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 today.

Bilateral trade between India and the GCC shows sustained year on year growth, signalling stronger commercial ties in recent fiscal periods. Bilateral trade between India and the Gulf Cooperation Council rose substantially in recent reporting periods, with April-October 2022 showing marked year on year growth compared with the same period in the prior fiscal year, continuation of a large increase from FY 2020-21 to FY 2021-22, and a positive five year compounded annual growth rate; these figures were disclosed in reply to a parliamentary question by the Minister of State in the Ministry of Commerce and Industry.