Navdeep Singh Suri, Ambassador of India to the UAE stated that after the US and China, the UAE became India’s third big trading partner as bilateral trade reached $60 billion during financial year 2018-19.
While addressing a forum in Dubai, the ambassador stated that exports from India to UAE amounted to $30.2 billion while exports from the UAE to India reached $29.8 billion. According to him the numbers are ready to increase notably in coming years.
Bilateral trade between the UAE and India had grown from $52 billion in 2017 to $57 billion in late 2018. The two countries have set a trade target of $100 billion by 2020
The ambassador cited that trade is increasing convincingly but demanded for an increase in bilateral investments. Suri stated that he is bit worried about the investment side. Trade has been soaring and same things need to be seen for the investment sector also. Now is good time to take a look at India as it has moved up 65 places in ease of doing business space over the past three years. No other nations have been able to move as fast as India within that time.
Mohammed Al Muallem, CEO and managing director of DP World, UAE Region and CEO of Jafza, stated that since early 2018, DP World has been extending its presence across India through logistics investments.
Mohammed Al Muallem, CEO and managing director of DP World, UAE Region and CEO of Jafza stated that India being the UAE’s second largest trade partner, and as the region’s leading trade enabler, they are eager to maintain these excellent trade ties and develop a relationship that would allow both our nations to grow.