India-UAE CEPA will boost trade and investments: FICCI

Hyderabad As India and UAE commemorate the Golden jubilee of Diplomatic Relations, the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries is a major step towards strengthening the bilateral relations and boosting trade and investment between both countries. The completion and signing of this document happened in record time, even amid pandemic, demonstrating the strong commitment towards strengthening the ties between both nations.

CEPA will lead to opening doors to new opportunities for trade and investments. UAE also acts as a gateway for our industry to get market access to the expanded GCC markets, West Asia, Africa, and even the CIS region. With this FTA, there will be an immediate boost in people to people contact too. The relationship will transition from traditional to tech-led business and enhance prosperity of our people as a natural consequence.

Sanjiv Mehta, President, FICCI said: "There are many areas which will benefit from this agreement. However, one area of the great mutual interest is innovation and startups, led by technology driven processes. We can visualise partnerships in health-tech, edutech, fintech, Industrial Revolution 4.0 and many more areas. Indian Industry feels such engagements will also help in tapping global opportunities together, particularly in the GCC and African markets."