India’s total merchandise exports to be at $117.2 bn in Q1 FY23
PORTS & SHIPPING

India’s total merchandise exports to be at $117.2 bn in Q1 FY23

According to India Exim Bank, the country's total merchandise exports are expected to be at $117.2 billion in the first quarter (Q1) of FY23.

The total merchandise exports stood at $95.5 billion in the related quarter of the prior year, the bank said.

Non-oil exports continue to see a double-digit growth of 12.6%, amounting to $93 billion, during the first quarter of 2022-23, against $82.6 billion in the year-ago time.

As per the bank, the upgrade in the country's exports could be attributed largely to the continued growth in global commodity costs, driven by supply shocks, enhanced cost competitiveness owing to exchange rate movements and benefits from possible trade diversion.

The growth prediction may be subject to commodity cost volatility and uncertainties in the global economy, primarily pushed by the current geopolitical tension.

Exim Bank was launched by the Government of India (GoI), under the Export-Import Bank of India Act, 1981, as a purveyor of export credit, reflecting global Export Credit Agencies. Exim Bank functions as a growth engine for industries and Small and medium-sized enterprises (SMEs) via a broad range of products and services.

Image Source

Also read: EXIM Bank invites bids for 100 MW solar project in Bangladesh

According to India Exim Bank, the country's total merchandise exports are expected to be at $117.2 billion in the first quarter (Q1) of FY23. The total merchandise exports stood at $95.5 billion in the related quarter of the prior year, the bank said. Non-oil exports continue to see a double-digit growth of 12.6%, amounting to $93 billion, during the first quarter of 2022-23, against $82.6 billion in the year-ago time. As per the bank, the upgrade in the country's exports could be attributed largely to the continued growth in global commodity costs, driven by supply shocks, enhanced cost competitiveness owing to exchange rate movements and benefits from possible trade diversion. The growth prediction may be subject to commodity cost volatility and uncertainties in the global economy, primarily pushed by the current geopolitical tension. Exim Bank was launched by the Government of India (GoI), under the Export-Import Bank of India Act, 1981, as a purveyor of export credit, reflecting global Export Credit Agencies. Exim Bank functions as a growth engine for industries and Small and medium-sized enterprises (SMEs) via a broad range of products and services. Image Source Also read: EXIM Bank invites bids for 100 MW solar project in Bangladesh

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000