India-UAE trade climbs 21.35% to $80.51 billion in April-January of FY25

According to commerce ministry figures, bilateral trade between India and the UAE increased by 21.35 percent to $80.51 billion from April to January of this fiscal year. Furthermore, as per the data, India's exports to the UAE increased by 6.82 percent to $30 billion in the first ten months of the current fiscal year, while imports increased by 35.58 percent to $50.51 billion. 

Also, as per the ministry, commerce is growing steadily since the two countries' free trade agreement (FTA) went into effect in May 2022. On Tuesday, the Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates (UAE) will mark three years since it was signed. 

"In terms of utilization of CEPA, preferential duties are concerned, since coming into force, nearly 2,40,000 certificates of origin have been issued against which total export of $19.87 billion have been made to the UAE," according to a statement from the agency.

It also stated that the agreement was successful in realizing its potential for trade basket diversification, with non-oil trade totaling $57.8 billion in 2023-24, accounting for more than half of overall trade. This is aligned with the objective of increasing bilateral non-oil trade to $100 billion by 2030. Aside from refined crude oil products and gems and jewellery, electrical machinery and equipment, light and medium high technology goods such as boilers, generators, and reactors, and chemicals have all performed well. 

"Besides, at the product level, smartphones have emerged as a major item of export with shipments valued $2.57 billion bound for the UAE during 2023-24," according to the ministry.