Business
CEPA a gamechanger in Indo-UAE relations, UAE to begin reducing tariffs on India’s goods by 90%
Implementation of a Comprehensive Economic Partnership Agreement (CEPA) signed between India and the UAE on February 18, came into force on May 1 with the arrival of the first imports exempted from tariffs. CEPA between the two countries would help encourage trade by reducing custom tariffs by 90 percent and increase non-oil trade from US$45 billion at the end of 2021 to US$100 billion annually in the next five years.
The UAE chose India to sign the first CEPA, which underscores the strategic ties between the two countries. Since the launch of the CEPA programme as part of the ‘Projects of the 50’ initiative, the UAE began talks to sign CEPAs with several countries of strategic importance both regionally and internationally, aiming to sign eight agreements in 2022.
On the annual growth of the trade exchange between the two countries and their targets over the next five years, Abdullah bin Touq Al Marri, Minister of Economy, said the CEPA between the UAE and India will intensify their bilateral trade and add 1.7 per cent, or US$9 billion, to the UAE’s GDP by 2030, increase the UAE’s exports by 1.5 per cent and its imports by 3.8 per cent by 2030. It will also create some 140,000 jobs for talented people and those with specialist skills in the most promising sectors of the UAE economy by 2030.
On the new areas of cooperation, CEPA offers many advantages, including reducing and cancelling tariffs, widening access to markets, and creating opportunities in vital areas, such as aviation, environment, hospitality, logistics, investment, construction, financial services, and digital trade.
The CEPA will offer numerous advantages for small and medium-sized enterprises (SME) in the private sectors of both countries. It represents a historically strategic step to promote economic integration and cooperation between the two countries and establish a solid foundation that will open new horizons between their business communities.
The CEPA will also open access to different markets and create new investments and opportunities in critical areas, including energy, environment, and digital trade. The agreement covers 11 service sectors and more than 100 sub-sectors, including business services, professional services, accounting, real estate, advertising, communications, building and construction, related services, educational services, environmental services, financial services, insurance, social and health services, and travel and tourism service.
India is the UAE’s largest trading partner in terms of non-oil exports, equivalent to 14 percent of the country’s total global exports, while the UAE is also India’s third-largest trading partner and accounts for 40 percent of its trade with Arab countries.
The most prominent commodities exported from the UAE to India and the commodities imported from India are mainly gold, diamonds and jewellery, machinery, electrical appliances, petroleum and plastics, and minerals that include iron, steel, and aluminium. The two countries account for more than 16 per cent of the global trade in diamonds, gold and jewellery, and the other country accounts for 20 per cent of their national gold trade.
The figures show that three percent of the UAE’s trade during the Covid-19 pandemic was with India, which is among the 15 most important exporters of food commodities in the world, and the UAE is among the most important recipients of its exports from this commodity group, coming in third place.
India is ranked second in terms of the UAE’s total trade in food commodities and products, and is one of most important suppliers in the UAE’s food commodities market, contributing 10 per cent of the UAE’s total imports of food commodities and products.
Talking to IANS, Chandu Siroya, V.P. Dubai Gold and JwellaryGroup, who received the first consignment under CEPA said that the Government of India made a special effort to send the shipment on the first day of CEPA by clearing and sending the shipment on March 5, 2022. Assisted by the Dubai Customs office in the whole process and the shipment was cleared in 15 Minutes Duty Free. The customs assisted us in getting the approval code from Dubai Trade for the exemption. The declaration was done online, and the approval was received instantaneously. It was a very fast seamless process. Kudos to the authorities for doing this under a brand-new agreement.
Dr. Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcare said that I am delighted to see the strategic ties between UAE and India gaining momentum, and with the Comprehensive Economic Partnership Agreement (CEPA), many corridors for trade, investment, services and employment will open up reciprocally. The UAE has been second home for over 3.4 million Indians and India’s largest trade partner for many years. The leaders of both countries share an amicable bond and this is just another step towards strengthening ties and the relationship between the two countries. With this agreement, we can expect the business between the two countries to increase exponentially.
Paras Shahdadpuri, Chairman, Nikai Group of Companies said that CEPA � Comprehensive Economic Partnership Agreement, will give a powerful thrust to the bilateral economic relationship. CEPA is equivalent to the FTA which was originally under negotiations between India and GCC which however was taking longer time to conclude. Therefore, the CEPA between the two countries. This will enhance the trade and economic activity between the two countries with manufactured goods of the two countries being imported without incurring any custom duties.
Kamal Vachani, Group Director and Partner at Al Maya Group commented on CEPA that The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE is truly a matter of significant importance in the context of its growing economic ties between the two countries. Trade between India and the UAE has always been an important factor in driving economic partnership. India is among the top three trading partners of the UAE and the signing of a new free trade agreement between both the countries will take the trade to the next level. Specially the trading groups like us, who are catering and trading between both countries are going to get its benefits at every step.
Business
India should remain vigilant after Myanmar’s crackdown on cyber scam hubs

New Delhi, Oct 25: Amid the massive crackdown on cybercriminals in Myanmar, India needs to remain vigilant about numerous cyber scam centres in China-Myanmar border areas that target its citizens, according to a report.
The scam hubs in Kayin State, the Wa region, and the China-Myanmar border areas, where the central government’s reach is limited, lure victims with fake online job postings, confiscate passports, and force them to conduct fraudulent cryptocurrency and romance scams targeting victims worldwide, according to the report in India Narrative
“New Delhi, Beijing, and Bangkok have all demanded that Naypyidaw take action after hundreds of their citizens were trafficked into scam operations,” the report mentioned.
According to reports, a statement by Myanmar’s military information ministry said its forces had “cleared” KK Park, a synonymous with online fraud, money laundering and human trafficking for the past five years.
More than 2,000 people were detained, and around 30 Starlink satellite terminals used to maintain communications networks for scam operations were seized.
For India, these cyber hubs have become a mounting concern.
In March this year, the Ministry of External Affairs confirmed that almost 300 nationals had been rescued from cyber-scam compounds in Southeast Asia, including in Myanmar. According to reports, up to 540 individuals were repatriated in a subsequent phase via Thailand.
Notably, a hybrid form of governance, blending armed-group control, corruption, and foreign criminal investment, has turned Kayin State into a cybercrime haven.
“For the Myanmar junta, the KK Park raid signals to neighbouring countries that it can enforce border security and control hybrid criminal-militia activities,” the report noted.
However, the challenges remain as the networks behind these compounds are deeply embedded in cross-border trafficking and crypto-fraud.
According to media reports, more than 5,400 Chinese suspects involved in telecom fraud in Myawaddy, Myanmar, have been repatriated in a joint crackdown on cross-border telecom fraud launched by China, Myanmar, and Thailand since the beginning of 2025.
Business
Gold records first weekly loss after nine-week surge

New Delhi, Oct 24: Gold ended a nine-week winning streak this week, with a sharp correction as the market reassessed a rally that had pushed prices into overbought territory.
The price of 24-carat gold (10 grams) ended at Rs 1,22,419 on Friday, down from Rs 1,23,827 from its previous close, according to data published by the India Bullion and Jewellers Association (IBJA).
Spot gold fell 0.3 per cent to close at $4,113.05 an ounce in New York, resulting in a weekly loss of approximately 3.3 per cent.
The price for 10 grams of bullion closed last week at Rs 1,30,874, and the price had been declining throughout the week. Analysts said that the pullback was sharp, but the yellow metal pared losses on Friday due to a weaker-than-expected U.S. inflation report, which bolstered expectations for further monetary easing by the Federal Reserve.
This development also led to a slight decline in bond yields and an increase in bullion prices. Traders anticipate two rate cuts before year-end, a scenario that bolstered gold prices.
Investors also assessed the potential for improved US-China relations as US President Donald Trump and his Chinese counterpart Xi Jinping prepare for their upcoming meeting. There are forecasts that a de-escalation of trade tensions may lessen demand for safe-haven assets like gold.
A recent correction occurred after a strong rally that started in mid-August, which saw prices reach an all-time high of $4,381.52 an ounce on Monday. Profit-taking and significant outflows from gold-backed ETFs intensified the selling pressure.
Gold is up by 57 per cent this year, driven by central-bank purchases, dovish signals from the US Federal Reserve and strong ETF inflows.
Earlier this week, a Ventura Securities report said that gold has generated returns of approximately 63 per cent in rupee terms since last Dhanteras, and a possible rally towards Rs.1.5 lakh per 10 grams is possible by 2026.
Business
Apple’s first foldable iPhone in late 2026 set to redefine experiences

New Delhi, Oct 25: Apple’s foldable, expected around late 2026, could redefine consumer expectations and push foldables into a new mainstream adoption phase, according to a new report.
The biggest structural shift is expected in late 2026, when Apple’s first foldable iPhone is expected to debut.
According to the Counterpoint Research report, Apple’s entry would instantly expand consumer awareness and accelerate replacement demand across high-income segments.
Given Apple’s ecosystem influence, its launch year could dramatically reshape brand dynamics, lifting total market volumes.
The report predicts the US foldable smartphone market to grow 68 per cent (on-year) in 2025, as it enters a period of solid growth after several years of experimentation.
The growth is being driven by broader form factor adoption, improved durability of foldable designs and more diversified portfolios from multiple brands.
This year, portfolio expansion and ecosystem readiness are defining the market.
Samsung is set to maintain its leadership with the refreshed Galaxy Z Fold and Flip lineup, having added an FE variant to broaden accessibility, while also preparing to unveil its long-awaited tri-fold device later in the year.
Meanwhile, Motorola is rapidly scaling its Razr series through wider carrier partnerships in the prepaid market, narrowing the share gap with Samsung faster than in prior cycles.
According to the report, Google’s Pixel 10 Pro Fold, launched in October 2025, sits between Samsung’s premium offerings and Motorola’s lifestyle-driven designs, testing how effectively the brand can turn its AI-first Android experiences into tangible hardware differentiation.
Liz Lee, Associate Director at Counterpoint Research said that while Samsung continues to lead in maturity and ecosystem strength in 2025, Motorola’s rapid expansion in the clamshell segment and Google’s AI-driven approach are reshaping competition.
Apple’s eventual arrival in 2026 will not only expand the market but also cement foldables as a mainstream premium smartphone format, Lee mentioned.
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