Expect $470-billion merchandise exports by year-end, says FIEO

Rupee trade mechanism with Russia to start soon, says FIEO

With global trade facing headwinds due to the ongoing conflict between Russia and Ukraine, merchandise exports from India are expected to grow at a slower pace during the current fiscal.
 

It may rise about 11 per cent to over $470 billion, apex body for exporters Federation of Indian Export Organisations (FIEO) said on Wednesday.

Exports grew 45 per cent year-on-year (YoY) to $422 billion in 2021-22.

Rising inflation and pile up of inventories in all major economies have affected the purchasing power, thus hitting demand.

Official data showed that outbound shipments from India hit a 13-month low at $33.92 billion,