India-Jordan trade is governed by an agreement signed in 1976. A Trade and Economic Joint Committee constituted under the Agreement promote and monitor the progress. Over the years, bilateral trade has grown rapidly despite global economic downturn. Balance of trade was in favour of Jordan during the last few years for reasons of massive imports of phosphate and potash by India. However, two-way trade in 2014 registered US $ 1.89 billion as against US $ 1.61 billion in 2013 with balance of trade continue to be in India’s favour for the second consecutive year. The two way trade figures by the end of March 2015 is US $ 346 million with India’s exports at US $ 198 million and imports at US $ 148 million. A successful cooperation in fertilizer sector between the two countries exists. A Joint venture project worth US$ 860 million between the Jordan Phosphate Mines Company (JPMC) and the Indian Farmers Fertilisers Cooperative (IFFCO) for manufacturing of Phosphoric Acid set up in Eshidiya has already in operation. The MMTC India Ltd, inked an MOU with the JPMC on cooperation in the fertilizer sector in June, 2015. India became the 4th largest trade partner of Jordan after Iraq, Saudi Arabia and China.
The quantum of bilateral trade between India and Jordan soared to US$ 1.89 billion in 2014 as compared to US$570 million in 2006. Details of trade volume are tabulated below:
[Source: Department of Statistics of Jordan]
India imports fertilizers, phosphates, phosphoric acid etc from Jordan and exports electrical machinery, cereals, frozen meat, organic and inorganic chemicals, animal fodders, engineering and automotive parts etc. Possibilities for joint ventures in the fields of leather, automobile, IT, pharmaceuticals, renewable energy[Solar] and construction sectors can be explored further. The newly constituted Investment Commission is actively pursuing to attract investors from all across the world, including Indian investments in Jordan especially in ICT, Finance/Banking Services, Renewable energy [Solar] and Bio-medical services sectors.