INTERNATIONAL DESK: India’s exports to the UAE are expected to reach USD 50 billion by 2026-27 from USD 31.3 billion at present on the back of the free trade agreement between the countries, a top government official said on Monday.
Commerce Secretary Sunil Barthwal said that trade between India and the UAE has grown significantly after the implementation of the trade agreement on May 1 last year.
“We are hoping that we would be able to reach USD 50 billion exports by 2026-27,” Barthwal told reporters.
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which was signed between the two nations on 18 February 2022, officially came into force on May 1 last year.
India’s exports to the UAE in 2022-23 rose by 11.8 per cent to USD 31.3 billion, while imports grew by 18.8 per cent to USD 53.2 billion in the last fiscal.
P Aqeel Ahmed, former chairman of the Council for Leather Exports said that the trade agreement is the “most effective which we have seen in recent times”. (ET)
Own the headlines. Follow now- Zoom Bangla Google News, Twitter(X), Facebook, Telegram and Subscribe to Our Youtube Channel
