New Delhi: The signing of the CEPA between India and the UAE is a major step towards strengthening the bilateral relations and boosting trade and investment between both countries, as India-UAE commemorates the golden jubilee of our diplomatic relations.

The completion and signing of this document happened in record time, even amid a pandemic demonstrating the strong commitment towards strengthening the ties between both countries, said industry body FICCI, adding that CEPA will lead to opening doors to new opportunities for trade and investments.

Sanjiv Mehta, President, FICCI, said: “We applaud the leadership of our two countries in making CEPA a reality in record time, even amid a pandemic. There are many areas which will benefit from this agreement. However, one area of great mutual interest is innovation and start-ups, led by technology driven processes.”

“We can visualise partnerships in health-tech, education tech, financial technology, Industrial Revolution 4.0 and many more areas. Indian Industry feels such engagements will also help in tapping global opportunities together, particularly in the GCC and African markets,” added Mehta.

It may be kept in mind that the UAE also acts as a gateway for our industry to get market access to the expanded GCC markets, West Asia, Africa, and even the CIS region. With this FTA, there will be an immediate boost in people to people contact too. The relationship will transition from traditional to tech-led business and enhance the prosperity of our people as a natural consequence. /BI/