India Exim Bank forecasts non-oil exports at $68.3 b in Q3

India’s non-oil exports are expected to rise marginally by 0.3 per cent to $68.3 billion during October-December quarter of the current fiscal, over the corresponding quarter of the previous year, after three consecutive quarters of contraction, says Exim Bank. Non-oil exports commodities includes gems and jewellery, petroleum products, textiles and apparel.

Total merchandise exports are expected to continue to moderate to $77.6 billion in the third quarter of 2020-21, as compared to $79 billion in the corresponding quarter of the previous year, on the back of one of the steepest and continued contractions in India’s oil exports, witnessed since March 2020.

These forecasts are based on Exim Bank’s Export Leading Index (ELI) model.  The ELI gauges the outlook for the country’s exports on a quarterly basis, based on several external and domestic factors that could impact exports of the country.