FTA between India and UAE, a boon for Indian Jewelers

With this FTA, bilateral trade between the two nations is anticipated to expand from $ 60 billion to $100 billion over the following five years.

FTA between India and UAE, a boon for Indian Jewelers
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The Commerce Secretary BVR Subrahmanyam recently announced that trade agreements between India and the United Arab Emirates (UAE) would allow duty-free access to the UAE market for the local jewelry industry, boosting exports significantly.

On the other side, the Gulf countries will have greater access to the gold market in India since India would waive tax on gold imports of up to 200 tonnes. In 2020-21, India bought around 70 tonnes of gold from the UAE.