Indian Commerce Minister Piyush Goyal said on Monday that India and the UAE have agreed to increase bilateral non-oil trade to $100 billion by 2030.
Following his meeting with the UAE Minister of Foreign Trade, Thani bin Ahmed Al-Zeyoudi, the minister added that the central banks of the two countries are also discussing a system for trading in rupees and dirhams.
Indian Commerce Minister Sunil Parthwal said that his country hopes to increase the value of its exports to the United Arab Emirates to reach $50 billion by the 2026-2027 fiscal year.
He added in an event that Indian gold imports from the UAE could also increase in light of better utilization of the trade agreement between the two countries.
The Indian Trade Representative said the India-UAE trade agreement showed “relatively excellent results” in contrast to the general trend of trade.
He added that the joint trade committee with the UAE will meet next June to discuss the implementation of the trade agreement.
2023-06-12 09:19:34
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