New Delhi, Apr 12 (PTI) The Exim Bank today said India’s merchandise exports are expected to grow 5.96 per cent during the fourth quarter ended March 31, 2018.

The forecast, it said, is based on bank’s Export Leading Index (ELI) model.

Exim Bank has developed an in-house model to generate ELI for India to track and forecast the movement in India’s exports on a quarterly basis.

“Based on the model, Exim Bank’s leading index for the country’s exports (ELI) came in at 113.56 for the fourth quarter of 2017-18,” it said in a release.

As part of its initiative, Export-Import Bank of India (Exim Bank) will forecast the growth in India’s exports on a quarterly basis.

The release said the bank would release such forecast report in the coming quarters beginning with the first week of the months of June, September, December and March, for the corresponding quarters, with continuous improvisation to the model.

“The next growth forecast for India’s exports for April-June 2018 would be released during the first week of June 2018,” Exim Bank said.

The trade data for March is expected to released in the coming days.

This is published unedited from the PTI feed.