India's IT industry promotes trade with UAE companies

India's Ambassador to UAE Navdeep Singh Suri visited India pavilion at the 37th edition of the Gitex Technology Week.

He was impressed with the latest innovations showcased at Gitex, informed Kamal Vachani, regional director of Electronics and Computer Software Export Promotion Council (ESC) for the Middle East.  

Prasad Garapati, chairman of ESC, said: "We want to see much more business between India and the UAE. IT companies can play a key role in enhancing the trade volume between the two countries. Our IT expertise, products and solutions are known to the world, therefore, we can compete with anyone and win the business."

India is one of the top trading partners of the UAE, and there is enormous potential to enhance trade relations between both the countries further, informed D.K. Sareen, executive director, ESC. "More than 50 IT companies are showcasing their state-of-the-art products and cutting-edge solutions at the Gitex," said Sareen.

India's total export of electronics hardware during 2016-17 is estimated to be $5.685 billion, and that of computer software and services is estimated to be $111 billion. It is estimated that electronics goods export to Middle Eastern countries during 2016-17 is valued at $911 million.

The UAE is the top destination for India's electronics export in the Middle East. Export of software and related services to the Middle East has reached a level of $2043 million estimated in 2016-17.

According to Government of India figures, in FY 2015-16, trade between India and the UAE crossed $49 billion, with Indian exports worth $30 billion to the UAE and $19 billion worth of UAE's exports to India, thus making the UAE India's one of the top trading partner.

Kamal Vachani thanked the ambassador for visiting the India Pavilion at the Gitex Technology Week and informed him that ESC has been facilitating Indian participation at the Gitex to take advantage of the booming IT market in the Gulf and the Middle East region.

Source: Khaleej Times