bank) has projected India's total merchandise exports for the fourth quarter (January-March) of the Financial Year (FY) 2025 to reach USD 124.8 billion, reflecting a year-on-year growth of 3.64 per cent.
India Exim Bank further forecasted that non-oil exports are expected to rise significantly, totalling USD 109.3 billion with a robust 11.34 per cent growth.
Meanwhile, non-oil and non-gems and jewellery exports are forecast to reach USD 98.5 billion, marking a 10.1 per cent year-on-year increase, the India Exim Bank said in a release.
The Exim Bank further added that the positive growth in India's exports could be a result of a strong agricultural harvest, a revival in manufacturing activity and improving demand prospects in trading partners.
The positive growth rate in total merchandise exports, non-oil exports, and non-oil and non-gems and jewellery exports, is likely to continue in the first quarter of the next financial year, it added.
"The outlook is, however, subject to risks of global trade policy uncertainty, rising geo-economic fragmentation and persisting geo-political tensions," the Exim Bank added in the release.
Going further, the Exim Bank added that with these forecasts, India's total merchandise exports for the full year of FY2025 are expected to be USD 446.5 billion, witnessing a 2.2 per cent increase over FY2024.
Non-oil exports are forecasted at USD 382 billion, while non-oil and non-gems and jewellery exports are forecast to touch USD 350 billion for FY2025, Exim Bank said.
Forecasts of growth in India's total merchandise exports and non-oil exports are released by Exim Bank every quarter, during the first fortnight of May, August, November, and February for the corresponding quarters, based on its Export Leading Index (ELI) model.
The next growth forecast for India's exports for the first quarter of FY 2026 (i.e., April-June 2025) will be released during the first fortnight of May 2025.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor