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See outcome on rupee-dirham trade very soon; upped India-UAE trade target: Piyush Goyal.
Jun 14, 2023

India is hopeful of an early decision on the Rupee-Dirham trade with the UAE and the two countries have also more than doubled their non-petroleum trade target to $100 billion by 2030 from the earlier anticipated $48 billion.
 
A similar push will be given to petroleum trade too with India aiming to import more crude and export more refined products. Union commerce minister Piyush Goyal said this after the first meeting of India-UAE Comprehensive Economic Partnership Agreement’s (CEPA) joint committee here in Delhi on Monday that he had with UAE’s minister of state for foreign trade Thani bin Ahmed Al Zeyoudi along with a large delegation of government and industry leaders from both sides.
 
'Bilateral trade between India and UAE has seen significant increase n the last 12 months (CEPA was signed just over a year ago). Our earlier target was to touch $100 billion by 2030, which had a substantial petroleum component. (But the way things are going post CEPA) we have mutually agreed to up the target to $100 billion for non-metro by 2030 from the earlier $48 billion. Trade in petroleum (crude and refined) will also be increased,' Goyal said.
 
Several working groups have been set up to further increase trading ties under CEPA by resolving issues that have been raised by businesses on both sides. The 'outcome-oriented' push will be on MSME side, startups and women entrepreneurs.
    
timesofindia.indiatimes.com

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