New Delhi: India and the UAE marked a significant milestone on Thursday, as the two countries held the third meeting of the joint committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in New Delhi.
The meeting, co-chaired by Ajay Bhadoo, additional secretary, Department of Commerce, and Juma Al Kait, the UAE’s assistant undersecretary for international trade affairs, underscored the strength and momentum of the bilateral economic partnership.
The highlight of the session was the confirmation that bilateral trade between India and the UAE has crossed $100.06 billion during FY 2024–25, a striking increase of 19.6% over the previous year. This surge reinforces the UAE’s status as one of India’s most important trading partners.
During the meeting, both sides carried out a comprehensive review of CEPA implementation. The key issues on the table included market access barriers, data-sharing protocols, anti-dumping concerns, services trade, rules of origin, and licensing under the Bureau of Indian Standards (BIS).
Of particular note was India’s briefing to the UAE on a new transparent competitive bidding process for Gold TRQ (Tariff Rate Quota) allocation — a shift aimed at making gold imports under CEPA more equitable and efficient for Indian buyers and importers.
The committee also reviewed a series of high-level bilateral engagements, including recent meetings between Commerce Minister Piyush Goyal and the UAE’s trade leadership, reflecting both sides’ intent to leverage CEPA for deeper economic integration.
Looking ahead, India and the UAE reiterated their commitment to hitting a $100 billion annual target in non-oil and non-precious-metal trade by 2030, signalling clear intent to diversify and deepen trade beyond traditional commodity lines.
They also agreed to expedite regulatory cooperation, especially in pharmaceuticals, standardisation (BIS), food safety, and technical compliance, including early finalisation of an MoU between Agricultural and Processed Food Products Export Development Authority (APEDA) and the UAE’s Ministry of Climate Change & Environment (MoCCAE).
The meeting concluded with a commitment to strengthen trade facilitation, data-sharing, and regulatory collaboration; and a plan to convene the Services Subcommittee soon for further action.
The third joint committee meeting under CEPA not only celebrated a landmark trade milestone, but also laid the groundwork for deeper, more diversified economic engagement. With structural reforms like transparent TRQ auctions and expanded regulatory cooperation, the India-UAE trade corridor is poised for broader participation from businesses — from jewellers to exporters to food-processing firms — and stands as a bellwether for India’s ambition to shift toward future-oriented, non-oil trade.