India’s exports to UAE soar after CEPA

India's trade with the UAE has witnessed a significant surge, reaching $83.7 billion in just two years after the implementation of the Comprehensive Economic Partnership Agreement (CEPA). This remarkable growth can be attributed to the CEPA, which aims to eliminate tariffs on over 10,000 products, including oil and gas, petrochemicals, minerals, textiles, and jewelry. The agreement has not only boosted bilateral trade but also increased investment flows between the two nations. 

Key Benefits of CEPA:

Tariff Elimination: Elimination of tariffs on over 10,000 products, making Indian exports more competitive in the UAE market.

Increased Trade: Bilateral trade has increased by 20% in the first year of CEPA implementation, with India's exports to the UAE growing by 12%.

Investment Flows: Increased investment flows between the two nations, with the UAE becoming India's fourth-largest investor.

The CEPA has opened up new opportunities for Indian businesses, particularly in the sectors of textiles, jewelry, and pharmaceuticals. As the agreement continues to be implemented, we can expect to see further growth in bilateral trade and investment between India and the UAE.