Published on: February 21, 2022

INDIA-UAE COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT

INDIA-UAE COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT

Kitsuki NEWS

India – UAE signed an FTA pact recently

http://californiawithkids.com/pacific-northwest/201703300307/washington-state-spring-fair-4kuhd/ ABOUT

  • Bilateral trade pact
  • Cover over a period of time 90% of India’s exports
  • Include leather, processed agriculture and dairy products, handicrafts, gems and jewellery, furniture, pharmaceuticals, food and beverages, engineering products and nearly the entire spectrum of items produced by the Indian economy
  • Will also include the services sector
  • Expect the services sector to boom by $15 billion in the coming five years.
  • Deal has strong anti-dumping measures integrated into it which will prevent any country from dumping its products into the Indian market by using the route of the UAE
  • Document has very strong rules of origin clauses that will disallow any country to export goods to India taking advantage of relaxed tariff on the Indian side

BENEFITS

  • Marked by the flow of remittances from the oil rich Gulf country to India
  • 82% of India’s total remittances originated from seven countries that included Gulf countries like the UAE, Saudi Arabia, Oman and Kuwait