The ascendency of India as an economic world power

Dubai is one of the richest cities in Asia. It is perhaps the most important trading hub in the Middle East. In Dubai, thousands of Indian workers work. In fact, if I am not wrong then Indians form the largest group of people in Dubai. So, every year, a lot of money comes to India from Dubai as Indian workers send money to their families in India. Now, it seems that Dubai also earns a lot of money from India too.

Times of India reported:

A report by the Dubai Chamber of Commerce and Industry said that Dubai had increased its export diversification over the five-year period between 2002 and 2006, with Iran topping the list with a share of Dh 94.3 billion or 15.2 per cent of the total exports that reached Dh 621.4 billion.

India came in second with a share of 11 per cent or Dh 68.3 billion and the third was Saudi Arabia, which registered a 5.7 per cent share at Dh 35.4 billion.

This reflects the continuous growth of Indian economy. I think that within the next 5 years, India could become the top market for Dubai’s export.