India’s trade with the United Arab Emirates (UAE) has grown 7.1 percent per annum after the Comprehensive Economic Partnership Agreement came into force on May 1, 2022. During the period, India’s global trade expanded 3.8 percent. Despite the increase, the nature of trade has barely changed. Oil, gems and jewellery account for nearly half of India’s exports and around 80 percent of imports from the UAE.

As the countries mull a review of CEPA, Moneycontrol explains India-UAE’s trade in five charts:

India-UAE trade nears $100 billion

With growth being witnessed post-CEPA

Exports are catching up fast since CEPA

But trade is still oil-dependent

But there is some diversification too