The bilateral trade in goods is projected to increase from the current $60 billion to $100 billion annually within five years of the implementation of the India-UAE free trade agreement, Parliament was informed on Wednesday.
Dubai’s model of being a trading, financial services hub is something everyone is looking at, including their neighbour Abu Dhabi, says B.V.R Subrahmanyam, commerce secretary
Federation of Indian Export Organisations (FIEO) President A Sakthivel said that the pact will be beneficial to Indian exports particularly for the labour-intensive sectors.
India has agreed to concessional import duties on gold imports of up to 200 tonnes per year. India imported about 70 tonnes of gold from the UAE in 2020-21.