India, Pakistan, Iran, main targets of Dubai exports
Trade between India and Dubai has reached the $10.9 billion mark from $2.5 billion five years ago, showing a growth rate of 336 percent, the Department of Tourism and Commerce Marketing (DTCM) said in a release Saturday.
In 2005-06, total exports from India to Dubai were $6.4 billion, while imports from Dubai clocked at $4.5 billion and, according to the statement, Dubai has gained importance as a trans-shipment point and logistics hub for Indian goods.
'More than 80 percent of trade between India and the UAE is routed through Dubai,' it said.
It said the highest number of foreign investors in Dubai in the first half of 2006 came from India, with 1,152 licenses issued.
Out of 85,000 companies registered with the Dubai Chamber of Commerce and Industry, almost 11,200 companies have a partnership with Indian firms.
In the Jebel Ali Free Zone, Dubai's largest commercial hub having operations of over 5,500 companies, India has a strong presence with 600 companies.
Moreover, the 22 Indian state-run firms that are operating in the UAE have offices in Dubai.