11th to 21st January 2024 - India-UAE Business Summit Flashcards
What was the India-UAE Business Summit held in conjunction with?
Vibrant Gujarat Global Summit 2024
What significant council website was launched during the summit?
UAE-India CEPA Council (UICC) website
Besides the council website, what other important resource was launched at the summit?
A report titled “Unlocking Opportunities: India-UAE Start-Up Ecosystem Convergence”
What kind of discussion session was held to explore enhanced partnerships?
Focused discussion on trade finance, investment facilitation, and collaboration in various sectors.
What is the name of the proposed Indian warehousing facility in the UAE intended to benefit Indian exporters?
Bharat Mart
How much did India-UAE trade increase to in the year 2022?
USD 85 billion
In 2022-23, what is India’s trade ranking with the UAE?
India’s third-largest trading partner
India holds what position in the UAE’s export market?
India is the UAE’s second-largest export destination
When did the India-UAE Comprehensive Economic Partnership Agreement (CEPA) come into effect?
1 May 2022
What is the India-UAE non-oil trade target for the year 2030?
US$100 billion
Why is the India-UAE CEPA a groundbreaking agreement?
India became the first country with which the UAE signed a Comprehensive Economic Partnership Agreement.
How has the CEPA impacted bilateral trade since it took effect?
Bilateral trade has increased by approximately 15%
In the first year of the CEPA, how much did bilateral non-oil trade reach, and what does this represent?
US$50.5 billion, a growth of 5.8% compared to the same period the previous year.
What type of Memorandum of Understanding was signed by India and UAE Central Bank Governors in 2023?
A Memorandum of Understanding to promote the use of local currencies (INR and AED) in cross-border transactions.
