Exports to UAE get a boost from trade deal, says commerce ministry

New Delhi: Exports of gems, jewellery, sugar confectionery, cereals, electrical machinery and other products to the UAE have registered a healthy growth after the two countries implemented a trade deal in May.

The commerce ministry said that Indian exports to the UAE, excluding petroleum products grew from USD 5.17 billion during June-August 2021 to USD 5.92 billion during June-August 2022, an increase of over 14 per cent.

However, sectors which recorded negative growth during the period include ships, boats and floating structures, apparel, pharmaceutical products, aluminium and articles, organic chemicals, carpets and other textile floor coverings, and silk.

The India-UAE Comprehensive Economic Partnership Agreement (CEPA) came into effect from May 1.

“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 organization of a series of trade promotion events in the UAE during the current financial year, the ministry said in a statement on Sunday.

It said that data for May has not been included for the purpose of the analysis as it is considered as a transitory period.

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