The India-UAE trade pact has been instrumental in transforming the bilateral partnership between the two nations. The pact, which was signed in 2018, has resulted in increased trade and investment between India and the UAE.
According to the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary, the India-UAE trade pact has resulted in a significant increase in bilateral trade between the two nations. The trade pact has opened up new opportunities for Indian businesses in the UAE and vice versa. It has also helped to boost economic growth in both countries.
The DPIIT Secretary stated that the India-UAE trade pact has resulted in a number of benefits for both nations. For India, the pact has helped to increase exports to the UAE, which is one of India’s largest trading partners. The UAE is also a major destination for Indian goods and services. In addition, the trade pact has helped to improve the ease of doing business for Indian companies operating in the UAE.
For the UAE, the India-UAE trade pact has helped to increase investment in India. The UAE is one of the largest investors in India and has made significant investments in a number of sectors, including energy, infrastructure, and real estate. The trade pact has also helped to improve the overall business environment in India, making it more attractive for UAE companies to invest in the country.
The DPIIT Secretary also noted that the India-UAE trade pact has resulted in increased cooperation between the two nations in a number of areas, including renewable energy, agriculture, and healthcare. The two nations have also signed a number of agreements to promote bilateral trade and investment.
In conclusion, the India-UAE trade pact has been instrumental in transforming the bilateral partnership between India and the UAE. It has resulted in increased trade and investment between the two nations and has opened up new opportunities for businesses in both countries. The trade pact has also helped to improve the overall business environment in India, making it more attractive for foreign investors. As such, the India-UAE trade pact is a significant step forward in strengthening the economic ties between these two important nations.
