On Friday, India’s exports to the United Emirates of Arab rose by 16.22% to $837.14 million from May to June this year post the signing of the CEPA. A total of $135.27 million and $185.78 million in plain gold jewelry were shipped in the months of May and June, respectively.
The Comprehensive Economic Partnership Agreement (CEPA) pact covers domestic exporters from various sectors like agriculture, gems, jewelry, and dry fruits that are getting duty-free access to the UAE market. The total for the previous year was $72.31 million following the introduction of the free trade agreement.
A rise in gold jewelry exports has been one of the immediate results of the India-UAE CEPA, as per the Gems and Jewelry Export Promotion Council (GJEPC) chairman, Colin Shah.
He said, “I urge all exporters to maximize thrift returns and make optimum use of the benefits available through this pact.”
According to a source, “India’s exports to the UAE, which were in a negative growth trajectory post the outbreak of COVID-19 to April 2022, have witnessed a rebound since May 2022, post the signing of the agreement.”