India’s merchandise exports are expected to grow by 51 percent to about $303.98 billion in nine months ending December 2021 over the same period in 2020, according to estimates by the Export-import Bank of India.

Of this, non-oil exports are pegged at $258.78 billion, up 40.9 percent over April-December 2020.

The rise in India’s exports could be attributed largely to the continued growth momentum in advanced economies and the resultant increase in global import demand, along with favorable global commodity prices.

Total merchandise exports may continue to cross the $100 billion mark for the second quarter in a row and could amount to $105.8 billion in October-December 2021 (Q3FY22), up from $75.8 billion in Q3FY21. The non-oil exports are expected $89.1 billion in Q3FY22 against $70.3 billion in October-December 2020, the bank said.