May 11, 2023
1 min read

IJEX in Dubai commemorates India-UAE CEPA

India-UAE CEPA was signed on February 18, 2022, in New Delhi during the India-UAE Virtual Summit held between Prime Minister Narendra Modi and Sheikh Mohammed Bin Zayed Al-Nahyan…reports Asian Lite News

India and the UAE celebrated the first anniversary of the Comprehensive Economic Partnership Agreement (CEPA). Commemorating the first year of India-UAE CEPA, the apex trade body Gem and Jewellery Export Promotion Council (GJEPC) launched the first-of-its-kind India Jewellery Exposition Centre (IJEX) – a round-the-year exhibition platform in Dubai.

India-UAE CEPA was signed on February 18, 2022, in New Delhi during the India-UAE Virtual Summit held between Prime Minister Narendra Modi and Sheikh Mohammed Bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi. The negotiations for India-UAE CEPA were concluded in a record span of 88 days. The agreement entered into force on May 1, 2022.

Since the Middle East market accounts for 30 per cent of India’s gem and jewellery exports, the exhibition centre will enable India’s MSME manufacturers to take advantage of India-UAE CEPA to expand in the region.

The trade deal between the countries has been a boon to the bilateral trade relations between the two nations, with India-UAE trade growing by 16 per cent to reach USD 84.5 billion in the fiscal year 2022-23, up from USD 72.9 billion the previous year.

India’s exports to the UAE grew by 11.8 per cent to USD 31.3 billion, with the gem and jewellery sector witnessing an impressive surge of 16.54 per cent to USD 5.77 billion.

“CEPA is one of the most ambitious pacts. The depth and range of market access and services it provides is unprecedented, benefitting all stakeholders. India’s exports to UAE have exceeded USD 30 billion, with gems & jewellery and plastics deriving benefits from lower-priced inputs. GJEPC has set up IJEX and I see tremendous value in such initiatives. CEPA will accelerate business momentum and is expected to transform the scale and scope of bilateral partnerships,” Rajesh Kumar Singh, Secretary at DPIIT under the Ministry of Commerce & Industry said. (ANI)

ALSO READ: UAE, Tajikistan sign air transport services deal

Previous Story

Tourism in Italy sets to smash record this year

Next Story

Biden thanks UAE for enhancing agri innovation drive

Latest from -Top News

Pak Army Chief Targets India Again

This is not the first time that Munir has indulged in loose talk, exhibiting conduct unbecoming an officer….reports Asian Lite News Pakistan’s Chief of Army Staff (COAS) General Syed Asim Munir on

Relief for Students: US Visa Cancellations Paused

More than 1,500 student visas have been cancelled so far…reports Asian Lite News The United States on Friday abruptly paused the cancellation of student visas issued to international students, according to reports.

Yunus Must Be Treated Like Hasina, Warn Islamists

Islamist group made these warnings to the interim government, terming the women’s reform body proposals as “anti-Islamic…reports Asian Lite News The radical Islamist group in Bangladesh, Hefazat-e-Islam, has issued a threat, stating

UN: Bring Pahalgam Terrorists to Justice

The members of the Security Council “stressed that those responsible for these killings should be held accountable..reports Asian Lite News The Security Council has “condemned in the strongest terms” the Pahalgam terrorist
Go toTop

Don't Miss

President MBZ, Jordan King discuss ties

This came when President Sheikh Mohamed yesterday received King Abdullah

Mohamed bin Zayed ‘Bike City’ label to Abu Dhabi is a new global recognition

Abu Dhabi – being awarded the ‘Bike City’ label –