After implementation of a free trade agreement, India's exports to the UAE rose by 16.22 per cent to USD 837.14 million during May-June this year, sources said on Friday.
Exports during the same period of the previous year stood at USD 720.31 million.
The Comprehensive Economic Partnership Agreement (CEPA) between the two countries came into force from May 1.
Under the pact, domestic exporters from various sectors like textiles, agriculture, dry fruits, gems and jewellery are getting duty-free access to the UAE market.
"India's exports to UAE which were in negative growth trajectory post the outbreak of Covid-19 to April 2022 have witnessed a rebound since May 2022, that is, post the signing of the agreement," the sources said.
Post the signing of the CEPA, exports grew by 16.22 per cent to USD 837.14 million in May-June 2022, one of the sources said.
Shipments of plain gold jewellery increased by 62 per cent and 59 per cent in May and June to USD 135.27 million and USD 185.78 million, respectively.
Colin Shah, Chairman, GJEPC (Gems and Jewelery Export Promotion Council), said that plain gold jewellery exports have been the immediate beneficiary of the India-UAE CEPA.
"I urge all exporters to maximise their returns and make optimum use of the benefits available through this pact," he has said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app