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 Transport

NHAI to Upgrade Tamil Nadu Highways

To reduce congestion on key national highways in Tamil Nadu, the National Highways Authority of India (NHAI) has planned capacity upgrades for at least eight highway stretches. The improvements will include bypasses, flyovers, and four-laning in Salem, Coimbatore, Tiruppur, Nilgiris, and Cuddalore. NHAI has invited tenders to appoint consultants for preparing detailed project reports (DPRs) on these expansions. The affected highways include NH-181, NH-81, NH-532, NH-85, and NH-136. Proposed Upgrades Across Highways - NH-181 (Coimbatore-Gundlupet Route): This stretch will see four bypasses an..

Next Story
Infrastructure Transport

Ludhiana-Bathinda Highway Revived as NHAI Invites Bids

The Ludhiana-Bathinda highway project, initially stalled due to land acquisition issues, has been revived as the National Highways Authority of India (NHAI) invites fresh bids to resume construction. The project, part of the Ludhiana-Ajmer Economic Corridor, is estimated to cost Rs 24.61 billion and will be executed in two phases. Package 1, covering 30.03 km, has a budget of Rs 9.06 billion, while Package 2, spanning 45.25 km, is set to cost Rs 15.55 billion. The NHAI had previously withdrawn the project due to unavailability of land. However, intervention from Union Minister for Road Trans..

Next Story
Infrastructure Urban

Dilip Buildcon Wins Rs 460M Arbitration

Infrastructure major Dilip Buildcon has secured an arbitration award of Rs 460 million against the National Highways Authority of India (NHAI) over delays and breaches during the execution of a highway project in Karnataka. The dispute pertains to the Rehabilitation and Upgradation of the Kerala Border to Kollegala Section of NH 212, awarded to Dilip Buildcon under an Engineering, Procurement, and Construction (EPC) agreement dated June 6, 2014. The project involved two-lane expansion with paved shoulders and four-lane development under the National Highways Development Project (NHDP) Phase IV..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?