India IT exports to UAE touch $ 850 mn
India's IT exports to the UAE is expected to soar by 56.74 per cent to $ 850 million from $ 542 million during 2005-06.business Updated: Apr 25, 2007 14:26 IST
India's IT exports to the UAE is expected to soar by 56.74 per cent to $ 850 million from $ 542 million during 2005-06, an official of India's Electronics and Computer Software Export Promotion Council (ESC) said.
"India's IT exports continue their run of reaching the entire length and breadth of the globe, providing total solutions in a host of sectors of the economy," ESC Regional Director for UAE and the Middle East Kamal Vachani said.
He said, IT exports to other parts of the world are expected to surge to $ 35 billion this year, up 35.19 per cent, from $ 25.89 billion in 2005.
Indian exports to Europe stood at $ 6.63 billion while exports to the US were $ 15.33 billion.
Vachani said several Indian companies are setting up base in Dubai, since it is strategically located for re-export.
"With a wide array of membership, primarily comprising of exporting SMEs, the council has been laying emphasis on facilitating the interaction of India SMEs with potential buyers in the global market.
The Council's delegations to the global market in various trade fairs, expositions and buyer seller meets, have SME representation in large number," he added.
The new Indian trade policy has scrapped service tax on export business and puts emphasis on exports of farm products, handlooms, handicrafts, cottage industries and jewellery.
The proposed duty incentives for import of cold storage and refrigerated vans would encourage food stuff exports from India to the UAE, he added.
Vachani said, a liberal export policy had direct effect on foreign direct investment flows and that the two were inter-linked.