Monday, 23rd February 2004 (4334 views)

An Indian industry conference to be held in April, aiming to promote joint trade ties between India and Sharjah, could help to boost gold imports.

At present, Indian exports to the United Arab Emirates (UAE) only account for six per cent of New Delhi's global imports.

Organised by both Sharjah Chamber of Commerce and the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the conference and exhibition will look at key areas such as imports, food processing, exports, tourism and outsourcing.

One of the main imports for the country is gold, along with precious and semi-precious stones, machineries and pulp and waste paper, according to the Indo-Asian News Service.

Export items from India include accessories, gems and jewellery, marine products, machinery, tea and fabrics.

Indian exports to the UAE are already increasing with figures reaching $3 billion now, compared with just over $2 billion in 1999-2000.

Commenting on the import and export figures, M.K. Sanghi, president of ASSOCHAM said: “The UAE is India's top most trading partner in the entire West Asia and North Africa region and represents 70 per cent of India's exports to Gulf Cooperation Council countries. The trend is encouraging and we hope to see bilateral trade cross $5 billion.”

'India: Knowledge Millennium Economy' will be held in the first half of April.

 

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