Bilateral Trade Between India And GCC Rise To $154.66 Bn

India’s overall (merchandise plus services) exports increased from USD 52.8 billion in June 2021 to USD 64.9 billion in June 2022

Bilateral Trade between India and the Gulf Cooperation Council grew from USD 87.35 billion in FY 2020-21 to USD154.66 billion in FY 2021-22, said Minister of State in the Ministry of Commerce and Industry, Anupriya Patel, in a written reply in the Lok Sabha. She said that the trade registered an increase of 77.06 per cent on a year-on-year basis.  Since FY 2017-18, on a compounded annual growth rate basis, bilateral trade between India and the GCC has grown by 10.57 per cent, she said. Meanwhile, India’s overall (merchandise plus services) exports increased from USD 52.8 billion in June 2021 to USD 64.9 billion in June 2022.