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India, UAE ink free-trade agreement; experts weigh in
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India, UAE ink free-trade agreement; experts weigh in
Feb 18, 2022 10:46 AM

India and the United Arab Emirate signed their first free trade agreement on Friday.

Trade between both nations currently stands at USD 43 billion and this free trade agreement (FTA) aims to expand that to USD 100 billion in the next 5 years.

After this deal, 80 percent of India's exports to the United Arab Emirate (UAE) will become duty free. Services, textiles, plastics, gems & jewellery exports to UAE are likely to get a boost.

The UAE is India's third largest trading partner and the second largest export destination after the United States.

To discuss the importance of the FTA between the two countries, CNBC-TV18 spoke to Anup Wadhawan, Former Commerce Secretary; Ajay Sahai, Director General & CEO of FIEO and Amitendu Palit, Senior Research Fellow for Trade & Economics at National University of Singapore.

Watch video for more.

First Published:Feb 18, 2022 7:46 PM IST

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