Question

Q. Which of the following countries is the largest trading partner of India in West Asia?

• A.
  Iran
• B.
  Saudi Arabia
• C.
  UAE
• D.
  Israel

Answer 1

The correct option is C

UAE
Explanation:

Iran has been an important trade partner for India with bilateral trade in 2018-19 posting a 23.7 per cent growth to $\$17.03$ billion. Of this, mineral oil and fuel imports were key, accounting for $\$12.3$ billion.

Saudi Arabia is India's fourth-largest trade partner (after China, the USA and UAE) and a major source of energy as India imports around $18\%$ of its crude oil requirement and $30\%$ of its LPG requirement from the Kingdom. In FY 2019-20, bilateral trade was valued at the US $\$33.09$ billion.

In the financial year 2018-19, India-UAE bilateral trade grew by over $20\%$ as compared to 2017-18. The bilateral trade has already reached US $\$59.9$ billion. India's exports to the UAE grew by $7\%$ to US $\$30.13$ billion whereas UAE's exports to India surged by $37\%$ to reach US $\$29.78$ billion.

Bilateral trade between India and Israel grew from $\$200$ million in 1992 to $\$5.24$ billion (excluding defence) in the calendar year 2019 with the balance of trade being in India’s favour by more than US $\$1.9$ billion. India is Israel’s third-largest trading partner in Asia and seventh largest globally.