India expects to double textile exports to Dubai

14/01/2010 - Dubai Investment News
India expects to double textile exports to Dubai

Posted by Neil King

India expects to double its textile exports to Dubai within the next two years, an industry official has said.

Ganesh Kumar Gupta, chairman of the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), told the Khaleej Times that India exports around 30 per cent of its total textile exports to Dubai, which are further re-exported to other Gulf and African countries.

"These are growing markets and we are expecting to double exports in the next two years," he added.

In order to enhance its trade relations with Dubai and other Gulf nations in the textiles sector, SRTEPC is organising a two-day high-profile business-to-business event called Source India 2010 on 28th-29th January.

Mr Gupta told the newspaper the event would seek to engage importers from the Gulf Cooperation Council, Middle Eastern countries and African continent. He added that more than 150 international buyers would be present at the event.

Dubai's strong international trading position was also demonstrated this week with the release of equities trading volume figures for NASDAQ Dubai which showed an impressive 30 per cent increase in 2009, up to 3.10 billion shares.