UAE looks to diversify trade with India, courts Indian cos

Indian companies can use Dubai as a gateway to export to the Gulf region and countries such as Iran, Iraq and North Africa even as the UAE looks to diversify its trade basket with India, Ahmad Sultan Alfalahi, Commercial Attache at the UAE Embassy here said today.
"Indian companies who want to grow can come to Dubai and use Dubai as a hub to grow their business. The UAE is among top 20 in the ease of doing business," Alfalahi said at the Dubai Exports conference.
"Dubai can be used as a gateway to Iran once the sanctions are lifted, it is a gateway to the Gulf, it is a gateway to Iraq, North Africa and especially the East Africa coast."

India-UAE trade, valued at USD 180 million per annum in the 1970s, today stands at around USD 60 billion, making the UAE India's third-largest trading partner for 2014-15 after China and the US.
"We are looking at diversifying our trade basket with India," Alfalahi said.
During April 2000 and May 2015, India has received USD 3.09 billion investments from the UAE, which is 1 per cent of the total FDI received by India during the period.