OPEN APP
Home / News / India /  UAE Ministerial delegation to visit New Delhi to strengthen trade ties
Listen to this article

Nearly 10 days after the India-UAE pact came into force, a high level delegation from the UAE led by their Minister of Economy Abdulla Bin Touq Al Marri will visit India on a four day visit from Wednesday to strengthen bilateral trade ties.

They will participate in several business to business engagements and industry interactions in New Delhi and Mumbai during the visit.

“The visit provides an excellent opportunity to further strengthen the already close and dynamic economic ties between the two countries. The visit also includes interactions with key investors of both sides," Ministry of commerce and industry said in a press release on Tuesday.

The India-UAE bilateral agreement will initially give zero duty access to 90% of Indian products and 65% of products from the UAE. Over a period of 10 years, 97% of Indian products will get zero-duty access to the UAE market and 90 per cent of UAE products would have duty free access to the Indian market.

The bilateral trade between two countries stood at US$ 65.1 billion in 2021-22, making UAE India’s 3rd largest trading partner. There is a potential of this trade growing to $ 100 billion, according to the press release. India is on an ambitious path to achieve US $ 5 trillion GDP by 2025 and UAE is considered as a valuable partner in India’s journey to realize this goal, it added.

Around 1000 exporters have registered under the India-UAE pact since it came into force on 1 May.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout