Mumbai: The non-oil annual trade volume between
India and Dubai has soared to $10.9 billion in 2006
from $2.5 billion during 2002. Bilateral trade by over
336 per cent in the past five years, with the total
trade volume touching .
80 per cent of the trade between India and the UAE is
routed through Dubai.
is poised to get further boost in the coming years,
Venu Rajamony, the new Indian consul-general, said here.
between UAE and India has diversified and rapid economic
growth of the Indian economy has made it an attractive
destination for investments from the UAE. Indian companies
have become more robust and confident with the rapid
economic growth and are entering Dubai and northern
Emirates in larger numbers," he said.
Dubai Department of Economic Development issued 8,318
licences during the first half of 2006 for businesses.
The maximum number of foreign investors in that period
came from India, with 1,152 investors.
has emerged as Dubai''s largest export destination ahead
of Pakistan, Iran and Kuwait. However, China leads the
show followed by India.
exports to Dubai touched $6.4 billion while Dubai exported
goods worth $4.5 billion to India last year.
exported diamonds worth $1.3 billion to Dubai last year.
top five commodities exported to Dubai comprised of
diamonds, jewellery, platinum, gold and scrap of precious
on the other hand exported ferrous waste and scrap,
aluminium waste and scrap, copper waste and scrap and
paper waste and scrap to India last year.