CEPA trade deal between India, UAE comes into force

STORY: CEPA trade deal between India, UAE comes into force DATELINE: May 2, 2022 LENGTH: 00:01:45 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of gems and jewelry 3. various of cloth market 4. various of shoe shop 5. various of agriculture STORYLINE: The Comprehensive Economic Partnership Agreement (CEPA) between India and United Arab Emirates (UAE) on Sunday formally came into force, officials said. The trade pact was signed between the two countries on Feb. 18. India's Commerce Secretary B V R Subrahmanyam flagged off the first consignment of goods comprising of jewellery products from India to UAE under the India-UAE CEPA at a function in New Delhi. The consignment, which will now attract zero customs duty under the CEPA agreement, is expected to reach Dubai on Sunday, an official statement said. According to India's federal ministry of commerce and industry, the gems and jewellery sector contributes a substantial portion of India's exports to the UAE