South Asian Business news and information

For the last 3-4 days, I have talked about the growing trade ties between and GCC countries. Bilateral trade between and UAE has crossed $15 billion and both the countries are eager to increase it. Indian Commerce and Industry Minister Kamal Nath discussed with UAE Minister of Economy Sheikh Lubna bint Khalid Al Qasimi about increasing bilateral business ties. UAE is one of the largest trading partners of and the largest in Middle East . Except oil, imports gold, precious stones and semiprecious stones from UAE.   

 Nearly half of the foreign workers in UAE are from and thus Indian workers play a vital role in UAE economy. The remittance sent by these workers to their home is important for the Indian economy too. 

 Dubai is becoming the busiest trade hub in the Middle East . Geographical proximity of will attract many international companies to select as base to cover the Middle East market. Yesterday, I mentioned about Samsung's export of "Made in " mobile phones to Dubai . More companies are surely to follow Samsung's example in the coming days.