India eyes expanding construction sector in Jordan to boost exports

Massive infrastructure expansion projects are underway in Jordan, and the construction sector is forecast to grow at over 20% per annum in the next five years

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Jordon - The Dollar Business Amman is the capital and most populous city of Jordan

  The Arab kingdom of Jordan has caught the fancy of Indian exporters after exports from India to the West Asian country soared to $554 million in April –July 2014, which is up about 137% from $234 million recorded in the corresponding period last year. While India’s Look East policy has garnered much attention in the recent months, thanks to the several visits of dignitaries to East Asian countries, exporters are wasting no time in boarding the plane to West Asia where much action is promised as a part of reconstruction efforts due to the Syrian war. The Jordanian government’s immediate focus is energy. Recently, Mohammad Hamed, Energy Minister of Jordan, announced that wind and solar energy projects with a total capacity of 1,800 MW will be completed by 2018. Indications are that the country is on the verge of a major transformation in infrastructure as well. Earlier this year, the World Bank pledged support to rebuilding the countries in West Asia and major port, road and infrastructure projects are planned to help improve transport and trade in countries the region which includes Jordan. M. Rafeeque Ahmed, President, Federation of Indian Exporters Organisation (FIEO), says numerous infrastructure and industrial development projects are currently underway in Jordan, and both residential (75%) and commercial (25%) markets in the country are expected to grow at over 20% in the next five years due to growing population, migration, and businesses.

India-Jordan-TheDollarbusiness Source - Ministry of Commerce, India

“Expansion and upgradation of infrastructure across the Kingdom such as mega-real estate projects, transport, municipality development work, and Red Sea to Dead Sea Canal link, provide great opportunity in this untapped market for Indian exporters,” the FIEO chief added.

A business delegation led by FIEO is expected to visit Jordan this month to explore opportunities in exports of electrical and construction machinery, sanitary wares, tiles, marble stone, granite, scaffolding, spa products, electrical gears and switches, and furnishings.

India’s exports to Jordan stood at $1.59 billion in FY2013-14, up almost 60% from the previous year. India is also the third largest destination for Jordanian goods, and imported goods worth $610 million in FY2013-14.

This article was published on September 18, 2014.

The Dollar Business Bureau - Sep 18, 2014 12:00 IST
 
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