Summary:

According to Commerce Minister Piyush Goyal, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) has significantly increased commerce between the two countries. Since its adoption four years ago, it has greatly improved cross-sectoral economic relationships. Through better market access and trade facilitation, CEPA has opened up new prospects for Indian farmers, MSMEs, and companies. The amount of merchandise traded has exceeded Rs. 9.27 lakh crore, indicating an increase in economic activity. Additionally, services trade has increased gradually, allowing Indian businesses to thrive internationally. Important industries have profited, including engineering products, technology, gems and jewelry, and agriculture. The pact has strengthened economic ties, increased investment flows, and solidified the UAE's position as India's most important strategic trading partner.

Source: IBEF

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