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Home -> Finance -> Full Story

India replaces China as UAE's 2nd main trade partner
Friday, July 2 2004 21:47 Hrs (IST)

Dubai: India outsmarted China in terms of exports to United Arab Emirates (UAE) mainly on the strength of higher sales of its exquisite gems and jewellery in the Gulf.

India's export to UAE grew by a whopping 47.2 per cent to touch $ 4.45 billion last fiscal and replaced China as the Arab nation's second largest trade partner, Consul General of Indian Embassy Yash Sinha said.

UAE ended up as the second largest trading partner for India after the United States with total trade of $ 6.23 billion, up by 63 per cent over the previous year.

Export of gems and jewellery exports almost doubled while exports of textiles products, including cotton and accessories, man-made yarn, fuelled India's trade with UAE.

Exports of key items like machinery, plastics and electronic goods rose substantially and a healthy growth rate was reflected across the board on all items, Sinha said.

The booming exports helped India overtake China in total trade turnover with the Arab nation for the first time in this millennium.

The burgeoning re-exports of Indian goods from UAE to other Gulf countries like Saudi Arabia and to East and North Africa also helped to propel the exports boom, Sinha said.

PTI