India's Export Trajectory: A Glimpse into the Future

The Export-Import Bank of India forecasts 1.85% growth in merchandise exports and 7.39% in non-oil exports for Q4 2024. The positive trend is attributed to strong economic activity and improved demand. However, uncertainties in the global economy pose risks to these projections.

The Export-Import Bank of India has projected a 1.85% increase in India's merchandise exports, reaching USD 107.5 billion for the fourth quarter of 2024. Non-oil exports are set to rise 7.39% to USD 91.7 billion, according to the policy bank's recent estimates.

The bank attributes this growth to India's robust economic activity, driven by the manufacturing and services sectors, alongside enhanced demand from trading partners. These gains are expected despite potential risks such as economic uncertainties in certain global regions and disruptions in the supply chain.

The Export Bank's in-house Export Leading Index (ELI) supports these forecasts, highlighting anticipated positive movements in India's export figures. Yet, factors like geopolitical instability and protectionist policies could threaten these optimistic projections.

(With inputs from agencies.)