India’s total merchandise exports will be worth $124.8 billion in the fourth quarter (Q4) of fiscal 2024-25 (FY25)—a year-on-year (YoY) growth of 3.64 per cent, Export-Import Bank of India recently projected.
While non oil exports are projected to reach $109.3 billion, with a YoY growth of 11.34 per cent during the quarter, exports excluding oil and gems and jewellery are forecast to reach $98.5 billion—a YoY growth of 10.1 per cent, a release from the bank said.
Positive growth in India’s exports could be the result of strong agricultural harvest, revival in manufacturing activity and improving demand prospects in trading partners, it noted.
The positive growth rate in total merchandise exports, non-oil exports, and non-oil and non-gems and jewellery exports, are likely to continue in first quarter of the next financial year, it remarked.
The outlook is, however, subject to risks of global trade policy uncertainty, rising geo-economic fragmentation and persisting geo-political tensions, it said.
With these forecasts, India’s total merchandise exports for FY25 are expected to be worth $446.5 billion, witnessing a 2.2-per cent increase YoY. Non-oil exports are forecast at $382 billion, while non-oil and non-gems and jewellery exports are forecast to touch $350 billion for FY25.