The Federation of Indian Exporters Organisation (FIEO) has said that The India Expo 2014 is expected to boost bilateral trade between India and United Arab Emirates by over $20 billion and will open new opportunities in both trade and investment. The two day event is scheduled on October 15-16, 2014.
Walter D’Souza, chairman of FIEO and India Trade Centre, UAE, under the ministry of commerce, has been nominated to lead the Indian delegation of over 100 exporters from all over India to the India Expo: Trade Exhibition and International Buyer-Seller Meet (BSM) in Dubai.
According to Walter D’Souza, The United Arab Emirates is emerging as an important destination for Indian merchandise exports and is registering the highest growth in merchandise exports over the past few years. He also added that Dubai is emerging as the most potential destination for re-exports, acting as a gateway to several regions including Africa, West Asia and Europe and collectively represents $84 billion business.
The bilateral trade between India and the UAE has grown from $43.46 billion in 2009-10 to over $60 billion in 2013-14. India has thus emerged as UAE’s top trading partner in 2013, representing 10 per cent share of the total foreign trade of the emirate.
Being organised for the first time, the trade exhibition will focus on sectors such as agri-commodities, spices, processed food, wellness and beauty products, building and construction material, non-leather footwear, printing and packaging, readymade garments, textiles, handloom and handicrafts, jute products, animal feed and IT solutions are covered in the meet.
The event will be attended by Anurag Bhushan, the Consul General of India to the UAE.