India tops in trade with Dubai

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Dubai, Jun 2 (UNI) India was the top export and re-export destination for Dubai and second largest source of imports in 2007, Consul General Venu Rajamony said.

Non-oil trade between India and Dubai for the year 2007 hit a record high of 19 billion dollars. This constitutes approximately 80 per cent of the total India-UAE trade and a 74 per cent increase over the figure of 10.9 billion dollars for the year 2006.

An analysis of statistics released by Dubai Customs, conducted by the Consulate General of India, Dubai shows that imports from India to Dubai increased by 55 per cent from the previous year to 9.9 billion dollars in 2007.

Exports from Dubai to India increased 113 per cent to 3.2 billion dollars in 2007, and re-exports from Dubai to India increased 97 per cent to 5.9 billion dollars.

The fact that re-exports from Dubai was almost double of its exports, reflects the significance of Dubai as trans-shipment point for Indian trade.

The major commodities imported from India to Dubai were precious and semi-precious stones and precious metals, cereals and copper and articles thereof.

Of the total exports of 3.2 billion dollars from Dubai to India, dominated by precious and semi-precious stones and precious metals, steel and aluminium.

Sharjah Customs figures shows that total non-oil trade between India and Sharjah in the year 2007 is estimated at 2.1 billion dollars, constituting an increase of 10.5 per cent over previous year.

India has the largest presence amongst foreign countries in terms of the companies registered with Dubai Chamber of Commerce and Industry. The number of Indian companies registered is 12,359 out of about 1,01,000 companies registered till February 2008. 6,154 Indian companies are registered with Sharjah Chamber which is 18 per cent of the total of 33,103 companies registered there.

Jebel Ali Free Zone Authority has 575, RAK Free Trade Zone has 681, Ras Al Khaimah Investment Authority has 300 and RAK Chamber of Commerce has 1,227 registered Indian companies as of May 2008. Nearly 60 per cent of the companies in the Fujairah Free Trade Zone are from India.

UNI XC SG HT1715

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