India's exports to the UAE are projected to exceed USD 50 billion by 2026-27 from USD 31.3 billion currently on the back of a free trade pact among the countries, a top government official said. 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 in 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".
