India-UAE trade hits $30bn in first half

Trade between India and the UAE has increased to $30 billion (Dh108bn) for the first six months of 2011.

In 2010 trade between the two countries touched $44.5 billion.

Sanjay Varma, India's Consul General in Dubai said, "The first six months alone has witnessed trade between the two countries at two thirds of what was achieved the whole of last year," he said.

According to him, clubbed with oil, the trade between the two countries could well reach $80-90 billion annually. He was speaking during the reception hosted by the Indian Business and Professional Council (IBPC) to the visiting Indian Minister for Corporate Affairs, Veerappa Moily.

Moily himself was all praise for the Indian businessmen based in the UAE and urged them to invest more in India.

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