Bilateral Trade between India and the Gulf Cooperation Council grew from US$ 87.35 billion in FY 2020-21 to US$ 154.66 billion in FY 2021-22, registering an increase of 77.06% 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%.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Lok Sabha.
Details of India’s exports to the GCC during the last five financial years is as follows:
|India’s Exports to GCC|
|Values in USD Billion|