India and the United Arab Emirates (UAE) have held the third meeting of the Joint Committee under the India–UAE Comprehensive Economic Partnership Agreement (CEPA) in New Delhi, with both sides noting that bilateral trade reached USD 100.06 billion in FY 2024–25, a robust 19.6% year‑on‑year increase. The milestone reinforces the UAE’s status as one of India’s most important trading partners and underscores CEPA’s role in deepening the strategic economic partnership.
Joint Committee meeting and agenda
The meeting was co‑chaired by Additional Secretary, Department of Commerce, Shri Ajay Bhadoo, and UAE Assistant Undersecretary for International Trade Affairs, H.E. Juma Al Kait, under the institutional framework of the India–UAE Joint Committee that oversees CEPA implementation. Delegations from both sides conducted a comprehensive review of the agreement’s progress, examining how to remove remaining bottlenecks and maximise preferential access offered under CEPA.
Market access, Gold TRQ and trade remedies
Officials discussed a wide set of market‑access and operational issues, including tariff lines, data‑sharing mechanisms, allocation of Gold Tariff Rate Quota (TRQ), anti‑dumping matters, services trade, Rules of Origin and Bureau of Indian Standards (BIS) licensing. The Indian side briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process, aimed at improving predictability and fairness for importers using CEPA preferences.
Focus on non-oil trade and regulatory cooperation
Both countries reviewed recent high‑level engagements, including meetings between Commerce & Industry Minister Shri Piyush Goyal and UAE Minister Dr. Thani Al Zeyoudi in Mumbai and Dubai, and reaffirmed their commitment to grow non‑oil, non‑precious‑metal trade towards a separate USD 100 billion target by 2030. Discussions also covered regulatory cooperation in pharmaceuticals, faster resolution of issues around Certificates of Origin and BIS coordination, along with early signing of a food‑safety and technical‑requirements MoU between APEDA and the UAE’s Ministry of Climate Change & Environment (MoCCAE) to facilitate agri‑food exports.
Trade facilitation and services
The two sides agreed to strengthen trade‑facilitation measures, enhance regulatory collaboration and improve data‑sharing systems so that exporters and importers can better utilise CEPA preferences. They also decided to convene a dedicated Services Subcommittee meeting to address barriers and opportunities in sectors such as IT, professional services, tourism and logistics, which are seen as key drivers of future growth beyond goods trade.
Strategic significance of the visit
During the visit, the UAE delegation met Commerce Secretary Shri Rajesh Agrawal to discuss ways to optimise CEPA use by businesses on both sides and to promote a more balanced trade structure. The meetings highlighted the shared intent of India and the UAE to expand market opportunities, diversify trade beyond hydrocarbons and jewellery, and further cement their partnership as a cornerstone of India’s economic engagement with West Asia.
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Source: PIB
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