First Anniversary of India-UAE CEPA

• 03 May 2023

On May 1st, 2023, India and the UAE celebrated the first anniversary of the implementation of their Comprehensive Economic Partnership Agreement (CEPA).

• India-UAE CEPA was signed during a virtual summit between the two countries.
• It has been in force since May 1st, 2022.
• It aims to boost bilateral trade between these countries by creating new opportunities for businesses on both sides.

Benefits

• Significant Impact: Over the past 11 months, the CEPA has made a significant impact on India's bilateral trade with the UAE, especially in terms of India's exports to the UAE.
• Vital Growth Engine: The CEPA has become a vital growth engine for bilateral trade between the two countries.
• Boost to Economic Ties: The agreement has boosted economic ties and created new opportunities for businesses on both sides.
• India's exports to the UAE have registered a multiyear high.
• Considerable Surge in Exports: Sectors that have experienced a considerable surge in exports include mineral fuels, electrical machinery (particularly telephone equipment), gems & jewellery, automobiles (transport vehicles segment), essential oils/perfumes/cosmetics (beauty/skin care products), other machinery, cereals (rice), coffee/tea/spices, other agri products, and chemical products.