The volume of trade exchange between the UAE and India during the first ten months of this year amounted to about $64 billion.
Indian Customs pointed out that the UAE ranked third among India’s largest trading partners.
The United States came in the lead among India’s trading partners with about 99.9 billion dollars, while China took the second place with 95.8 billion dollars.
Russia ranked fourth among India’s largest trading partners with 54.7 billion dollars, and Saudi Arabia came in fifth place with 37.3 billion dollars.
The volume of non-oil trade exchange between the UAE and India during 2020-2022 increased by 84 percent from AED 102.5 billion in 2020 to AED 188.8 billion in 2022.
The UAE plans to invest USD 50 billion in India, its second largest trading partner.
Foreign direct investment from the UAE to India more than tripled during the last fiscal year to reach 3.35 billion dollars from 1.03 billion dollars in the period from 2021 to 2022.
The UAE became the fourth largest investor in India during 2022-2023 after being the seventh in the fiscal year 2021-2022.
Last July, the UAE and India signed an agreement allowing trade exchange between the two countries in the local currencies “dirham and rupee”.
