ID :
41545
Mon, 01/19/2009 - 17:28
Auther :
Shortlink :
https://oananews.org//node/41545
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Non-oil trade between India and the UAE grows 24% to US$29.02b
Non-oil trade between India and the UAE rose 24 per cent to US$29.02 billion in the 2007-2008 fiscal year, making UAE India's third-largest trading partner after the United States and China, latest figures provided to Gulf News by the Indian embassy in Abu Dhabi show.
India's fiscal year runs from April to March.
India's non-oil exports to the UAE in the last fiscal year rose to US$15.47 billion from US$13.61 billion, a year earlier.
India's non-oil imports from the UAE during 2007-2008 were valued at US$13.56 billion, higher than US$9.79 billion in 2006-07 financial year.
"The trade balance, as far as the non-oil trade is concerned, remains in India's favour, though it dropped to US$1.91 billion from US$3.82 billion the previous year, mainly due to competition from China, US and Japan," a senior Indian embassy official said.
Figures for India's crude oil and oil product imports from the UAE and India's exports of petroleum products to the UAE were not immediately available.
India's major exports to the UAE comprise petroleum products, finished precious and semi-precious jewellery, machinery, textiles and apparel and cereals. India's imports from the UAE are mainly crude oil, petroleum products, raw pearls and precious metals, electrical machinery and equipment and iron and steel.
Talmiz Ahmad, India's ambassador to the UAE, said India is making efforts to boost exports to the UAE.
"Besides trade delegations and participation in various specialised promotional events here, we are proposing to organise an exclusive Indian trade fair in Abu Dhabi in December 2009," said Ahmad.
"This fair will showcase India's industrial products and will also provide space for India's services sector including information technology, health, education and financial services."
India's fiscal year runs from April to March.
India's non-oil exports to the UAE in the last fiscal year rose to US$15.47 billion from US$13.61 billion, a year earlier.
India's non-oil imports from the UAE during 2007-2008 were valued at US$13.56 billion, higher than US$9.79 billion in 2006-07 financial year.
"The trade balance, as far as the non-oil trade is concerned, remains in India's favour, though it dropped to US$1.91 billion from US$3.82 billion the previous year, mainly due to competition from China, US and Japan," a senior Indian embassy official said.
Figures for India's crude oil and oil product imports from the UAE and India's exports of petroleum products to the UAE were not immediately available.
India's major exports to the UAE comprise petroleum products, finished precious and semi-precious jewellery, machinery, textiles and apparel and cereals. India's imports from the UAE are mainly crude oil, petroleum products, raw pearls and precious metals, electrical machinery and equipment and iron and steel.
Talmiz Ahmad, India's ambassador to the UAE, said India is making efforts to boost exports to the UAE.
"Besides trade delegations and participation in various specialised promotional events here, we are proposing to organise an exclusive Indian trade fair in Abu Dhabi in December 2009," said Ahmad.
"This fair will showcase India's industrial products and will also provide space for India's services sector including information technology, health, education and financial services."
