Khaleej Times reported that the UAE was India’s top trading partner in 2008 to 2009 with 2 way trade for non oil products valued at USD 44.5 billion. The UAE was also India’s top export destination with exports amounting to USD 24 billion.

From April 2008 to March 2009, India’s imports from the UAE amounted to USD 20.6 billion after China which was USD 31.3 billion.

In terms of regional groupings, the GCC was India’s number one trading partner with total 2 way non oil trades amounting to USD 87 billion. India’s exports to the GCC were USD 31.4 billion after the European Union with USD 39 billion. The GCC was India’s number one source with imports amounting to USD 55.5 billion. GCC remittances to India from 2008 to 2009 were over USD 30 billion about USD 10 billion to USD 12 billion were from the UAE.

Mr Shashi Tharoor minister of State for External Affairs of India disclosed these statistics at a press conference in Abu Dhabi.

Mr Tharoor was in the UAE on a 4 day visit to boost UAE and India bilateral relations particularly on economic and political issues. In his meeting with the Mr Shaikha Lubna Al Qasimi UAE Minister for Foreign Trade, the Indian Minister has stressed the importance of increased investments at both countries and expressed his keenness to move forward the GCC free trade agreement.

He said that “We will be happy to have Gulf investors in our equity market. ‘

He also highlighted the investment opportunities in India for power generation and infrastructure development such as construction of roads and major highways as well as airports. He said “There are golden opportunities that Abu Dhabi should not miss.”

Mr Tharoor also met with Mr Mohammed Abdullah Al Gargawi minister of State for cabinet affairs for a political dialogue and will be meeting with Shaikh Nahyan bin Mubarak Al Nahyan minister of higher education and scientific research to discuss the translation of Indian books to the Arabic language.

(Sourced from Khaleej Times)