Surge in India-UAE Trade Amidst Successful CEPA Implementation

The trade between India and the UAE rose by over 21% to $80.51 billion in the first 10 months of the fiscal year, influenced by the Comprehensive Economic Partnership Agreement (CEPA). Non-oil trade touched $57.8 billion and is set to hit $100 billion by 2030.

India and the United Arab Emirates (UAE) have witnessed a significant surge in bilateral trade, growing 21.35% to USD 80.51 billion between April and January of the current fiscal year, as per commerce ministry data.

This increase comes on the back of a free trade agreement signed in 2022, boosting both exports and imports. Exports from India to the UAE rose 6.82% to USD 30 billion, while imports saw a 35.58% jump to USD 50.51 billion.

The Comprehensive Economic Partnership Agreement is proving effective in meeting its diversification goals, with non-oil trade accounting for USD 57.8 billion, and major exports including refined crude oil products, machinery, and smartphones.