- India has raised concerns over the surge in imports of silver products, platinum alloy, and dry dates from the UAE under the Free Trade Agreement (FTA), urging compliance with rules of origin norms to prevent circumvention.
- India has requested a review of certain FTA provisions due to the import surge.
- The UAE is India’s third-largest trading partner, with bilateral trade reaching $83.65 billion in 2023-24.
- India’s imports of gold and silver from the UAE jumped 210%, reaching $10.7 billion in 2023-24.
- India allows tariff concessions on imports of silver and a 1% concession on 160 metric tonnes of gold under the FTA.
- India requested that the Indian Jewellery Exposition Centre in Dubai be categorized as a Designated Zone for concessional duties to benefit domestic manufacturers.
- India highlighted the need for mutual recognition agreements for professionals like accountants, lawyers, and nurses to provide services without additional certification.
- The UAE agreed to examine India’s concerns and requests, including consultations with its internal stakeholders.
Dig Deeper: Read about India-UAE bilateral relations.
