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India's goods exports are likely to hit $87.2 billion in the 1st quarter

Princess Tarfa

According to the Export-Import Bank of India (Exim Bank), India's total goods exports in the first quarter of FY22 would be $87.2 billion. According to Exim Bank, it would be around 70% greater than the $51.3 billion recorded in the same period previous fiscal year.

Non-oil exports are expected to increase by more than 68% year on year to $78.26 billion in the fiscal year 2021, up from $46.4 billion in April-June (FY21).

“The substantial increase in India's exports might be ascribed mostly to a low base effect, a rise in global oil prices, and robust growth in advanced economies,” the report added.

Whereas the peak of the second wave of Covid-19 pandemic infections in India in late April-May 2021 may well have dampened shipments throughout the quarter, shipments from India have remained rather strong.

The estimates are based on India Exim Bank's Export Leading Index (ELI) Model, which has been trending upward throughout the same quarter.

Retail investors in India might expect large IPOs raising Rs 1.12 lakh crore. Retail investors would have the opportunity to participate in high-quality IPOs, as numerous major brands, like LIC, will be on the list of future IPOs, which are expected to rise to Rs1.12 lakh crore. Among the planned offerings, insurance firm LIC is expected to launch a Rs 70,000-90,000 crore issue, according to market estimates. The financial services industry tops the IPO list.

Zomato, a food delivery service, will issue an Rs 8,250 crore IPO, while Go First, a private sector airline, would make a Rs 3,600 crore primary market offering.

Birla Sun Life Insurance is planning a Rs 2,000 crore-Rs 24,000 crore IPO, while Aptus, a home loan business, is planning to introduce a Rs 3,000 crore IPO.

Arohan Microfinance would offer Rs 1700-1800 crore, while Fincare Small Finance Bank would provide Rs 1300 crore.

Jana Small Finance Bank is intended to increase Rs 1200 crore, while Devyani International, Yum Brands' largest franchise, is expected to raise Rs 1400 crore.

Foreign Portfolio Investors (FPIs) have made a cumulative net investment of Rs 15,520 crore in Indian shares so far during June.

After withdrawing investments for two months in a row, FPIs have made a comeback. FPI net selling was Rs 9,659 crore in April and Rs 2,954 crore in May.

The recovery of overseas money coincides with a decrease in the number of daily Covid-19 cases and strong Q4 earnings.

FPIs' total net investment in 2021 is Rs 58,649 crore. With the surge of FPIs, important Indian equity indexes have recently reached fresh highs.

The BSE Sensex and Nifty50 on the National Stock Exchange (NSE) reached all-time intra-day highs of 52,641.53 and 15,835.55 points, on Friday.

According to Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, “we anticipate FPI flows to India to stay high in the medium term as India is on the verge of a growth restoration path.”

He went on to say that low-interest rates, a stronger outlook for exports, and a global economic recovery are a wonderful mix for India's economic restoration. According to Chouhan, the impending festival season would also help to boost domestic demand.

Meanwhile, India's agricultural exports (such as marine and plantation goods) have outpaced the epidemic, increasing 17.34% to $41.25 billion in 2020-21, according to a top commerce ministry official on Thursday.

Anup Wadhawan, commerce secretary, told the media that Agri exports will expand significantly in the fiscal year 2021 (FY21), after remaining stable for the previous three years ($38.43 billion in 2017-18, $38.74 billion in 2018-19, and $35.16 billion in 2019-20).

In currency terms, the growth is 22.62 %, with exports totaling Rs3.05 lakh crore in 2020-21, up from Rs2.49 lakh crore in 2019-20.

India's agriculture and allied imports totaled $20.64 billion in 2019-20, whereas the amount for 2020-21 is $20.67 billion. Despite COVID-19, the agricultural trade balance increased by 42.16%, from $14.51 billion to $20.58 billion.

Agriculture exports (excluding marine and plantation goods) would increase by 28.36% to $29.81 billion in 2020-21, up from $23.23 billion in 2019-20.

During the COVID-19 era, India was able to capitalize on rising demand for essential commodities.

Non-basmati rice exports increased by 136.04% to $4794.54 million; wheat exports increased by 774.17% to $549.16 million; and other cereals (millets, maize, and other coarse grains) increased by 238.28% to $694.14 million.

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