India-Gulf trade to Exceed $130bn.

By admin • August 24th, 2010

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Trade between India and the six- member Gulf Co-operation Council (GCC) is expected to pass $130 billion by 2013-14, according to industry lobby Associated Chambers of Commerce and Industry of India (Assocham).

Trade between the two as has been growing as a result of improved economic and diplomatic ties. Currently trade between India and the six-member Gulf Co-operation Council stands at an estimated $100.The potential to increase trade lies in agriculture, fisheries, quarrying and mining. The Financial sector, IT and IT enabled services are other areas which have been recommended for joint collaboration by Assocham.

The report also suggest that joint exploration for oil and gas should be the next step forward as Indian companies need to constructively participate in GCC’s special economic zones, where numerous trade activities can be strengthened. In addition to oil and gas the report also suggests building a more strategic relationship with the GCC so surplus funds available within the region can be focused towards Indian infrastructure development projects.

International Government Affairs & Corporate Relations Consultants for Emerging Markets

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