India’s imports from the UAE, a free trade agreement partner, jumped 109.57 per cent year-on-year to $6.12 billion in November, official data showed.
The South Asian country’s exports to the UAE, on the other hand, rose by 11.38 per cent to $3 billion last month, leaving a trade deficit of over $ 3 billion, according to data from India’s commerce ministry.
Cumulatively, the imports from the UAE during April-November rose by 60.84 per cent to $44.76 billion against $27.83 billion in the same period previous fiscal, while the South Asian country’s exports to the country were up by 15.25 per cent to $23.94 billion compared to $20.77 billion in April-November 2023-24, PTI reported.
The free trade agreement between India and the UAE came into effect in May 2022.
The UAE is the third-largest trading partner of India with $83.65 billion bilateral trade in 2023-24.
The major goods imported include mineral oil, chemicals, essential oils and perfumes, precious and semi-precious stones, iron and steel products, copper, nickel and aluminium goods.
The top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed.
During April-November 2024-25, the top ten export destinations of the country were the US, the UAE, the Netherlands, the UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and Australia.
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