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Exim Bank expects merchandise, non-oil exports to grow over 12% in Q2 FY'19

Press Trust of India/New Delhi 13 Sep 18 | 03:10 PM

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Export-Import Bank of India (Exim Bank) expects India's merchandise exports as well as non-oil exports to grow over 12 per cent in the second quarter of the ongoing financial year.

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While the merchandise exports are likely to grow 12.3 per cent in September quarter, non-oil exports may witness 12.4 per cent growth during the period, Exim Bank said in a statement.

Merchandise exports during September quarter 2017-18 stood at $74.21 billion and non-oil exports stood at $65.17 billion.

The forecast is based on Exim Bank's Export Leading Index (ELI), which continued to show a positive growth momentum.

The next growth forecast for October-December would be released during the first week of December 2018.

ELI gauges the outlook for 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, Exim Bank said.

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