Bilateral trade between UAE and India hit a new high of $19 billion last year, said the Indian Business and Professional Council (IBPC).

The Dubai-based organisation said that India topped the list of trading partners both for Dubai’s imports and re-exports in the first quarter of 2008, as quoted in Gulf News.

"India-UAE ties are being further strengthened by the growing economic and trade relations between the two nations," said an official, noting that IBPC is offering a platform for greater interaction among business people of the two countries.

"There are already several joint ventures in the real estate, information technology, industrial and the mining sectors. I believe there is untapped potential in other sectors like tourism, healthcare, education and finance," he added.