<p>The country's total merchandise exports are projected to grow 70.1 per cent to $87.2 billion in the first quarter of fiscal 2021-22 from $51.3 billion in the year, Export-Import Bank of India (India Exim Bank) said.</p>.<p>The non-oil exports may jump 68.5 per cent to $78.26 billion in the April-June period as compared with $46.4 billion in the corresponding period of fiscal 2020-21, it said.</p>.<p>"The sharp rise in India's exports could be attributed largely to the low base effect, pick up in global oil prices, and strong growth in advanced economies," according to a quarterly forecast by India Exim Bank.</p>.<p>While the peak of the second wave of infections of the Covid-19 pandemic witnessed in the country during the end April-May 2021 could have subdued exports during the quarter to some extent, outbound shipments from India have nevertheless been relatively resilient, it said.</p>.<p>The forecasts are based on India Exim Bank's Export Leading Index (ELI) model, which has shown an upward movement during the same quarter, it said.</p>
<p>The country's total merchandise exports are projected to grow 70.1 per cent to $87.2 billion in the first quarter of fiscal 2021-22 from $51.3 billion in the year, Export-Import Bank of India (India Exim Bank) said.</p>.<p>The non-oil exports may jump 68.5 per cent to $78.26 billion in the April-June period as compared with $46.4 billion in the corresponding period of fiscal 2020-21, it said.</p>.<p>"The sharp rise in India's exports could be attributed largely to the low base effect, pick up in global oil prices, and strong growth in advanced economies," according to a quarterly forecast by India Exim Bank.</p>.<p>While the peak of the second wave of infections of the Covid-19 pandemic witnessed in the country during the end April-May 2021 could have subdued exports during the quarter to some extent, outbound shipments from India have nevertheless been relatively resilient, it said.</p>.<p>The forecasts are based on India Exim Bank's Export Leading Index (ELI) model, which has shown an upward movement during the same quarter, it said.</p>