India and the United Arab Emirates (UAE) are intensifying their economic relationships as they review key elements of the Comprehensive Economic Partnership Agreement (CEPA). This comes in the wake of bilateral trade skyrocketing to over $100 billion in 2024-25, an impressive 19.6% rise compared to the previous year.
In a recent Joint Committee meeting, the nations explored vital topics such as market access, data collaboration, gold import quotas, anti-dumping strategies, and trade in services. India introduced a new transparent Gold TRQ (Tariff Rate Quota) system through competitive bidding that aims to foster fair distribution and efficiency in trade.
Additionally, discussions touched on enhancing regulatory cooperation in pharmaceuticals, tackling challenges concerning Certificates of Origin, and speeding up a memorandum on Food Safety and Technical Requirements between India’s APEDA and the UAE Ministry of Climate Change and Environment. Such initiatives are projected to streamline trade operations and ensure adherence to global standards.
Both countries reasserted their desire to heighten non-oil and non-precious metal trade, with a goal of reaching $100 billion by 2030. Analysts view these discussions as pivotal for diversifying economic interactions, minimizing trade barriers, and promoting investment in sectors beyond oil and commodities.
With CEPA as their guiding framework, India and the UAE are positioned to capitalize on each other’s strengths, ranging from India's robust manufacturing and service industries to the UAE’s role as a crucial trade hub within the Gulf.
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