5 December 2022

Dubai : Exporters body Fico on Monday said it has planned a series of activities in the Gulf Cooperation Council ( GCC ) markets to push Indias exports . The GCC was established in May 1981. Its members are Saudi Arabia , Bahra in , Kuwait , Oman , Qatar and the UAE .

Indian exports to the GCC grew by 44 % in 2021-22 to $ 43.9 billion compared to $ 27.8 bil lion in 2020-21 , according to Fieo . ” Our export performance in GCC in 2021-22 has been marvellous. Apart from the UAE , our exports to Saudi Arabia grew by 49 % , Oman by 33 % , Qatar by 43 % , Kuwait by 17 % and exports to Bahrain increased by 70 % , ” said Ajay Sahal, DG of Fico.

Fieo plans activities in GCC
Fieo plans activities in GCC

In the current financial year , Fieo has planned various activities including exhibi tions , B2B delegations , inter active sessions and capacity building programmes – to in crease India’s export to the region , Fieo president A Sakthivel said . Fieo members are here to participate in the Super Sourcing Dubai ( SSD ) show .

He said Fleo members have participated in exhibitions and trade activities in Qatar , Egypt , Jordan , Oman , UAE and Saudi Arabia and there are even more activities lined up in Bahrain , Kuwait , Iraq , Oman and the UAE . Sahai said that huge business opportunities are there for Indian industry in the UAE post implementation of a trade pact bet ween the two countries .

India and the UAE signed a comprehensive economic partnership agreement in February this year , and it came into force on May 1. The export prospects will further scale up since zero – duty access for Indian products to the UAE is expected to expand over 5-10 years to 97 % of UAE tariff lines or 90 % of Indian exports by value , Sabai said.

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