$100bln untapped trade across India-MENAT corridor: HSBC

$100bln untapped trade across India-MENAT corridor: HSBC

- Total trade across India-MENAT corridor to reach US$ 190 billion by 2030

- Tier 1 cities are key drivers of India’s economic growth

Dubai- UAE: Investors and corporates in India and across the Middle East, North Africa and Türkiye (MENAT) are set for a decade of accelerated opportunity, according to a new report by HSBC. India-MENAT Corridor Outlook: Harnessing Natural Synergies considers the current state of trade and investment and the key growth opportunities between India and five countries in MENAT; Egypt, Qatar, Saudi Arabia, Türkiye and the UAE.

Patricia Gomes, Regional Head of Commercial Banking, Middle East North Africa and Türkiye (MENAT), HSBC Bank Middle East, said: “Buoyed by strong mutual interests, solid economic fundamentals and enduring historical ties, corporates and investors are looking at an extensive set of opportunities in both directions.”

Indian corporates succeeding in the Middle East

The Middle East’s ambitious transformation plans, and the region’s youthful demographics – more than half of whom are under 30 years age – is attracting Indian investment, at pace. Data from the International Trade Centre (ITC) and HSBC analysis show an estimated US$61 billion export opportunity for India to the key MENAT markets, with top destinations including the UAE, Saudi Arabia and Türkiye.