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Export-Import Bank of India (India Exim Bank) has said it forecasts India's total merchandise exports to $98.45 billion for the second quarter (Q2) 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.

India Exim Bank said 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. 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. India Exim Bank said the next growth forecast for the third quarter -- October-December 2021 -- would be released during the first week of December 2021.