Skip to content Skip to Search
Skip navigation

India’s UAE exports to reach new high of $32bn after trade deal

By Pramod Kumar
Unsplash
A review of the Cepa, which came into force on May 1, 2022, is expected in May

India’s exports to the UAE are likely to reach an all-time high of $32 billion by the end of the fiscal year 2022/2023, driven by the Comprehensive Economic Partnership Agreement (Cepa).

“India’s exports to the UAE are around $28.3 billion. We are hopeful to touch $32 billion exports this year,” a government official told the state-owned Press Trust of India news outlet.

The two countries plan to integrate their customs and logistics portals for real-time tracking of shipments for priority of entry in ports as part of a review of the bilateral agreement.

A review of Cepa, which came into force on May 1, 2022, is anticipated in May.

India’s exports of gems and jewellery, automobiles, coffee, tea and iron and steel all reported year-on-year growth for the period of June 2022-February 2023.

“There is an increase in the Cepa utilisation,” the unnamed official added.

India’s overall goods exports to the UAE rose 10.4 percent over the period at $23.03 billion, while imports increased 12.9 percent at $38.95 billion, the report said.

Latest articles

Freight trains on the Oman-UAE rail network will reach 120 km per hour, while passenger trains will reach 200 km per hour

Work to start on $3bn Oman-UAE rail network

Work will soon start on the $3 billion Hafeet Rail, a railway network between Oman and the UAE, local media has reported. The railway line will include two 2.5 km long tunnels and 36 bridges, Oman Daily Observer reported, citing Abdul Al Hatmi, CEO of Asyad Group. Oman Rail, part of Asyad Group, and the UAE’s Etihad […]

The power purchase agreement is isgned in the presence of Uzbek prime minister Abdulla Aripov and Saudi energy minister Prince Abdulaziz bin Salman Al Saud

Acwa Power builds Uzbekistan portfolio with $5bn deal

Saudi energy major Acwa Power has signed a power purchase agreement worth nearly $5 billion with the state-owned National Electric Grid of Uzbekistan for the five gigawatt (GW) Aral wind independent power producer (IPP) project. The wind IPP will be the largest wind farm in Central Asia and is the Saudi-listed renewable company’s 15th project in Uzbekistan, a […]

Aramco rigs in the Hasbah oil field. It uses AI for oil exploration and underwater operations

Aramco leads the pack in oil and gas AI investments

Saudi Aramco invested around $3.5 billion in research and development last year and leads in adopting artificial intelligence, as it rivals its regional peers in the adoption of new technology. The world’s largest energy company was active in more than 250 areas, such as AI, drones, robotics, electric vehicles and hydrogen technology, a GlobalData report […]

Sora Beach Residences on Al Marjan Island will span a built-up area of 1.8 million square feet

New $1bn Ras Al Khaimah project to have 140-foot arch

A new AED4 billion ($1.1 billion) residential development on Ras Al Khaimah’s man-made archipelago will house a 140-foot-high arch, its developer has said.  Sora Beach Residences on Al Marjan Island is slated to have one the “grandest atriums ever seen in the region”, Dubai-based Aark Developers said in a statement. The 18-floor high project will span […]