Abu Dhabi
Dubai Exports, the export promotion agency of Dubai Economy, is looking at greater cooperation with India in the food processing sector as bilateral trade ties strengthen between the two countries.
The agency recently received a delegation from India led by Sadhvi Niranjan Jyoti, Minister of State for Food Processing, who was in the UAE as part of the preparations for the ‘World Food India 2017,’ India’s largest event for the food processing and allied sectors, to be held from November 3 to 5 this year in New Delhi.
The two sides discussed ways to cooperate in the foods sector and promote participation of UAE food companies in World Food India 2017, according to a statement from Dubai Exports on Wednesday.
It was also decided to organise a meeting between representatives of exporting companies from the food industry, including the food processing industry, in the two countries in line with the strategic objective of Dubai Exports to support local industries in leveraging trade and export opportunities and expand into markets overseas.
Ali Ebrahim, Deputy Director General of Dubai Economy, said the Organisation for Economic Co-operation and Development (OECD) estimates economic growth in India to remain at 6.7 per cent over the 2015-2019 period. “It’s a vast consumer market comprising states and territories with a diversity of tastes. Consumer spending in India is expected to reach Dh13.2 trillion in 2020, according to a report published by the Boston Consulting Group (BCG) in cooperation with the Federation of Indian Industry (FII),” he stated.
“GCC exports to India have increased by 49 per cent annually over the past decade, the highest growth among the region’s major trading partners. Imports from India have increased by 39 per cent while India accounts for 16 per cent of the total GCC exports.”
