Mumbai (Maharashtra) [India], Marking a milestone in the enduring partnership between the United Arab Emirates and India, the Embassy of the UAE celebrated the second anniversary of the Comprehensive Economic Partnership Agreement (CEPA), which facilitated economic growth and cooperation. Progress has been achieved in promoting. This has been said in the statement issued by the embassy. The event was attended by various eminent dignitaries of Mumbai
According to India-UAE CEPA, Indian exports of gems and jewelery to the UAE grew by 6 per cent, while Indian drugs and pharmaceuticals exports grew by 39 per cent, and Indian fruits and vegetables exports to the UAE grew by 39 per cent. An increase of 35 percent was observed. For the UAE Embassy, the UAE-India CEPA was implemented on 1 May 2022 and offers multiple trade benefits, including the elimination and reduction of tariffs, an open business environment and enhanced market access for service providers in various sectors. Is included. It also addresses technical barriers and provides access to government procurement opportunities,
Speaking on the occasion, UAE Ambassador to India Abdulnasser Alshali said, “The UAE-India CEPA is a resounding success story strengthening our countries’ long-standing economic ties and ushering in a new era of prosperity. Has emerged as." Over the past two years, we have seen significant growth in bilateral trade, which is testament to the immense potential that exists when your complementary strengths are effectively harnessed.CEPA has not only opened up new avenues for businesses to benefit from bilateral partnerships but also further promoted it. The integration of our economies is paving the way for increased investment flows and cooperation in diverse sectors.
The press said, "CEPA has promoted progress in trade, with bilateral exchanges increasing from US$72.9 billion (April 21-March 2022) to US$84.5 billion (April 22-March 2023), a year-on-year increase of Registers a year-on-year growth of 16 percent." The release said key Indian export sectors have benefited significantly since the implementation of CEPA, with Indian gems and jewelery exports to the UAE increasing by approximately 64 per cent in just two years.
While other important Indian export sectors, such as drugs and pharmaceuticals and fruit and vegetable products have also grown by about 39 per cent and 35 per cent respectively, beyond direct trade, CEPA has facilitated several investment benefits and induced a sense of Have done.The press release noted the important role of CEPA and said, "CEPA is vital to, as well as vital to, the development of many economically transformative projects such as Bharat Mart in Dubai." Investment by major UA institutions in the Indian economy. Abu Dhabi Investment Fund's commitment to set up a US$5 billion collaboration with Gujarat's GIFT City, Mubadala's acquisition of eight per cent stake in Manipal Health and Lulu Group's strong expansion plans in India. The retail market strongly highlights the mutually beneficial effects of CEPA. The establishment of the UAE-India CEPA Council earlier this year underlines the commitment of both countries to strengthen their economic partnership.Supported by the UAE and Indian governments, the CEPA Council works to enhance investment and trade relations, further strengthening the dynamic and resilient economy created by the implementation of CEPA. Looking ahead, partnerships across key industries such as start-ups, women entrepreneurs, micro, small and medium-sized enterprises (MSMEs) and services sectors will continue to drive the UAE-India growth story. The success of the UAE-India CEPA reflects the strength of the strong alliance and economic integration between the two countries. Marking the two-year milestone of CEPA, the UAE reaffirmed its commitment to deepening the partnership with India.
According to India-UAE CEPA, Indian exports of gems and jewelery to the UAE grew by 6 per cent, while Indian drugs and pharmaceuticals exports grew by 39 per cent, and Indian fruits and vegetables exports to the UAE grew by 39 per cent. An increase of 35 percent was observed. For the UAE Embassy, the UAE-India CEPA was implemented on 1 May 2022 and offers multiple trade benefits, including the elimination and reduction of tariffs, an open business environment and enhanced market access for service providers in various sectors. Is included. It also addresses technical barriers and provides access to government procurement opportunities,
Speaking on the occasion, UAE Ambassador to India Abdulnasser Alshali said, “The UAE-India CEPA is a resounding success story strengthening our countries’ long-standing economic ties and ushering in a new era of prosperity. Has emerged as." Over the past two years, we have seen significant growth in bilateral trade, which is testament to the immense potential that exists when your complementary strengths are effectively harnessed.CEPA has not only opened up new avenues for businesses to benefit from bilateral partnerships but also further promoted it. The integration of our economies is paving the way for increased investment flows and cooperation in diverse sectors.
The press said, "CEPA has promoted progress in trade, with bilateral exchanges increasing from US$72.9 billion (April 21-March 2022) to US$84.5 billion (April 22-March 2023), a year-on-year increase of Registers a year-on-year growth of 16 percent." The release said key Indian export sectors have benefited significantly since the implementation of CEPA, with Indian gems and jewelery exports to the UAE increasing by approximately 64 per cent in just two years.
While other important Indian export sectors, such as drugs and pharmaceuticals and fruit and vegetable products have also grown by about 39 per cent and 35 per cent respectively, beyond direct trade, CEPA has facilitated several investment benefits and induced a sense of Have done.The press release noted the important role of CEPA and said, "CEPA is vital to, as well as vital to, the development of many economically transformative projects such as Bharat Mart in Dubai." Investment by major UA institutions in the Indian economy. Abu Dhabi Investment Fund's commitment to set up a US$5 billion collaboration with Gujarat's GIFT City, Mubadala's acquisition of eight per cent stake in Manipal Health and Lulu Group's strong expansion plans in India. The retail market strongly highlights the mutually beneficial effects of CEPA. The establishment of the UAE-India CEPA Council earlier this year underlines the commitment of both countries to strengthen their economic partnership.Supported by the UAE and Indian governments, the CEPA Council works to enhance investment and trade relations, further strengthening the dynamic and resilient economy created by the implementation of CEPA. Looking ahead, partnerships across key industries such as start-ups, women entrepreneurs, micro, small and medium-sized enterprises (MSMEs) and services sectors will continue to drive the UAE-India growth story. The success of the UAE-India CEPA reflects the strength of the strong alliance and economic integration between the two countries. Marking the two-year milestone of CEPA, the UAE reaffirmed its commitment to deepening the partnership with India.
