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Hyderabad: The Associated Chambers of Commerce and Industry of India (Assocham) said that over two lakh Indian workers, mainly those working in real estate and construction business, in the Gulf state are likely to be affected by the recent Dubai Crisis.

While releasing a paper on Indo-Gulf Business Opportunities, former President of the Assocham Anil K Agarwal said that impact of the Dubai crisis would adversely affect the Indians working in real estate and construction sector in the wake of debt problem in the industry there.


He was confident that the other Emirates states would come forward to support the Dubai crisis to bail them out, Agarwal said adding that the "the impact is only for the time being."

Agarwal said that a high-powered Assocham delegation will be visiting some of the Gulf countries including Kuwait, Saudi Arabia and United Arab Emirates in the next two months as the Gulf countries had shown interest on investments in the Special Economic Zones in India.


Agarwal said that the total FDI flow from Gulf Cooperation Council (GCC) into India was around $17 billion during the last fiscal.

The paper has projected that Indo-Gulf Trade by 2012 can reach to the extent of $100 billion with the signing of Free Trade Agreement between India and GCC, reports PTI.


During 2007-08 Indo-Gulf trade was estimated at $67 billion, Agarwal added.























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