Trade agreements with Australia, UAE to help boost exports, says EPCs
Various export promotion councils (EPCs) on Wednesday lauded the trade agreements signed by India with the UAE and Australia, saying the pacts will help the country in boosting exports by granting preferential access to those markets for Indian products.
Engineering Exports Promotion Council (EEPC) said that the country has benefited from preferential market access provided by the UAE on over 97 per cent of its tariff lines which account for 99 per cent of Indian exports to the region in value terms.
Eastern regional chairman of EEPC, B D Agarwal, said at an interactive session here that this trend has emerged after signing of the IndiaUAE Comprehensive Economic Partnership Agreement (CEPA) which became effective from May one, 2022.
The India-Australia Economic Cooperation and Trade Agreement (ECTA), which will come into force from December 29, is expected to create 10 lakh jobs, and raise Indian merchandise exports to Australia by USD 10 billion, he said.
According to him, the ECT