Exports to UAE to grow 15 per cent this year
Dubai, Oct 27: India's exports to the UAE are expected to grow more than 15 per cent this year.
According to IMF statistics, the UAE's real GDP grew 8.5 per cent in 2005 and it is expected to grow 11.5 per cent this year, which could mean a corresponding 17.5 per cent growth in India's exports to the UAE this year.
Studies have also shown the UAE has emerged as the second largest destination for Indian exports after the United States.
The main items of India's exports to UAE are jewellery, vegetables and fruits, spices, engineering goods, tea, meat and its preparations, rice, textiles and apparel and chemicals.
Analysis have shown that a one per cent growth in the GDP of India's leading trade partners has helped India clock more than five-fold increase in its exports to those destinations, including UAE, US and Singapore.