The UAE on increasing export of textiles, fisheries, leather and leather products, processed food and pharma from India both for the market here as well as the Gulf region, central Asia and Africa – while seeking to nearly double bilateral trade in non-oil and non-precious metals from the current level of over $50 billion to $100 billion over the next three years.
Besides, the two countries will jointly take up infrastructure, mining and housing projects using UAE capital and Indian expertise in other countries, commerce and industry minister Piyush Goyal said after a meeting of the high-level joint task force on investments here. He said the two sides will develop the framework.
The push for five products comes at a time when Indian exports are facing challenges in the US, the largest export destination, with products such as shrimps, leather and garments hit the hardest. “We have asked our exporters to refrain from trans-shipment of goods to the US, but if made-in-India goods go to other countries, we are happy.
UAE is a large market and a lot of countries in Central Asia and Africa, because of better connectivity, use Dubai as a base,” the minister said. He also said that Indian pharma exports to the UAE are expected to get a boost, with the Gulf nation seeking to address several issues that were flagged by companies.
News Courtesy: Times of India