29-06-2013, 01:57 PM
Business Environment INDIA – UAE TRADE RELATION
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Background of India
It is the Seventh largest country by area
The Second most populous country (1.2billions)
Capital :- Delhi
GDP growth Rate:- 6.5%(2011-2012)
GDP :-US $1.848 trillion
3rd largest in terms of purchasing power parity (PPP)
Service based economy (contributes 55% to GDP)
HDI :- Rank 134th/187
Introduction
Bilateral trade relations
The discovery of oil allowed the UAE to increase and diversify its trade relations with India
UAE is home to more than 1.75 million Indian, expatriates making Indians the second largest ethnic group in the Arab nation.
In 2008-09, India emerged as the largest trade partner of the UAE with bilateral trade between the two countries exceeding US$44.5 billion
During the first half of 2010, non-oil trade between India and the UAE stood at US$20.4 billion
Business Environment in UAE
U.A.E. possesses 10% of world’s crude oil reserves, which will last for more than 100 years.
U.A.E. is a free trade zones are home to more than 6400 companies with an estimated trade of around US$ 8 billion.
U.A.E. has easy access to 1.5 billion consumer markets situated in Africa, West Asia and East Europe as well as the areas around the Red Sea and the Gulf.
INDIA – UAE Bilateral relations
The Indian community is the largest expatriate community in the UAE, numbering about 1.5 million.
UAE emerging as the second largest market globally for Indian products.
India imports 4.8% of U.A.E.’s export.
U.A.E imports 10% of India export.
A large portion of India’s exports to the UAE is transshipped from Dubai to other countries
JOINT VENTURES
This joint venture with Rani International, the real estate development subsidiary of the Saudi-based Aujan Group, will consist of a 249-key luxury hotel operated by The Oberoi Group
DLF and Nakheel, signed a 50:50 joint venture for two integrated townships spread across 40000 acres in India
Defense relations
An Agreement on Joint Defense Cooperation was signed by the two sides during June 2003. There was agreement that the 'Strategic Dialogue' would be held annually.
India has been training U.A.E. defense personnel in various disciplines at its specialized institutions
At the first JDCC Meeting in April 2006, both sides agreed to support defense exhibitions in each country by deputing its platforms and personnel.
As a follow up of the meeting of the JDCC in April 2006 several steps were taken
Enhance participation in training programmes
Exchange of visits by service Chiefs
Visits of Naval Ships and Coast Guard
Cooperation in defense production industries