India, UAE target $100-bn non-oil trade by 2030

It was also agreed to set up certain sub-committees and councils

June 12, 2023 08:09 pm | Updated 09:56 pm IST - New Delhi

India and the UAE on Monday set a target to increase the non-oil trade from $48 billion to $100 billion by 2030.

The goal to achieve $100 billion non-oil trade was set in the first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA).

The agreement was implemented on May 1 last year.

"We have a mutually agreed (for a) target of $100 billion bilateral trade by 2030," Commerce and Industry Minister Piyush Goyal told reporters after the meeting.

The target of $100 billion will not include the oil trade.

It was also agreed to set up certain sub-committees and councils.

In the meeting, it was also decided to set up a new sub-committee to handle issues related to services trade.

Mr. Goyal said that an India-UAE CEPA council will be set up to further facilitate the implementation of the agreement.

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