The Trade Promotion Council of India held a webinar on “India-UAE: Trade and Investment Opportunities in Agri and Food Processing,” which is intended to explore trade opportunities between both countries.
According to the statement, the goal of the webinar was to inform Indian stakeholders on trade, investment, and collaboration prospects in the UAE, particularly in the food, beverage, food processing, and packaging technology sectors.
The Trade Promotion Council of India is supported by India’s Department of Commerce to accelerate the growth of Indian industry.
The webinar highlighted how India and the United Arab Emirates can work together to improve food security in both nations. Among the food items exported from India to the UAE are cereals, sugar, fruits, vegetables, tea, meat, and seafood, according to the reports. The event was supported by the Consulate General of India in Dubai.
As per the Trade Promotion Council of India, several experts in agriculture and food trade spoke at the webinar. These experts included Mr. Vivek Agarwal, Managing Director of Capital Ventures and Chairman of the Council’s sectoral committee on food and beverages, Mr. R Senguttuvan, Managing Director of Wimco and Chairman of the Council’s sectoral committee on food processing and packaging technology, and Mr. Sanjay Grover, Vice President of Kirloskar Pneumatic Company and Vice Chairman of the Council’s sectoral committee on food processing and packaging technology.
Recently, Dubai Customs announced that the volume of external trade with India reached $18 billion (Dhs67 billion) in the first half of 2021 alone, across gold, jewelry, diamonds, vehicles, telecoms, and petroleum oils, compared to $24 billion (Dhs89 billion) in 2020.
According to the reports, “India-UAE trade, valued at $180 million per annum in the 1970s, is today $59 billion making UAE, India’s third largest trading partner for the year 2019-20 after China and US. For UAE, India is the second largest trading partner for the year 2019 with an amount of around $41.43 billion.”