Bilateral Trade between India and the GCC Stood at US$ 111.71 billion for the period April-October 2022, an increase of 40.53% from US$ 79.49 billion during same period in FY 2021-22

· Bilateral Trade between India and the GCC 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%

Bilateral Trade between India and the GCC 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. 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. This is an increase of 40.53% on a year-on-year basis. During the period FY 2017-18 to FY 2021-22, bilateral trade between India and the GCC has grown by 10.57% on a compounded annual growth rate basis.

This information has been provided by Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel said in reply to a parliamentary question on 21 December 2022.