Dubai: Non-oil trade between India and the United Arab Emirates (UAE) rose 24% to $29.02 billion in the last fiscal, making the UAE India’s third-largest trading partner after the US and China, latest figures released by the Indian embassy in Abu Dhabi has stated.
India’s non-oil exports to the UAE in the last fiscal year went up to $15.47 billion from $13.61 billion a year earlier and its non-oil imports from the UAE during 2007-2008 were valued at $13.56 billion, higher than $9.79 billion in 2006-07 financial year.
The balance in the non-oil trade, despite dropping to $1.91 billion from $3.82 billion the previous year, is still in India’s favour although there is competition from China, the US and Japan. India’s major exports to the UAE comprise petroleum products, finished precious and semi-precious jewellery, machinery, textiles, 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.
India is making efforts to boost exports to the UAE and is planning to organise trade delegations and promotional events in the country.
The embassy is also planning to organise an exclusive Indian trade fair in Abu Dhabi in December 2009, showcasing India’s industrial products and services sector including information technology, health, education and financial services.