After implementation of a free commerce settlement, India’s exports to the UAE rose by 16.22 p.c to USD 837.14 million throughout Could-June this 12 months, sources mentioned on Friday.
Exports throughout the identical interval of the earlier 12 months stood at USD 720.31 million.
The Complete Financial Partnership Settlement (CEPA) between the 2 nations got here into drive from Could 1.
Below the pact, home exporters from numerous sectors like textiles, agriculture, dry fruits, gems and jewelry are getting duty-free entry to the UAE market.
“India’s exports to UAE which had been in destructive progress trajectory publish the outbreak of Covid-19 to April 2022 have witnessed a rebound since Could 2022, that’s, publish the signing of the settlement,” the sources mentioned.
Publish the signing of the CEPA, exports grew by 16.22 p.c to USD 837.14 million in Could-June 2022, one of many sources mentioned.
Shipments of plain gold jewelry elevated by 62 p.c and 59 per cent in Could and June to USD 135.27 million and USD 185.78 million, respectively.
Colin Shah, Chairman, GJEPC (Gems and Jewelery Export Promotion Council), mentioned that plain gold jewelry exports have been the quick beneficiary of the India-UAE CEPA.
“I urge all exporters to maximise their returns and make optimum use of the advantages out there by means of this pact,” he has mentioned.