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    Omkar, Grade 10 student at Canadian International School (CIS), Bangalore.

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  • Home
  • World

    Export Surge: India Steps Up on Global Stage

    Omkar, Grade 10 student at Canadian International School (CIS), Bangalore.

    CIS Student Omkar Earns Global Recognition with Distinctions in Music and International Violin Performance

    Passenger Demand Grows 4.6% in August

    UPDATE ON ING’S EXIT FROM THE RUSSIAN MARKET

    World leaders show strong support for political declaration on noncommunicable diseases and mental health

    150 students complete Sona Group’s Xccelerator 2.0 Programme powered by Unreal Engine, Dassault

  • National
    • All
    • Economy & Politics
    • Election

    PM to visit Maharashtra on 8-9th October

    Celebrating fashion, creativity, and craftsmanship on the red carpet at Timex IBFW Showcase

    Timex India Set to Elevate Fashion Trends as Title Sponsor of 11th Edition of India Beach Fashion Week

    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    The (NALSA), in collaboration with the (MCPC) of the Supreme Court of India, 90-day “Mediation for the Nation” campaign concludes.

    Omkar, Grade 10 student at Canadian International School (CIS), Bangalore.

    CIS Student Omkar Earns Global Recognition with Distinctions in Music and International Violin Performance

    Phoenix Mall of Asia, Bengaluru Hosts Spectacular Grand Finale of Phoenix Mega Model Hunt 2025

  • Business

    GST Reforms: Powering Punjab’s Growth & Livelihoods

    SBI Card Rolls Out Festive Offer 2025 with “Khushiyan Unlimited” campaign

    Where Lifestyle Aspirations Meet the Right Credit Card, Unlocking Possibilities

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    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    Herbalife India Launches Liftoff® – A Zero Added Sugar Effervescent Drink

    Chief Minister Siddaramaiah inaugurated a super specialty hospital in Belgaum.

    Heart Transplant Gives 63-Year-Old Man from Madanapalle a New Lease of Life

    KARNATAKA HEALTH MINISTER DINESH GUNDU RAO LAUNCHES DOCBRELLA.

    Mauritius to Host 2nd International Musculoskeletal Summit (IMS 2.0) 2025

    Cholera vaccination campaign launched in Darfur to protect over 1.8 million people

  • Technology
    • All
    • Environment
    • Science

    NTT DATA Enhances Salesforce Capabilities with Strategic Acquisition of EXAH

    India’s Best Minds Must Power Defence Innovation for Vision 2047,” says CMD, BEL at CII AeroDef Tech Summit 2025

    150 students complete Sona Group’s Xccelerator 2.0 Programme powered by Unreal Engine, Dassault

    OPPO India launches F31 5G Series: The Best Smartphone for Durability with Smooth and powerful performance

    L&T Technology Services, SiMa.ai Collaborate for Product Innovation in Mobility, Healthcare, Industrial Automation & Robotics

    Apple Koregaon Park opens to customers this Thursday September 4 in Pune - PHOTO CREDIT-Apple

    Apple Koregaon Park opens to customers this Thursday, September 4, in Pune

  • Auto

    One millionth Volvo plug-in hybrid now on road

    Stellantis and Mistral AI Expand Their Collaboration to Accelerate Enterprise-Wide AI Adoption

    Tata Motors Q2 FY26 Sales

    Toyota Launches Strategic Investment Subsidiary and Woven Capital Fund II to Accelerate Transformation into a Mobility Company

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    ‘India has good, leading swimmers, they just need more of them,’ says legendary swimming coach Michael Bohl

    Bulls tamed in tie-breaker thriller! Puneri Paltan’s all-round performance takes them to top of points table

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    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

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    Made for 10/10 Celebrations: Tata CLiQ Fashion, Tata CLiQ Luxury, and Tata CLiQ Palette announce their flagship festive sale event, 10/10

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    Passenger Demand Grows 4.6% in August

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India UAE CEPA ushers in a new dawn, will create a minimum of 10 lakh jobs for Indian citizens: Union Commerce Minister Piyush Goyal

FWM by FWM
February 20, 2022
in Business
0

With the CEPA, around 90% of products exported from India to UAE will attract zero duty: Commerce Minister
“We will surpass the $ 100 billion bilateral goods trade target we have set for 5 years”
PIB MUMBAI, FEBRUARY 19, 2022

The Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal has termed the India UAE Comprehensive Economic Partnership Agreement (CEPA) is extremely beneficial for MSMEs, startups, farmers, traders and all sections of businesses.

Addressing a press conference in Mumbai, the Minister asserted that the CEPA is a balanced, fair, comprehensive & equitable partnership agreement, which will give enhanced market access for India in both goods and services. “It will create jobs for our youth, open new markets for our startups, make our businesses more competitive & boost our economy.”

Goyal informed that sector-wise consultations have shown that the pact will create a minimum of 10 lakh jobs for Indian citizens.

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The Union Minister said that the CEPA is a landmark partnership between two nations whose political leadership and businesses share very strong bonds going back many years in history. “The finalization of the 880-page document in a record time of 88 days is a big achievement for both nations, it will boost economies of India and UAE and will usher in a new dawn for the people of the two countries.”

The Commerce Minister informed that the partnership agreement will open doors especially to labour-intensive Indian products which are exported to UAE – such as textiles, gem & jewellery, medicines, agricultural products, footwear, leather, sports goods, engineering goods, auto components and plastics.

He told the media that under the pact, UAE has offered immediate market access at Zero duty from day one of the entry into force of the Agreement, to products accounting for 90% of India’s exports to UAE in value terms. “Around 90% of products exported from India to UAE will attract zero duty with implementation of the Agreement. 80% lines of trade will attract zero duty, remaining 20% does not affect our exports much, so this is a win-win agreement.”

The CEPA will not only improve competitiveness of Indian products, but also provide strategic advantages to India. “Since UAE functions as a trading hub, the Agreement will help provide us market entry points to Africa, Middle East and Europe” he added.

The Minister noted that with the conclusion of the CEPA, India and UAE aim to increase  bilateral goods trade over the next five years to $100 billion. “However, I believe that the potential for trade between the two nations is even bigger, we will surpass the target we have set for ourselves”, said the Minister.

The Minister threw light on benefits to various sectors. “The CEPA brings the two nations closer, will open many new opportunities for Indians to work in UAE, including in fintech, edtech, green tech, automation and Artificial Intelligence. Technology, digital trade and sustainability have a big focus in the partnership.

“For the first time in a Trade agreement, the CEPA provides for automatic registration and marketing authorisation of Indian generic medicines in 90 days, once they are approved in developed countries. This will give big market access to Indian medicines not only in UAE, but also in Middle East and Africa.” Shri Goyal informed.

The Minister also said that the CEPA provides for a permanent bilateral safeguard mechanism to deal with sudden surge in imports of any product. It also has stringent ‘rules of origin’ reflecting requirements for substantial processing of up to 40% value addition. An MoU among APEDA, DP World & Al Dahra on the UAE side regarding “Food Security Corridor Initiative” has been prepared, under which India will be able to play an important role in food security of UAE, he added.

It may be recalled that the landmark India-UAE Comprehensive Partnership Agreement deal was signed during the virtual summit meeting between Prime Minister of India,  Narendra Modi and Crown Prince of Abu Dhabi, H.E. Sheikh Mohamed bin Zayed Al Nahyan.

 

Tags: Comprehensive Economic Partnership Agreement (CEPA)Consumer AffairsCrown Prince of Abu DhabifarmersFood & Public Distribution and TextilesH.E. Sheikh Mohamed bin Zayed Al Nahyan.MSMEsstartupsThe Union Minister for Commerce & Industrytraders
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