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FINANCIAL NEWS
GCC-India trade up 24% in 2012
13 May 2013
(MENAFN) India’s former ambassador in the Gulf region, Talmiz Ahmad, stated that mutual trade between his country and the GCC jumped by 24 percent in 2011-12 to USD145 billion from USD117 billion in 2010-11, reported Emirates 24/7.
Ahmed, who had been India’s ambassador to Saudi Arabia, Oman and the UAE between 2000 and 2010, said that India’s exports to the GCC reached USD45 billion in the year, whereas its imports from the 6-country bloc stood at USD100 billion.
Meanwhile, of the GCC countries, the UAE ranked as India’s main trade partner, with trade between the two states standing at USD72 billion.
He added that of the amount, India’s exports and imports reached around USD36 billion.
It is worth noting that UAE investment in India is nearly USD8 billion, with FDI representing USD2.3 billion.
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