The value of non-oil trade between Dubai and India reached Dhs48bn in the first half of the year, according to Dubai Customs.
Trade with India accounted for 7 per cent of Dubai’s total non-oil foreign trade during the period, official news agency WAM reported. Overall, the volume of Dubai’s non-oil foreign trade amounted to Dhs647bn between January to June this year.
Dubai’s imports from India stood at Dhs29bn, exports were valued at Dhs6bn, and re-exports touched Dhs13bn during the first six months.
Ahmed Abdul Salam Kazim, senior manager, Strategy and Corporate Excellence at Dubai Customs, said that that they are keen to support Dubai’s foreign trade with India.
India is one of the UAE’s largest trading partners (after China and the United States) with total trade volumes between the two countries reaching over $63bn in 2014 (the latest available figures).
Following the visit of Indian Prime Minister Narendra Modi to the UAE last year, the two countries have set a further target of boosting bilateral trade by 60 per cent in the next five years.