The Indian government has begun a series of outreach programmes to make local businessmen aware of the opportunities offered by the Comprehensive Economic Partnership Agreement (CEPA) it had signed with the UAE…writes Krishnan Nayar
The CEPA was signed in New Delhi on 18th February and was witnessed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi, during their virtual summit on that day.
The first in a series of countrywide outreach programmes was held in Hyderabad this week, organised by the Government of Telangana state, jointly with the Union Ministry of Commerce and Industry.
The Union Minister for Tourism and Culture, G. Kishan Reddy, was the chief guest at the programme. Reddy is Member of the Lower House of Parliament, the Lok Sabha, elected from Telangana state.
Also Read
He said Telangana accounted for three percent of the overall merchandise exports of India. The CEPA offered a chance to increase the state’s export potential to the UAE and other countries for which the UAE is a business gateway. He urged his home state to improve its logistics facilities to take full advantage of the CEPA.
ALSO READ: India, UAE to work closely on UNSC agenda
In this context, the Union Minister of State for Commerce and Industry, Anupriya Patel, said Telangana has a big opportunity to become one of India’s exporting hubs due to its advanced pharmaceuticals, leather, gems, jewellery, and electronic goods industries. All these items have potential to be exported to the Gulf.
Moreover, Telangana recently created Export Promotion Councils in every district of the state to maximise exports.
Amit Yadav, Additional Secretary in the Union Ministry of Commerce, explained to assembled businessmen and exporters the potential advantages of the CEPA with the UAE.
Recently, the Ministry of Economy launched a new webpage for the Comprehensive Economic Partnership Agreement.
The e-platform provides UAE companies and investors, who wish to capitalise on the benefits provided by the Agreement, with access to all information related to the historic agreement, which has ushered in a new era of economic and trade cooperation between the two friendly countries.
