Indian Consul General Venu Rajamony told reporters here yesterday that total trade between India and Dubai from 2003 to 2007 has increased over six-fold from $3.5 billion to $19 billion.
Imports of Dubai from India rose about four-fold from $2.6 billion to $9.9 billion in last five years, while exports to India increased by whopping 39 times to $3.9 billion from $0.1 billion. Re-exports from Dubai to India increased $0.8 billion to $5.9 billion.
The major commodities imported by Dubai were precious and semi-precious stones, and precious metals valued at about $5.8 billion.
Recent Dubai Customs figures show that India has emerged as Dubai's top trade partner in the first quarter of 2008, with the country heading the list of import and export destinations from the latter.
India has a share of 13.14 per cent of the total imports from the emirate worth AED 12.6 billion (1 AED = $0.272), while 45.7 per cent of the total exports worth AED 4.7 billion during the period.
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In 2007, imports of Dubai from India were the second largest after China, and the percentage of India's share in the imports of Dubai went up to 12.2 per cent from 10.6 per cent in 2006.