MUMBAI: India’s merchandise export is expected to grow at 4.9 per cent in Q4FY21, predicted Export-Import Bank of India in a report.

Accordingly, the report cited that total merchandise exports can amount to $78.6 billion, growing at 4.9 per cent.

Similarly, the non-oil exports are expected to grow.

They might reach $73.9 billion, growing at 12 per cent during the fourth quarter of 2020-21.

However, aggregate exports for 2020-21 are forecast to amount to $279.4 billion, witnessing a contraction of 10.8 per cent over 2019-20.

Besides, non-oil exports are forecast to amount to $256.8 billion, witnessing a contraction of 5.6 per cent over 2019-20.

“The fall in India’s exports of petroleum products could be attributed largely to the global slump in demand and especially in the transportation and logistics sectors,” the bank said in a statement.

“Considering the global contraction in trade due to pandemic, non-oil exports from India has been resilient. Despite serious disruptions and logistical constraints exports from India have remained upbeat.”