India, UAE seal ‘historic deal’ and here’s what UAE businessmen have to say

India, UAE seal ‘historic deal’ and here’s what UAE businessmen have to say

Dubai: India and UAE ‘sealed’ a historic deal that will boost bilateral trade from the current $60 billion to $100 billion in the next 5 years. Union minister of commerce and industry Piyush Goyal today said both India and UAE are entering a golden era of economic and trade cooperation with the signing of the India-UAE CEPA The agreement will provide significant benefits to Indian and UAE businesses, including enhanced market access and reduced tariffs. The Indian delegation was led by Union Minister of Commerce and Industry Piyush Goyal, while the UAE delegation was led by Abdullah Bin Touq, UAE Minister of Economy, Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade The impact of ‘the 881 page’ trade agreement will be felt in select sectors, with energy, manufacturing gold and jewellery, and pharmaceuticals expected to figure prominently. It is felt that the full benefits of the duty exemptions and cuts will then be extended to other sectors as the CEPA benefits flow wider. Could this also be the platform for UAE-India alliances to think beyond traditional sectors? In the months leading up to the deal being announced, there was speculation build up whether healthcare and