Bilateral Trade to reach $100 bn between India and UAE

On Wednesday, Minister of State for Commerce and Industry Anupriya Patel informed in the Parliament that the bilateral trade between India and UAE is expected to increase to USD 100 billion from the current USD 60 billion annually within five years of the implementation of the India-UAE free trade agreement. Both nations recently signed the Comprehensive Economic Partnership Agreement (CEPA) on the sidelines of the India-UAE Virtual Summit held on February 18. In her written reply in the lower house of the Parliament, Anupriya  Patel said the India-UAE CEPA is a comprehensive and balanced partnership agreement that will give boost market access for India in both goods and services. She said: "Bilateral trade in goods is projected to increase from the current USD 60 billion to USD 100 billion annually within five years of implementation of the India-UAE CEPA". In her other reply, Anupriya Patel said there is no scarcity of coal. She said: “CIL has provided coal supplies to the tune of 618.70 million tonnes (MT) during the current fiscal (upto March 9, 2022) in comparison to 531.4 MT supplied during the same period last year, thereby achieving a growth of about 16.4 per cent."