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India’s’ exports to this Gulf country may cross $31 billion

New Delhi: The exports from India to the UAE may cross $31 billion during the current fiscal year. The high demand for sectors such as gems and jewellery, machinery and auto is the main reason for this.  India had implemented a free trade agreement with the UAE in May 1 last year.

During June 2022-January 2023, India’s non-oil exports rose by 5% to $15.2 billion. It was at  $14.5 billion in the same period previous year. Imports during the period increased by 3% to $16.8 billion. Earlier in 2016-17, India’s exports to the UAE touched $31.2 billion.

Also Read: Gold imports to India touch 32-month low in January 

During June 2022-January 2023, gems and jewellery and electrical machinery exports to UAE rose by 16% and 29% to $3.8 billion and $2.6 billion respectively. During the period, automobiles shipments grew by 38% to $475 million. Other sectors which record healthy growth in exports include coffee, tea, spices, sugar, man-made staple fibres and edible vegetables.


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