In addition to reducing tariffs, the trade agreement — only the second since Mauritius The emirate is expected to include key provisions for easy movement of Indian professionals and workers. While the UAE is already the largest base for Indian expatriates, companies are expected to get more relaxations in hiring workers from the country, with some eligibility test requirements also expected to be eased, the deliberations are familiar with. Sources told TOI.
In addition, there will be a message indicating easier investment norms, in which UAE entities are expected to invest money in building critical infrastructure in India. On the import duty front, some areas of interest to India, such as food products, are expected to get concessions so that they can compete more favorably with products from other parts of the world. In return, certain products in the petro-chemical value chain will be allowed lower duty in India. Government sources said efforts have been made to ensure that third country imports do not enter the UAE, including other Gulf countries and China, through minor value additions.
part of UAE Gulf Cooperation Council (GCC), which had been negotiating a free trade agreement with India several years ago, until the talks were abandoned. as well as India gcc Negotiations with several trading partners were halted. The bilateral trade agreement with the United Arab Emirates also marks a significant change in India’s stance as the Modi government halted talks with all countries until the Modi government removed its barriers after exiting the country. rc e p Due to the widespread presence of China.
Since then, it has entered into negotiations with some FTAs with the EU, UK, Australia and Israel, which is expected to work in the coming months. With bilateral trade of $43 billion, the UAE was India’s third largest trading partner during the last financial year, trailing China and the US. During April-October this year, it was the second largest export destination for Indian goods.
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