As a result of the countries' free trade agreement, India's exports to the UAE are expected to exceed USD 50 billion by 2026-27, up from USD 31.3 billion currently.

Sunil Barthwal, India's Commerce Secretary, stated that trade between India and the UAE has increased significantly since the trade agreement's implementation on May 1 last year."We are hoping to achieve USD 50 billion in exports by 2026-27," Barthwal told reporters.

The Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates (UAE), signed on February 18, 2022, went into effect on May 1, last year.

In the previous fiscal year, India's exports to the UAE increased by 11.8 percent to USD 31.3 billion, while imports increased by 18.8 percent to USD 53.2 billion.

Former Chairman of the Council for Leather Exports P Aqeel Ahmed stated that the trade agreement is the "most effective that we have seen in recent times."