Trade Deal between UAE & India shares Prosperity
The CEPA Partnership between the two nations UAE and India signed to share the prosperity and welcome an advanced future full of cultural and strategic ties that bring myriad of opportunities in both the nations. The virtual summit was held between His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Prime Minister of India Mr. Narendra Modi.
The trade deal will be benefiting the UAE and India’s business sectors by providing exposure and increasing market access with reduced tariffs. The Comprehensive Partnership Economic Agreement between UAE and India will lead to an increase in bilateral trade from the current amount of $60 billion to $100 billion in the coming five years.
The CEPA partnership in both nations showcases positive relations. The business will flourish at a faster rate than before which means the growth opportunities are huge for foreign investors. UAE is one of the largest trading partners in terms of exports of India while India has the ninth-largest foreign direct investment with a cash flow of $51 million. The CEPA partnership will bring more inflow of cash and opportunities in terms of real-estate investments, air transport, digital trade, food industry, and much more. The foreign investor can build their business from scratch and retain a series of benefits with the trade deal, zero corporate tax, and major levied on 90% of exports. What else can one want?
The UAE Government has taken strategic approaches to strengthen their economy and take steps that improve bilateral relations via this partnership. The UAE has one of the strongest economies and is planning to enhance it by bringing more businesses, innovative products, technological development, and the list goes on. Regardless of business size CEPA provides exposure to businesses and provides the platform to pursue businesses globally by granting them access to the new customer base, network, and different sources of collaboration.
The partnership opens up a new era of opportunities and a new vision towards the India-Vision statement which ensures both countries are working closely to bridge the gap between the two nations and focus on eliminating the challenges to achieve the shared objective for a better future. The trade deal will increase the businesses and flourish the economy as trade exchanges are increased by 120 percent to $100 billion in the coming years. The cultural differences and diplomacy are two factors that majorly affect the business which now will take a back seat and the government will focus on taking strategic approaches for the development of the different business sectors.
This showcases the solid plans that will be enforced in the coming years. Also, entrepreneurs can set up their business with the FlyingColour Business Setup Services expertise and commence the operations in less than a month.
