India-UAE trade pact to boost apparel exports, employment, say exporters
Zee News
Federation of Indian Export Organisations (FIEO) President A Sakthivel said that the pact will be beneficial to Indian exports particularly for the labour-intensive sectors.
New Delhi: Implementation of the comprehensive free trade agreement between India and the UAE would help boost the country's exports and creation of lakhs of jobs, according to exporters.
Welcoming the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates (UAE) on Friday, Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka said that it will further strengthen India's dominant position in the UAE.
"With India supplying USD 1,515 million of apparel to the UAE as against its total imports of USD 3,517 million, Indian apparel exports contribute a decent share of 43 per cent. The trade pact would result in a drop of 5 per cent import duty for Indian readymade garments. This will further strengthen the dominant position of Indian apparels in the UAE," Goenka said.
He added that Indian apparel exports to the UAE also cater to the needs of Saudi Arabia, Kuwait, Bahrain, Oman and the UK.
Federation of Indian Export Organisations (FIEO) President A Sakthivel said that the pact will be beneficial to Indian exports particularly for the labour-intensive sectors like agriculture and processed food including meat and marine products, gems and jewellery, apparel and textiles, leather and footwears.
