Exim Bank expects India's merchandise exports to grow at 10.6% in Q1

Exim Bank sees India's merchandise exports growing 10.6 per cent in the first quarter of the current financial year, 2018-19.

The total merchandise exports during the April-June quarter of last fiscal, 2017-18, stood at USD 71,535.70 million, said the Export Import Bank of India.

It said that based on its internal Export Leading Index Model, India's total merchandise export is expected to witness a growth rate of 10.6 per cent and non-oil exports at 6 per cent in the June quarter, over the year ago period.

The non-oil exports in the year-ago period were at USD 64,100 million.

Exim Bank said has developed an in-house model, based on continued research initiatives, to generate an Export Leading Index (ELI) for India to track and forecast the movement in India's exports on a quarterly basis.

The ELI gauges the outlook for the country's exports and is essentially developed as a leading indicator to forecast growth in total merchandise and non-oil exports of the country, on a quarterly basis, based on several external and domestic factors that could impact exports of the country.