India’s trade deal with the United Arab Emirates (UAE) became the ‘fastest used’, government officials hope exports will touch the $50-billion mark by financial year 2026-27 (FY27).
“In 2026-27, we will be completing five years of (signing) CEPA, and we should be able to reach $50 billion exports,” commerce secretary Sunil Barthwal told reporters on the first anniversary of the agreement.
India exported goods worth $31.3 billion during the financial year April-March of 2022-23 (FY23), up 4.8 per cent year on year (YoY). During the same period, India’s overall merchandise exports witnessed a 5 per cent growth – at $444 billion.