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Path-breaking India-UAE CEPA Negotiated In Just 88 Days: DPIIT Secy
India’s exports to the UAE also recorded a growth of 12 per cent, reaching USD 31.3 billion in 2022-2023
Photo Credit : adaniports.com
Path-breaking India-UAE comprehensive economic partnership agreement (CEPA) negotiated in just 88 days, said Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).
Singh and Thani bin Ahmed Al Zeoudi, UAE Minister of State for Foreign Trade, jointly inaugurated the events to commemorate the first anniversary of the Indo-UAE CEPA.
Speaking at the event, Singh highlighted how the path-breaking India-UAE CEPA has become a significant turning point in the bilateral economic relations between the two countries.
"Since the entry into force of CEPA, bilateral trade between India and UAE has witnessed tremendous growth of 20 per cent when compared to the previous year," he said.
India’s exports to the UAE also recorded a growth of 12 per cent, reaching USD 31.3 billion in 2022-2023.
Singh held meetings with the senior leadership of Abu Dhabi Investment Authority and Mubadala, the top UAE investors in India.
Welcoming the surge in investments from the UAE to India, Singh invited both companies to explore new sectors for investing in India, especially the renewable and digital sectors.
The UAE is currently the seventh largest investor in India with an estimated investment of USD 18 billion.