India And UAE Deepen Economic Ties Via CEPA As Trade Booms

2025-08-30 02:04:15

(MENAFN- KNN India) New Delhi, Aug 30 (KNN) On August 30, 2025, India's Commerce and Industry Minister Piyush Goyal welcomed Dr. Thani bin Ahmed Al Zeyoudi, UAE's new Minister of Foreign Trade, for a high-level meeting in New Delhi.

Their discussions centered on expanding trade and investment across three pivotal sectors: infrastructure, energy, and technology. Both leaders reaffirmed their joint commitment to deepen the India–UAE economic partnership and to explore fresh avenues for growth.

A spotlight of their talks was the Comprehensive Economic Partnership Agreement (CEPA), which entered into force on May 1, 2022.

Since its enactment, bilateral merchandise trade has nearly doubled, rising from USD 43.3 billion in fiscal 2020–21 to USD 83.7 billion in fiscal 2023–24. As of January 2025, this total had already reached USD 80.5 billion.

A key achievement under CEPA has been the marked rise in non-oil trade, which surged to USD 57.8 billion in 2023–24-accounting for more than half of bilateral trade.

The agreement has facilitated this shift by issuing 240,000 Certificates of Origin, enabling USD 19.87 billion in exports to enjoy preferential duty benefits.

India's non-oil exports themselves reached USD 27.4 billion in the same period, reflecting a robust average growth of 25.6% since CEPA's activation.

On the products front, smartphones emerged as a standout export, with India shipping goods worth USD 2.57 billion to the UAE during 2023–24.

Other significant categories include refined oil products, gems and jewelry, electrical machinery, boilers, generators and reactors, as well as organic and inorganic chemicals.

In summary, the India–UAE talks underscore a growing economic synergy fueled by CEPA's success. From diversified exports and technological trade to infrastructure and energy investment, both nations are poised to leverage this evolving partnership for sustained growth and opportunity.

(KNN Bureau)

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