Despite the global headwinds, India’s exports in the June quarter are expected to cross $110 billion, finds Exim Bank. Exim Bank has predicted that merchandise exports for the April-June quarter of FY23 will be around $117.2 billion—growth of 22.7 per cent over the same quarter last year. Of this, non-oil exports are likely to account for $93 billion. In the first quarter of FY22, the country had clocked exports of $95.5 billion and of this, non-oil exports was $82.6 billion.
This will be the fourth consecutive quarter when merchandise exports would cross $100 billion. The slowdown in growth across the globe and the Ukrainian crisis was expected to hit exports in the June quarter. Exim Bank attributed the rise in India’s exports largely to the continued increase in global commodity prices.
