After, India-UAE Comprehensive Economic Partnership Agreement (CEPA) which came into effect in May this year, the Indian exports to the UAE, excluding petroleum products, grew from $5.17 billion during June-August 2021 to $5.92 billion during June-August 2022, marking an increase of 14 per cent, the Commerce Ministry said on Sunday (25 September).
The ministry noted that India’s global non-petroleum exports during the same period (June-August 2022) grew by 3 per cent on an annual basis.
This implies the growth rate of India’s non-petroleum exports to the UAE is almost five times as that of India’s non-petroleum exports to the world, the ministry said.
Excluding petroleum related imports, Indian imports from the UAE during the same three-month period grew from $5.56billion (June-August 2021) to $5.61 billion (June-August 2022) or an increase of 1 per cent in percentage terms, according to the ministry.
Indian exports are likely to increase further in the coming months with increasing use of the CEPA by the exporters and with dedicated efforts from Department of Commerce, in association with Indian Mission in the UAE, through organisation of a series of trade promotion events in the UAE during the current Financial Year, the ministry said.
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