India's exports to UAE shall reach USD 50 billion by 2026-27

From USD 31.3 billion at present, India’s exports to the UAE are expected to reach USD 50 billion by 2026-27 on the back of the free trade agreement between the countries, a top government official said. Trade between India and the UAE has grown significantly after the implementation of the trade agreement on May 1 last year, Commerce Secretary Sunil Barthwal said on Monday. “We are hoping that we would be able to reach USD 50 billion exports by 2026-27,” Barthwal told reporters here. The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which was signed between the two nations on 18 February 2022, officially came into force on May 1 last year. India’s exports to the UAE in 2022-23 rose by 11.8 per cent to USD 31.3 billion, while imports grew by 18.8 per cent to USD 53.2 billion in the last fiscal. P Aqeel Ahmed, former chairman of the Council for Leather Exports said that the trade agreement is the “most effective which we have seen in recent times”. (With inputs from PTI) Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.