Bilateral Trade Relationship Between India and UAE with Reference to 2010-2011 to 2016-2017

Abstract

India- United Arab Emirates relationship in all respects particularly related to the trade aspect is of more academic, economic and political importance in the Indian context. Majority of the Indian expatriates are residing in UAE performing several contributions in various sectors of that country in social, educational, health, business and other economic sector of United Arab Emirates. This study is construed only a pilot study of the bilateral trade relationship between these two nations. The export trade of India with UAE is on an average of 11.54% against the total export trade whereas the import trade from UAE is on an average 7.33% of the total import trade of India for the last 5 years. This trend showing a favourable economic condition with respect to the balance of trade of India. Even though, the export trade is an average of 11.54%, showing a decreasing trend from 2013-14 to 2016-2017, the same trend is applicable to the import of commodities from UAE. At the same time, total trade with UAE against the total trade of India with other world nations is on an average 9%. The trade relationship between India and UAE is deeply rooted from the ancient days and it is strengthened further with the several measures taken by both the countries. Recent developments are showing that the bilateral trade and relationship will be developing in different spheres of economic and cultural cooperations of both the countries. The trade and relationship between these countries definitely reach to the different sectors of economy like real estate, crude oil preservation, distribution, tourism, pharmaceuticals, jewelry etc.