NEW DELHI: Exporters body FIEO said it has planned a series of activities in the Gulf Cooperation Council (GCC) markets to push India’s exports. The GCC was established in May 1981. Its members are Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the UAE.
Indian exports to the GCC grew by 44 per cent in 2021-22 to USD 43.9 billion compared to USD 27.8 billion in 2020-21, according to FIEO.
“Our export performance in the GCC in 2021-22 has been marvellous. Apart from the UAE, our exports to Saudi Arabia grew by 49 per cent, Oman by 33 per cent, Qatar by 43 per cent, Kuwait by 17 per cent and exports to Bahrain increased by 70 per cent,” said Ajay Sahai, Director-General of FIEO.
In the current financial year, FIEO has planned various activities — including exhibitions, B2B delegations, interactive sessions and capacity-building programmes — to increase India’s export to the region, FIEO President A Sakthivel said.
He said FIEO members have participated in exhibitions and trade activities in Qatar, Egypt, Jordan, Oman, UAE and Saudi Arabia and there are even more activities lined up in Bahrain, Kuwait, Iraq, Oman and the UAE.
Sahai said that huge business opportunities are there for Indian industry in the UAE post implementation of a trade pact between the two countries.
India and the UAE signed a comprehensive economic partnership agreement in February this year, and it came into force on May 1.
The export prospects will further scale up since zero-duty access for Indian products to the UAE is expected to expand over 5-10 years to 97 per cent of UAE tariff lines or 99 per cent of Indian exports by value, Sahai said.
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