- The release of the report from the Indian exports apex body is timely as kingdom gears up for the multi-sector expo, Super Sourcing Arabia 2023
According to Zawya article published on January 8, 2023, the overall exports from India to Bahrain, one of its key focus markets in the GCC, for the seven-month period from April to October 2022 reached $454.15 million, according to a report by the Federation of Indian Export Organisations (FIEO).
The release of the report from the Indian exports apex body is timely as kingdom gears up for the multi-sector expo, Super Sourcing Arabia 2023, which opens on January 8 in the capital Manama.
The three-day event, which will run until January 10 at Crown Plaza Bahrain, offers one-of-its-kind opportunity for retail industry and e-commerce stakeholders both in Bahrain and GCC, to engage with Indian exporters across multiple verticals, including food and non-food FMCG players, stationary products, paper products and packaging, cosmetics, healthcare, home and living, safety equipment and fashion and lifestyle products.
On the Super Sourcing Arabia 2023, Dr Ajay Sahai, the Director-General and Chief Executove of FIEO, said the prospects for Indian exports to Bahrain and GCC have been on an exponential growth curve and the expo will further help accelerate the trend benefitting the bilateral trade relations between both the countries.
Super Sourcing Arabia 2023 will help Indian exporters get connected with decision-makers in the supermarkets, hypermarkets, retail chains, buying agents and importers in the Middle East, GCC and African region, stated Dr Sahai.
He pointed out that Bahrain was one of the key focus markets for India in the GCC as the country expands its free trade agreements in the region, particularly under the Comprehensive Economic Partnership Agreement (CEPA).
Negotiations with GCC countries, including the Kingdom, is at an advanced stage, pointing to a robust growth future accelerating the pace of growth for regional trade relationships in the Gulf and the Middle East and Africa region, he added.
Organised by Dubai-based Verifair, Super Sourcing Arabia 2023 is a unique expo in its diversity of product basket.
"The expo is happening at an opportune time of post-pandemic resurgence and rise in retail spending across the markets," he added.
There have been robust indications on this front with export volumes continuing to surge. In 2021-22 fiscal Indian exports to GCC was at $43.9 billion, a 44 per cent growth,” Dr. Sahai said, adding that apart from the sharp export growth to Bahrain, other GCC countries recorded substantial growth.
According to FIEO, Indian exports to the UAE grew by 68 per cent, 49 per cent to Saudi Arabia, 33 per cent to Oman, 43 per cent to Qatar and 17 per cent to Kuwait last fiscal.
