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'Exports to touch $98 bn during Q2 of FY22'
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SME Times News Bureau | 10 Sep, 2021
Export-Import Bank of India (India Exim Bank) on Friday said it
forecasts India's total merchandise exports to $98.45 billion for the
second quarter of FY22.
According to India Exim Bank, India's
merchandise exports during the second quarter of FY22 is expected to be
$98.45 billion and non-oil exports to be $85.63 billion as against
$74.02 billion and $66.73 billion respectively logged during the
previous year corresponding period.
The rise in India's exports
could be attributed largely to the low base effect, pick-up in growth in
advanced economies and the resultant increase in global import demand,
India Exim Bank said.
Increase in commodity prices have also contributed to the increase in India's exports.
Forecast
of growth in India's total merchandise exports and non-oil exports are
released by India Exim Bank on a quarterly basis, during the first week
of the months of June, September, December, and March for the
corresponding quarters.
The next growth forecast for the third
quarter -- October-December 2021 -- would be released during the first
week of December 2021, India Exim Bank said.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 25 Oct, 2021 |
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