Indian ingredients companies target GCC market

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Indian food companies see a major potential for continued growth in trade in the Middle East.

Figures from India's Agricultural and Processed Food Products Export Development Authority (APEDA) suggest that the GCC offers significant opportunities for Indian food exports.

Exports to the GCC are worth an estimated US $3 billion a year, according to APEDA, with agricultural and processed food exports from India to the UAE alone accounting for more than $273 million. Total annual trade between India and the GCC currently exceeds $15 billion, 15% of India's total foreign trade, the organisation also stated.

"India is launching a major drive to increase exports of agricultural and processed food products to the Gulf countries and attract investment in the sector. The six GCC countries, and the surrounding region, offer huge potential for Indian food, since the region has historically been reliant on imported products," said A S Rawat, general manager, APEDA.

According to APEDA, the Middle East is already a target market for more than three-quarters of India's main export products and Rawat added that the region is also important for achieving India's long-term strategic goals within specific food sectors.

The growing focus on Middle Eastern markets led to the country's biggest ever participation in Gulfood this year, with more than 80 Indian organisations taking part.

Major industry groups such as the Coffee Board of India and the Spice Board of India, as well as APEDA itself, participated alongside a host of specialised food companies.

"The strong participation of Indian companies at Gulfood 2008 will make an enormous contribution to the overall success of Indo-GCC business development," said Gulfood project manager Elly Habt.

Indian companies were also in the spotlight at last month's second Global Duabi Tea Forum.

"The West Asia/ North Africa region, of which Dubai is an important trading hub, is a major market for Indian teas - more than 35% of India's total tea exports are to this region," said director of tea promotion at the Tea Board of India Priya Kumar.

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