Correct Answer : UAE
India is set to remain the United Arab Emirates' (UAE) largest export destination by 2030, according to a new report by Standard Chartered.
* "Future of Trade : New opportunities in high-growth corridors", forecasts that the UAE's exports will reach around USD 543 billion by 2030, showcasing a robust annual growth rate of 5.5%.
* The report also highlights that trade corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate by almost four percentage points, propelling the combined trade volume in these regions to an astounding USD14.4 trillion, accounting for 44 percent of global trade by 2030.
* "India is set to remain the UAE's largest export destination by 2030, while exports to Turkiye, Vietnam and Singapore are among the fastest growing," the report said.The report attributed the UAE's strong export growth to a number of factors, including its strategic location, its well-developed infrastructure, and its business-friendly environment.
* "The UAE is a major trade hub in the region and has a strong track record of attracting foreign investment," the report said. "The country's government is also committed to promoting trade and investment, which will further support its export growth."
* The report also noted that the UAE is taking steps to diversify its economy away from oil, which will help to further boost its exports.
* "The UAE is investing in new sectors such as manufacturing, tourism, and logistics," the report said. "These investments will help to create new jobs and opportunities for the country's citizens, and will also help to boost its exports."
* The report's findings are positive for India, as it suggests that the country will continue to be the export market for the UAE. The report also highlights the importance of trade between
India and the UAE, and the potential for both countries to benefit from closer economic ties..
Source :
AIR
