India-UAE CEPA creates positive impact
GJ exports grew by 33% during the June-Aug 2022 The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which came into effect on the 1st of May 2022 is already creating a significant positive impact on India-UAE trade. Indian exports to the UAE, excluding petroleum products grew from US$ 5.17 billion during June-August 2021 to US$ 5.92 billion, during June-August 2022, which denotes an increase of 14%. In the row Gem & jewellery (GJ) exports that grew by 33%. That registered exports during the June-Aug 2022 of US$ 1404.73 over the previous June-Aug 2021 of US$ 1053.33. It is pertinent to note that India’s global non-petroleum exports during the same period (Jun-Aug 2022) grew by 3% on an annual basis. This implies the growth rate of India’s non-petroleum exports to the UAE is almost 5 times as that of India’s non-petroleum exports to the world. Excluding petroleum related imports, Indian imports from the UAE during the same three-month period grew from US$ 5.56