Madhya Pradesh News Tribune
Buisness

By 2026–2027, India's exports to the UAE might total $50 billion

Due to the two countries' free trade agreement, India's exports to the UAE are predicted to increase to $50 billion by 2026–2027 from their current $31.3 billion level, a top government official stated on Monday.

Trade between India and the UAE has increased dramatically since the trade agreement's implementation on May 1 of last year, according to Commerce Secretary Sunil Barthwal.

“We are hoping that we would be able to reach $50 billion in exports by 2026-27,” Barthwal told reporters.

The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, which was signed on February 18, 2022, became effective on May 1 of that year.

In 2022–2023, India's exports to the UAE increased by 11.8% to $31.3 billion, while its imports increased by 18.8% to $53.2 billion.

The trade deal, according to P Aqeel Ahmed, a former head of the Council for Leather Exports, is the “most effective which we have seen in recent times.”

Related posts

Indian Steel Industry saved foreign exchange of Rs 34,800 crore for the country, Surpass Japan in terms of production

Closing Bell: Positive Finish to the Day for Markets; Sensex at 69,928.53 and Nifty at 20,994.50

Profit increases by 5% at Sun Pharma in Q2 due to robust sales of a generic cancer medication

To comply with Sebi’s minimum public holding requirements, Bank of India intends to sell shares

Maruti Suzuki’s Q2 earnings soars to Rs 3,717 crore, up over 80%

Report: Meta may soon release its own AI model to compete with OpenAI’s GPT-4