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India Exim Bank forecasts merchandise exports to reach $108.1 billion in Q2 FY26
Aug-18-2025

Export-Import Bank of India (India Exim Bank) forecasts total merchandise exports to amount to $108.1 billion, a growth of 4.5 per cent, while non-oil exports are forecast to amount $92.1 billion, with a growth of 5.2 per cent, during July-September of FY26 (Q2 of FY26). 

It said non-oil and non-gems and jewellery exports are forecast to amount $82.7 billion, with a year-on-year growth of 2.3 per cent, during the second quarter. Growth in India's exports could be as a result of base effect, along with expected continued buoyancy in manufacturing activity supported by increased capacity utilisation and congenial financial conditions, favourable prospects of current trade negotiations with several countries, and an expansionary monetary policy in India. 

It further said the outlook is, however, subject to risks of higher tariffs and global trade policy uncertainty affecting global demand, rising geo-economic fragmentation and persisting geo-political tensions. Forecast of growth in India's total merchandise exports, non-oil exports, non-gems and jewellery exports are released by Exim Bank on a quarterly basis, during the first fortnight of the months of May, August, November, and February for the corresponding quarters, based on its Export Leading Index (ELI) model. 


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