Search the Internet          Tips  Sites: Finance, Investment

Indian Trade Centre in Dubai closes down after 12 years

Indian Trade Centre, which had been in operation here for the past 12 years, will be closed down on August 10.

The decision comes at a time when China is making a big commercial push in the region by setting up a permanent Chinese Machinery Exhibition Centre and a China Trade Centre.

The decision by Indian Trade Promotion Organisation to pull the shutters down at Indian Trade Centre on August 10 has taken the trade circles here by surprise as trade with UAE has been on the upswing in recent years.

Indian consulate sources informed about ITPO's decision to close down ITC.

India is among UAE's top trading partners though it was overtaken by China some years ago.

Indian Trade Centre set up in Dubai in 1988 is centrally located and hence has drawn a number of visitors and also numerous trade enquires from local and regional traders. On an average, the trade centre gets about 100 enquires a month.

India's exports to the UAE recorded a 24 per cent increase in 2000-2001 over the previous year when the growth was 11 per cent over 1998-99.

The total exports in 2000-01 was $2.59 billion up from $2.08 billion the previous year and $1.87 billion in 1998-99.

Tell us what you think of this report