Indian exporters seek more business from Gulf region

Indian exporters are keen to further expand their trade with the UAE as part of a plan to treble the volume of Indian exports to become the largest trading partner. Opening a Buyers Sellers Meeting organized jointly by the Federation of Indian Export Association (FIEO), the Indian Embassy and Consulate and the India Trade and Exhibition Center (ITEC), the Indian Ambassador to the UAE, TP Seetharam said that India would intensify its export promotion, especially of food and agricultural products to the UAE, and will tap further potential from the Gulf region through Dubai, which is a hub for many Indian traders and export houses. The GCC countries are projected to spend $106 billion for food and agricultural products in the next five years.

Officials of FIEO, the apex body of all export promotion bodies in India, said both India and UAE have always been dynamic partners in trade and economic relationship, and the bilateral trade has grown tremendously from $43.46 billion in 2009-10 to $60 billion in 2013-14. UNCTAD (United Nations Committee on Trade and Development) has selected both the countries in a list of 10 most promising investor economies for Foreign Direct Investment in 2012-14. The Indian companies participating in India Expo 2014 are looking for greater interaction with UAE companies and customers as well as to look for opportunities in both inward and outward investments.

 Marking a new economic engagement between companies and traders in the UAE and India, companies representing the agricultural commodities, building and construction, processed foods, packaging and printing, footwear, textiles jute and jute products are displayed in the India Expo 2014 at the Radisson Blue Hotel Dubai. With regional offices in New Delhi, Kolkata, Mumbai, Chennai and chapter offices located in smaller cities across India, the organization boats of a membership of 16,500 companies from all over the country. Even though only 48 companies are present in the first India Expo 2014, the number of Indian companies and exporters participating in the future events will go up.

Speaking to Emirates 24|7, Walter D’Souza, Regional Chairman (Southern Region), FIEO said India’s ambition is to increase the volume of exports to $750 billion from the $330 billion level last year, and a number of programmes are chartered out for achieving this ambitious target. The trade target of the new government is to achieve 5 per cent of global export volume by 2020 and Dubai being a major report hub to the world, a warehousing facility started by FIEO in 2008 is being effectively used by the Indian traders and the facility is offered at moderate rate.

“Over the years, Indian export has been growing annually at 16 per cent per annum and even during the period of severe recession in the US, there was no de growth of exports. Now the volume and value of Indian export is going up, especially to the USA,” he said. “Dubai is the business hub for many Indian companies even though big markets like Iran and Iraq are already having problems. Export and business with Iraq has been severely affected by the ongoing law and order problem there. The Iranian export has been affected by sanctions and payment problems. Despite a respite in sanctions, Indian exporters are cautious,” he added. “I hope more and more Indian companies are coming to the UAE, especially in view of new business opportunities from Expo 2020,” added the FIEO regional Chairman.

 Named India Expo 2014, the two day buyer’s sellers meet showcasing various Indian products from nearly 48 Indian companies will attract nearly 385 companies or brands. The Indian Ambassador said quoting official figures that India accounts for about 18 per cent of food import to the UAE and India is likely to become the world’s largest growing exporter and UAE’s top export and import destination by 2030. He added that India has the potential to become one of the largest exporter of goods by value, and import growth for the UAE will be fastest for goods originating from China, India, Turkey and Vietnam.

Ms Surpiya Kumaria, Director General, ITEC and Dr Sunny Kurian, Chairman Sunny Healthcare Group and Vice Chairman of Indian Business and Professional Council, Dr Ram Buxani, Chairman ITL Cosmos group were among the Indian business representatives who participated in the event. UAE based business groups like Al Maya Group, Al Rostamani Group, Al Danube Group, Emke Group, Jaleel Traders, are among the major brands and companies participating in the Buyers Sellers Meet. Surpriya said the GCC region will consumer 49.1 million tonnes of food per year by the end of 2017 and due to population growth, increasing income percapita, booming tourism etc will increase demand for Indian products in the UAE/Gulf region.

Ruma Ghosh, from the Ilubela Enterprise said she is attending India Expo 2014 to test the market for copper, imitation and other jewllery and jute products manufactured in the company’s factory in West Bengal, where 200 people are working. “Copper ornaments are popular all over the world, especially in Greece, Turkey and the Arab world. We hope to find wholesale suppliers for not only our ornaments, but the jute products, which are in great demand after the use of paper bags and plastic bags are banned in many countries. We are targeting big supermarket chains and malls who can use jute bags, which are ecofriendly.” “Most of our products are sold outside the state of West Bengal, and in foreign countries and from Dubai, we hope to get more customers.”

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