Current Affair 1:

Few important points:

1. India is UAE’s second-largest trading partner accounting for 9% of its total foreign trade and 14% of non-oil exports. Also, the UAE is India’s third biggest trade partner.
2. India-UAE trade has increased from US$ 180 million per year in the 1970s to US$ 84.84 billion in FY23.
3. India and UAE bilateral trade worth US$ 84.84 billion during 2022-23. After the USA and China, UAE became India’s third largest trading partner and India's second-largest export destination.
4. UAE is the 7th largest investor in India with cumulative FDI inflows of US$ 16.67 billion from April 2000-September 2023.
5. The UAE is home to 3.5 million Indians (30% of the Emirate’s population). Indians are the largest expatriate community in the UAE, and their remittances are a significant source of foreign earnings.

Major exported items from India to UAE include gems and jewellery (US$ 4.82 billion) followed by petroleum products (US$ 3.95 billion), engineering goods (US$ 3.423 billion), electronic goods (US$ 2.15 billion) and others (US$ 1.48 billion), etc. during April-November 2023.

Major imported items by India from UAE include pearl, precious and semi-precious stones (US$ 11.16 billion), petroleum products (US$ 9.84 billion), plastic and articles thereof (US$ 1.20 billion), bulk minerals and ores (US$ 679 million), tanning or dyeing extracts (US$ 652 million) during April- November 2023.

India-UAE Comprehensive Economic Partnership Agreement (CEPA):

Since entering into force on 1 May 2022, the CEPA has played a crucial role in elevating the UAE-India bilateral relationship to new heights.

If you see India-UAE trade:

 

 

 

 

 

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