Exports will increase by 6.3% from October to December, according to Exim Bank

The October–December quarter (Q3) of FY2024 is expected to see a year-over-year growth of 6.3% in India’s total merchandise exports, reaching $111.2 billion, according to the Export-Import (Exim) Bank of India.

According to Exim Bank, non-oil exports are expected to reach $88.1 billion, increasing 7.7% annually.

Following the negative growth observed in the first two quarters of the year, the positive growth rates are anticipated. “An improvement in India’s GDP growth outlook and the anticipated global easing of monetary tightening spurring global demand,” the report stated, could be the cause of the country’s positive development in exports.

However, among other things, the picture is vulnerable to concerns such as unclear prospects for advanced countries, geopolitical shocks, and growing geoeconomic fragmentation.