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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.

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