India, UAE target $100 billion non-oil trade by 2030

India and the UAE on Monday set a target to increase the non-oil trade from USD 48 billion to USD 100 billion by 2030.

The goal to achieve USD 100 billion non-oil trade was set in the first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA). The agreement was implemented on May 1 last year.

"We have a mutually agreed (for a) target of USD 100 billion bilateral trade by 2030," Commerce and Industry Minister Piyush Goyal told reporters after the meeting. The target of USD 100 billion will not include the oil trade.

It was also agreed to set up certain sub-committees and councils. In the meeting, it was also decided to set up a new sub-committee to handle issues related to services trade.

Goyal said that an India-UAE CEPA council will be set up to further facilitate the implementation of the agreement.

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