Trade Relations
INDIA-UAE TRADE RELATIONS
India and the United Arab Emirates enjoy strong bonds of friendship based on age-old cultural, religious and economic ties between the two nations. As per Export Genius report on India-UAE bilateral trade shows that India’s total imports from UAE amounted to USD 17593 million and India’s total exports to UAE amounted to USD 23347 million from January to September 2017. And so, bilateral trade value between both the countries stood at USD 40940 million in the said period.
The United Arab Emirates is the 10th largest investor in India in terms of FDI (Foreign Direct Investment). Investment from UAE to India exceeds $11 billion, about $4-5 billion in the format of FDI. About 2.8 million Indians living in UAE repatriate $13.6 billion a year to India.
UAE’s investments in India are in sectors namely: Construction Development, Power, Air Transport, Shipping, Ports & Logistics, Hotel & Tourism, Metallurgical industry.
Visitor Data: Indians are on the top of the visitor list to Dubai with 2.1 million visitors in 2017 up by 15%.
India-UAE Bilateral Trade
Bilateral trade between India and UAE amounted to about USD 53 billion in 2016-17, according to a report prepared by Export Genius. Both the countries have decided to increase trade by 60% over the next five years. India is considered to be the UAE’s primary trade partner, accounting for about 9.8% of its total non-oil trade. It is also the largest importer of products from the UAE, buying about 14.9% of the country’s total exports and about 8.7% of its re-exports. It is expected that trade between India and the UAE is likely to hit USD 100 billion by 2020.
In a report on economic and trade relations between the UAE and the Republic of India, the Ministry of Economy in UAE recommended the strengthening of bilateral relations, increasing of the volume of joint investments and expansion of bilateral trade to make the United Arab Emirates India’s primary trade partner. The Ministry said the trade and investment sectors constitute the cornerstones of prosperous bilateral economic ties between the UAE and the Republic of India.
India Imports from UAE
India ranks 2nd among countries that import products from the UAE, which accounted USD 11255 million value. India UAE trade statistics of 2017 show that the country imported crude petroleum oil and other petroleum products & mineral fuels the most from the UAE.
India’s Top Imports from UAE in 2017
India’s major import products from the UAE are – Petroleum and Petroleum Products, Precious Metals, Stones, Gems & Jewelry, Wood, Chemicals and Minerals. India and UAE relations are basically highlighted from India’s imports of crude petroleum oil, diamonds and gold.
India Exports to UAE
The UAE is also India’s second largest destination for its exports, accounting for about 11.5% of the total imports by the UAE from India. India buys crude petroleum oil from UAE and at the same time, India supplies petroleum products to UAE.
India’s Total Exports to UAE in Last 5 Years
The total value of India’s exports to UAE in year 2013 and 2014 stood at above USD 30000 million, while in 2015, the figures recorded USD 29989 million. And the year 2016 recorded trade value of goods that were exported by India to UAE USD 30041 million. Till September 2017, the figures of India’s exports to UAE have crossed USD 23000 million.
India’s Top Exports to UAE in 2017
India’s major export products to the UAE are – Petroleum Products, Precious Metals, Stones, Gems & Jewelry, Minerals, Food Items including seafood, meat, tea, fruits & vegetables, sugar, cereals, etc., Textiles including yarn, cotton, synthetic, fibre, apparel garments, etc., Chemicals and Machinery Products.
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