With the increasing bilateral trade, India is expected to soon become UAE’s top export and import destination by 2030, FIEO’s study said.
Trade between India and UAE has grown from $43.46 billion in 2009-10 to $60 billion in 2013-14. “India has emerged as its top trading partner in 2013, representing a 10 per cent share of the total foreign trade of the Emirate,” FIEO said in a statement.
“Import growth for UAE will be fastest for goods originating from China, India, Turkey and Vietnam…India is likely to become the world’s fastest growing exporter and UAE’s top export and import destination by 2030,” it said.
Contributed By Sonia Narula