Bilateral trade between India, GCC registers 77.06% growth to $ 154.66 billion in FY22: Centre

22 Dec 2022 , 03:04 AM

Minister of State in the Ministry of Commerce and Industry, Anupriya Patel informed on Wednesday that Bilateral Trade between India and the GCC surged from US$ 87.35 billion in FY2020-21 to US$ 154.66 billion in FY2021-22, registering a rise of 77.06% yoy.

During the current FY 2022-23, for the period April-October 2022, bilateral trade between India and the GCC stood at US$ 111.71 billion, up from US$ 79.49 billion during the same period in FY 2021-22, an increase of 40.53% yoy. 

Further, during the period FY 2017-18 to FY 2021-22, bilateral trade between India and the GCC has rose by 10.57% on a compounded annual growth rate basis, the Minister provided this information in reply to a parliamentary question on Wednesday.

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