Export Opportunity in UAE

India and the UAE have been trading partners for several decades. However, a significant shift in the economic relations between the two nations happened post-1990s. India exported several minerals, gems, jewellery, machinery, equipment, and chemicals to UAE and is the third-largest crude petroleum importer.

MAJOR EXPORTED ITEMS FROM INDIA TO UAE WITH AMOUNT & QUANTITY
India exported 7,704 commodities to UAE in FY23.
India’s export to UAE stood at US$ 31.60 billion during FY23.
Major exported items from India to UAE include petroleum products (US$ 8.05 billion), gold and other precious metal jewellery (US$ 3.22 billion), telecom instruments (US$ 2.70 billion), pearl, precious and semi-precious stones (US$ 2.46 billion), iron and steel (US$ 1.05 billion), other commodities (US$ 0.72 billion), etc. during 2022-23.
India’s export to UAE stood at US$ 20.79 billion during April-November 2023.
Major exported items from India to UAE include gems and jewellery (US$ 4.82 billion) followed by petroleum products (US$ 3.95 billion), engineering goods (US$ 3.423 billion), electronic goods (US$ 2.15 billion) and others (US$ 1.48 billion), etc. during April-November 2023.

RECENT TRENDS & DEVELOPMENTS
In 2022, bilateral trade between India and Saudi Arabia surged to US$ 42.86 billion, positioning Riyadh as Delhi’s fourth-largest trade partner and Delhi as Riyadh’s second-largest trade partner. Saudi Arabia’s Public Investment Fund (PIF) and Aramco’s mounting interest in India are part of a broader strategic plan to transform Aramco from an oil firm into a global industrial conglomerate and make PIF the largest sovereign wealth fund in the world.