India’s new comprehensive economic partnership agreement (CEPA) with the UAE will come strengthen exports of fruits and vegetables, groundnut, dairy products and assorted processed food items to the Middle Eastern country. Removal or reduction of tariffs under the pact, which will take effect from May, could allow these exporters to gain an edge over other competitors.
The UAE is India’s second-largest export destination for agriculture commodities after Bangladesh. In 2020-21, India’s agricultural product exports to the UAE stood at $1,926 million and in the first three quarters of 2021-22, the exports to the country crossed $1,865 million. Currently, most exports of agricultural products to the UAE are subject to a 5% duty.
Source: financialexpress.com
