UAE – Mubasher: India and the UAE are expected to raise bilateral trade in goods to $100 billion over the coming five years, as they plan to conclude a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2021.
Bilateral trade between the two countries will likely increase by 70% in five years, Reuters cited a statement by trade ministers of both nations.
India intends to endorse exports through trade relationships and new pacts with several countries through approximately $60 billion of bilateral trade.
The UAE is currently India's third-largest trading partner. The Arab country is also India's second-largest export destination after the US, with exports of nearly $30 billion.
The CEPA deal is forecast to be implemented by March 2022, according to India's trade minister, Piyush Goyal.
