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UAE ranked top trading partner with India - Minister

The UAE is now India's biggest trading partner with imports and exports worth $44.5bn in 2008-2009, a top Indian official has announced.

India's Minister of State for External Affairs, Shashi Tharoor, said trade with the UAE accounted for about half of India's total trade with the region.
Trade with all the GCC nations reached $86.9bn, putting it ahead of European Union ($80.6bn) and ASEAN countries ($44.6bn), Tharoor added in comments to news agency WAM.

"The UAE is therefore well ahead of the United States and China whose trade with the sub-continent were valued at $40.6bn and $38.9bn respectively," the minister said during an official visit to Abu Dhabi on Wednesday.

A breakdown of the figures shows the UAE also on top of India's export destinations with a total of $24bn.

With $20.6bn of imports, the UAE was second on India's top imports after China ($31.3bn) but ahead of Saudi Arabia ($19.4bn).

Total remmittances to India from the UAE in 2008-2009 were between $10-12bn, around one third of the total remmittances from the GCC, Tharoor told WAM.

He said India was looking forward to "further adding impetus" to the economic ties with the UAE with a foucs on investments.

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