Non-Oil Trade
India and the UAE on Monday set a target to increase the non-oil trade from the current $48 billion to $100 billion by 2030.
The goal to achieve $100 billion in non-oil trade was set during the first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA).
The target of $100 billion will not include the oil trade.
It is agreed to set up various committees and subcommittees and technical councils with regard to the implementation of various provisions of the trade agreement.
The trade agreement, is helping
Indian exports from sectors like textiles, footwear, automobiles and gems and jewellery,
While UAE exporters are increasing shipments from iron and steel, aluminium and polymers.
India is UAE's second-largest trading partner accounting for 9% of its total foreign trade and 14% of non-oil exports.
Also, the UAE is India's third biggest trade partner
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