Home | Recommend Us | Contact us | Make NK your default homepage
TOP NEWS
BREAKING NEWS
HOME | ASTROLOGY | CHINESE ASTROLOGY | NUMEROLOGY | RECIPES | SELF HELP | PHOTO GALLERY | YOGA | TRAVEL | EDUCATION | PINCODES | BABY NAMES
NEWS CHANNELS
  • Kerala News
  • India News
  • World News
  • Business India
  • Sports News
  • Cricket News
  • Travel News
  • Health News
  • Technology
  • Literature News
  • Education News
  • NRI News
  • Spec. Features
Entertainment News
  • Bollywood News
  • Hollywood News
  • Malayalam Film
  • Tamil Film
  • Kannada Film
  • Telugu Film
Regional News
  • Andhra Pradesh
  • Gujarat News
  • Karnataka News
  • Maharashtra
  • Orissa News
  • Punjab News
  • Rajasthan News
  • Tamil Nadu
  • West Bengal
  • More India News
Best Of NewKerala

  • Festivals of India
  • Self Help
  • India Travel Maps
  • Temples of India
  • Kerala Info
  • Indian Dance Forms
  • Music of India
  • Bollywood Photos
  • Make Up Lessons
  • Weight Loss Tips
  • Top Destinations
  • World Travelogues

Home > News > india-news

Indian business in Gulf has declined 20 percent: FICCI

New Delhi, July 5 : Indian companies with interest in the Gulf have witnessed their business in the region decline by 20 percent, an industry lobby said here Sunday.

According to Federation of Indian Chambers of Commerce and Industry (FICCI), strict visa rules in many countries in the Middle East are obstructing easy flow of manpower for project execution.

Also, direct and indirect subsidies to domestic companies there have made it more difficult for Indian businesses to offset their losses, FICCI said in a statement.

'It’s indeed noteworthy how Indian businesses have witnessed such a steep decline in their businesses in the Arab region. But I am confident about the inherent resilience of Indian businesses to bounce back,” said FICCI secretary general Amit Mitra.

According to 80 percent of the companies covered by a FICCI survey, below to nominal understanding of regulatory framework in several Gulf economies was also affecting the growth of Indian companies in the region.

This was despite the fact that these companies rated the region very high on the scale of potential and unexplored markets.

Similarly, Arab businesses and potential investors did not have first hand information about India and its business climate.

'This has indeed affected the faster growth in trade relations between India and the economies in the Arab region,' the chamber said.

Moreover, it said, several Gulf states still lacked transparency in trade promotion policies.

Bureaucratic hurdles and red tape were two other areas of concern for Indian businesses.

The United Arab Emirates (UAE), despite being hard hit by the slowdown, followed by Oman, is the most-preferred investment destination for Indian businesses, FICCI said.

In terms of transparency in rules and regulations for setting up businesses, the UAE again remained the best for 90 percent of the respondents, the survey found.

--IANS

Post your comment

Read other india-news stories

Visit Home Page for fresh content


 

PHOTO GALLERY
  • Bollywood Photos
  • Hollywood Photos
  • Fashion Photos
  • More Headlines:
    Jackson's Moonwalk Glove Sells For USD 350,000
    Miley Cyrus' Driver Had Cardiac Arrest - Report
    Bon Jovi And Sgwen Tefani Suing Bars
    Noel Gallagher Attacker Pleads Guilty
    Berry Gordy Honoured At Motown 50th Anniversary
    Kelly Carlson's Fat Trauma
    Joe Francis Too Sick For Court Appearance
    John Travolta Thrilled With Street Honour
    Courteney Cox Puts Cougar Town On Hold
    Nicole Kidman And Kate Hudson Honour Everyday Heroes
    Jackson's Moonwalk Glove For Sale
    Sore Jordin Sparks Struggling To Enjoy New Number One
    Stars Come Out For The Deftones
    Family Issue Prompts The Cranberries To Cancel Concert
    Fight Promoters Sue DMX
    Judge Dismisses Assault Charges Against John Rich
    John Travolta'S Family Day Out To Raise Charity Cash
    Cole Slams Marriage Split Rumours
    West Wing Star To Support Lopez In Dog Lawsuit
    Second Autopsy Requested In Jewell Death
    Lindsay Lohan Slammed By Store Over Freebie Demands
    Shilpa Shetty ties the knot with Raj Kundra
    7 killed, 60 injured in Assam twin blast
    2 CRPF killed in Jharkhand mine blast
    Gavaskar, not Sachin Tendulkar, a true Maharashtrian: Sena
    Jayawardena replaces Sangakkara as No. 1 Test batsman
    Sachin Tendulkar plays for BCCI, not India: Sena
    Manmohan Singh arrives in Washington
    'Playing Paa to Big B is difficult' : Abhishek Bachchan
    'Man-woman relationship is too complicated' : Mahesh Bhatt
    '70pc of my films is reality' : Madhur Bhandarkar
    Jail came at the right time: Arya Babbar
    'I' m only concentrating on films' : Mukesh Tyagi
    'I am working on my Hindi' : Jacqueline Fernandez
    'I share same energy with Ranbir': Katrina Kaif
    'Don't call me 90-yr-old' : Manna Dey
    'Kiss is lucky for my films': Emraan Hashmi
    Manufacturing sector showing stronger signs of recovery due to stimulus: CII
    Iran's Revolutionary Guards start military manoeuvres
    New York man kills fellow commuter over train seat
      Home | Recommend Us | Contact us | Make NK your default homepage
      © 2001-2008 NEWKERALA.COM. All Rights Reserved.