Page 7 - India-uae

India, UAE sign pact for AEOs for faster customs clearances, says CBIC

India and UAE on Friday signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries, the CBIC said. The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them better facilitation. UnderA, Customs authorities recognise AEOs of both countries, which in turn helps expedite customs clearances. "In pursuance of greater trade facilitation & ease of doing business, India & UAE signed the Mutual Recognition Arrangement for Authorised Economic Operators of both countries today, on sidelines of the 141st/142nd sessions of WCO Customs Co-operation Council meeting, in Brussels," the Central Board of Indirect Taxes and Customs (CBIC) tweeted. Earlier in September 2021, India and the US had signed aA AEO. The Customs authorities of both countries have already evaluated each other's AEO programme and is working to quickly implement the reciprocal arrangement for authorised economic ...

India and UAE in talks to resolve customs concerns raised by exporters

Exporters have expressed their concerns regarding 'rules of origin' requirements outlined in the free trade agreement signed by both nations

India planning to seek easier entry for dentists, nurses, CAs into the UAE

India will seek easier entry for dentists, nurses, company secretaries into the UAE as it explores mutual recognition agreements (MRAs) with the latter as part of CEPA

UAE-India CEPA deal paying off on every economic front: UAE Min Al Zeyoudi

The landmark UAE-India Comprehensive Economic Partnership Agreement (CEPA) is paying off on every economic front, with the benefits of its integration far broader than just trade, Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, said on Tuesday. India and the UAE inked CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. India has been given certain duty concessions on the import of gold from the UAE under the CEPA. The agreement was officially implemented on May 1 last year. "Indian business owners have been spurred to pursue new opportunities in the UAE since the deal was signed, with 11,000 new companies registering with the Dubai Chamber of Commerce in 2022, bringing the total to more than 83,000," Al Zeyoudi wrote in the Dubai-based Gulf News newspaper. There is little question that the CEPA will come to be regarded as a significant milestone

India-UAE aim to double non-oil trade to $100 bn by 2030: Piyush Goyal

Joint committee of officials from both sides to review terms of CEPA, which came into force on May 1, 2022

UAE emerges 4th-largest investor in India, FDI jumps over 3x in FY23

The United Arab Emirates (UAE), with which India implemented a comprehensive free trade agreement in May last year, has emerged as the fourth largest investor in India during 2022-23, according to government data. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021-22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. The UAE was the fourth largest investor in India in 2022-23 compared to the seventh in 2021-22. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). "The rapidly strengthening of bilateral ties and investment cooperation between India and United Arab Emirates (UAE) can be chiefly attributed to the strong bilateral relations between India and UAE, growth in investment commitments from UAE, and the policy reforms to further ease of doing ..

India, UAE to review CEPA progress next week, to chalk out data sharing

A delegation from the UAE will be in the national capital next to meet key officials from the department of commerce, a person aware of the matter said

India-UAE trade partnership transforming bilateral partnership: DPIIT Secy

The free trade agreement between India and the UAE has transformed the partnership between the two countries by promoting two-way commerce at a healthy rate, an official statement said on Tuesday. The agreement came into force on May 1 last year. Addressing a business gathering in Dubai, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that initial gains of the pact have already started accruing with bilateral trade growing at around 20 per cent and touching an "all-time" high of around USD 84 billion during 2022-23. Singh, along with Juma Mohammed Al-Kait, Assistant Undersecretary for International Trade, Ministry of Economy, United Arab Emirates and Sunjay Sudhir, Ambassador of India to the UAE, inaugurated the International Jewellery Exposition Centre in Dubai. Around 100 companies from India and UAE, including representatives from Export Promotion Councils from India, have participated in the expo. The secretary also held

India's exports to UAE likely to grow by 60% to $50 billion by FY27

Officials expect exports to touch $50 billion during the same period

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8,437 Indian prisoners are lodged in foreign prisons; UAE with max 1,966

There are a total 8,437 Indian prisoners in foreign prisons, including under trials. The United Arab Emirates (UAE) has the maximum with 1,966 Indian prisoners

India-UAE partnership: CEPA review to focus on key data sharing

"Such trade facilitation can also help in enhancing our exports; logistics cost will also come down," the official said

Top headlines: Mega push for Jal Jeevan mission, India inks pact with UAE

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Indian Ambassador to UAE, Sunjay Sudhir visits IDEX exhibition in Dubai

Indian Ambassador to UAE Sunjay Sudhir visited the BrahMos Aerospace stall at the IDEX defence exhibition there. The Indian envoy was briefed on the different projects

CEPA with UAE gave boost to Indian entrepreneurs, deepened ties: PM Modi

Prime Minister Narendra Modi on Sunday said the Comprehensive Economic Partnership Agreement (CEPA) with the UAE has given a boost to Indian entrepreneurs and also deepened ties with the Gulf country. India and the United Arab Emirates (UAE) inked a CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. Tagging a tweet by Commerce and Industries Minister Piyush Goyal in which he shared an article jointly written by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and him on one year of CEPA, Modi said the CEPA with the UAE has given a boost to Indian entrepreneurs and has also deepened our ties with UAE. The trade pact was signed last year by Commerce Minister Goyal and Economy Minister of the UAE Abdulla bin Touq Al Marri.

CEPA: India's non-oil exports to UAE rise 5% during June-January

India exported goods worth $285.9 billion during the June-January period, up 3.1%

Special event organised to celebrate signing of India-UAE CEPA in Abu Dhabi

A special business event was organised on Friday to celebrate the completion of one year of the signing of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in Abu Dhabi.Marking a successful year of CEPA signing, a Special Business Event was organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) in association with the Embassy of India, Abu Dhabi, Consulate General of India, Dubai and Dubai Chambers on 17th February 2023 at Dubai, read the press release of the Indian Embassy in Abu Dhabi, UAE.The event was participated in by more than 200 leading businesses from India and the UAE, added the release.India and UAE on February 18th, 2022 signed a historical Comprehensive Economic Partnership Agreement (CEPA).The CEPA was signed during the virtual summit in the presence of Prime Minister Narendra Modi and the President of UAE, Sheikh Mohamed bin Zayed Al Nahyan,Addressing the gathering at the special business event, Dr Thani Al Zeyoudi, UAE ...

India adopting environment-friendly development model: Sultan Al Jaber

President-designate for COP28 UAE Sultan Al Jaber on Tuesday made the case for a pro-growth, pro-climate agenda to support an inclusive energy transition that leaves no one behind.

India, France, UAE unveil plans for co-operation under trilateral framework

India, France and the United Arab Emirates on Saturday unveiled an ambitious roadmap for cooperation in a plethora of areas including defence, energy and technology under a trilateral framework, a move that comes amid the geopolitical turmoil triggered by the conflict in Ukraine. The plan was finalised during a phone conversation among External Affairs Minister S Jaishankar, his French counterpart Catherine Colonna and UAE's Sheikh Abdullah bin Zayed Al Nahyan. A joint statement said it was acknowledged that defence is an area of close cooperation between the three countries. "Therefore, efforts will be undertaken to further promote compatibility, and joint development and co-production, whilst seeking out avenues for further collaboration and training between the three countries' defence forces," it said. India, France and the UAE also agreed to boost cooperation in food security and circular economy and vowed to focus on key issues such as single-use plastic pollution and ...

Davos 2023: UAE, India in early talks to settle non-oil trade in rupees

Thani Al-Zeyoudi, the UAE's minister of state for foreign trade said other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies