The Export-Import Bank of India (Exim Bank) expects India’s merchandise exports to grow by 2.2% in FY25, reaching $446.5 billion. Several key factors drive this positive growth, and the bank anticipates that it will continue despite global uncertainties.
The Exim Bank attributes India’s export growth to a robust agricultural harvest, a revival in manufacturing activity, and improving demand prospects among trading partners.
The projection for goods exports in the fourth quarter of FY25 is $124.8 billion, reflecting a year-on-year increase of 3.64%.
Looking ahead, the momentum is expected to carry into the first quarter of the next financial year.
However, the report also points out that trade policy uncertainty and geopolitical tensions pose potential risks that could affect the pace of export growth.
The forecast for non-oil exports stands at $382 billion for FY25, with non-oil and non-gems and jewelry exports predicted to touch $350 billion. This marks a significant portion of the overall merchandise export growth, further underscoring the diversification of India’s export basket.
While external factors such as geopolitical instability and trade policy uncertainty may create challenges, India’s export sector remains on a positive trajectory, buoyed by strong agricultural performance, manufacturing revival, and favorable global demand.
The forecasted export growth signals optimism for India’s trade outlook in FY25.
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