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India and UAE have signed the Comprehensive Economic Partnership Agreement (CEPA), aiming to enhance merchandise trade to $100 billion in the next five years. The agreement covers various areas such as free trade, digital economy, government procurement, and more. It is expected to create around one million jobs in labor-intensive sectors, benefiting industries like gems and jewellery, textiles, agriculture, pharmaceuticals, and more. The CEPA includes significant provisions such as automatic registration for Indian medicines and a safeguard mechanism to prevent import surges.
Thursday, 17 February, 2022