According to data from the Indian Ministry of Commerce, the United Arab Emirates (UAE) saw its exports to India rise by a significant 70.37% year-on-year in October, reaching $7.2 billion.
During the April-October period, UAE exports to India grew by 55.12%, amounting to $38.64 billion compared to $24.91 billion in the same period of the previous year.
Iron and steel, aluminum, copper, and nickel products played a crucial role in driving this growth. Additionally, UAE's exports of mineral oils, chemicals, essential oils, fragrances, and precious stones further boosted its trade performance with India.
The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, which came into effect in May 2022, has been a key factor in the trade surge. The data shows that UAE exports to India increased by 72.7% to $6.38 billion in August and by 49.22% to $5.38 billion in September.
The UAE remains India’s third-largest trading partner, with bilateral trade volume reaching $83.65 billion in the 2023-2024 fiscal year.
India’s exports to the UAE also showed growth, rising by 23.75% to $2.91 billion in September and by 3.16% to $2.84 billion in August.
The trade relationship between the two nations has been significantly strengthened by the increasing demand for key commodities like iron, steel, and aluminum. These products remain at the heart of India-UAE economic ties, further solidifying their growing partnership.
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