Indian exports to GCC grow by 44% to $43.9bln in FY 2021-22

Indian exports to GCC grow by 44% to $43.9bln in FY 2021-22

Indian exports to GCC grew by 44% in FY2021-22 to $43.9 billion compared to last fiscal’s $27.8 billion with the UAE leading the trade with 68% growth, valued at $28 billion against $16.7 billion in 2021.

This is according to the Federation of Indian Export Organisations (FIEO), the apex body of the country’s Export Promotion Councils.

In a statement at the niche expo, Super Sourcing Dubai (SSD), co-located with Propaper Dubai 2022 taking place at Festival Arena, Dubai Festival City from September 20 to 22, top FIEO officials said paper and allied products exports to the GCC touched $638 million in 2021 with the UAE taking a major share in the trade at $386 million.

Increasing exports

“Our export performance in the GCC in FY 2021-22 has been marvellous. Apart from the UAE, our exports to Saudi Arabia grew by 49%, Oman by 33%, Qatar by 43%, Kuwait by 17% and exports to Bahrain increased by 70%,” said Dr Ajay Sahai, Director-General and CEO of FIEO.

Regarding the paper industry, India has a 16% market share in GCC and the target is to corner a 25% market share by 2027 with the signing of Comprehensive Economic Partnership Agreement (CEPA) with other Gulf countries. India and