“We forecast India’s total merchandise exports to continue to cross the USD 100 billion mark for the third consecutive quarter in a row, amounting to USD 111.3 billion, growing at 23 per cent, and non-oil exports to amount to USD 95.2 billion, growing at 15.8 per cent, during the fourth quarter (January-March) of 2021-22,” the bank said.
This compares to USD 90.4 billion and USD 82.2 billion of total exports and non-oil exports, respectively, for the corresponding quarter of the previous year.
The rise in India’s exports could be attributed largely to the continued global growth momentum and the resultant increase in global import demand, along with favourable global commodity prices, it said.
The development finance institution, however, said that the growth forecast may be subject to commodity price volatility, and uncertainties in the global economy mainly driven by the current geopolitical tension.
