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CEPA a gamechanger in Indo-UAE relations, UAE to begin reducing tariffs on India’s goods by 90%

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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.

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Tata Motors Unveils Limited-Edition Safari STEALTH to Mark 27 Years of Legacy

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2 days ago

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February 21, 2025

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Tata Motors is celebrating 27 years of the Safari with the launch of the exclusive STEALTH Edition, a limited-run variant designed for those who seek style and performance. Available in both the Harrier and Safari models, only 2,700 units of this edition will be produced. The Harrier STEALTH is priced at Rs 25.09 lakh (ex-showroom, Delhi), while the Safari STEALTH starts at Rs 25.74 lakh (ex-showroom, Delhi) and is offered in both 6- and 7-seater configurations. With a striking design, premium features, and advanced technology, the STEALTH Edition adds a new level of exclusivity to Tata’s SUV lineup.

The Tata STEALTH Edition brings a bold, monotone design that reflects the growing demand for exclusive and distinctive vehicles. With limited units available, this special edition is set to attract enthusiasts looking for a unique SUV. Bookings for the STEALTH Edition opened on February 21, both online and at Tata dealerships across India, giving customers the chance to own a rare and stylish addition to Tata’s lineup.

The Harrier and Safari STEALTH Edition stand out with their bold design and advanced features, built on the sturdy OMEGARC platform derived from Land Rover’s D8 architecture. The exclusive Matte Black finish, R19 Black Alloy Wheels, and a distinctive STEALTH mascot give these SUVs a powerful road presence. Inside, the cabin is designed for comfort with ventilated first- and second-row seats (Safari only for the second row), a Carbon-Noir interior theme, and a voice-assisted dual-zone climate control system.

Technology is a highlight, featuring a 31.24 cm Harman touchscreen, Arcade App Store, Alexa Home 2 Car, Map My India navigation, and a 10-speaker JBL audio system with Harman AudioworX. Power comes from a 2.0L KRYOTEC BS6 Phase 2 turbocharged engine producing 170PS, paired with a 6-speed automatic transmission. Safety is a priority, with Level 2+ ADAS offering 21 functions, including a segment-first Intelligent Speed Assist, along with 7 airbags and ESP with 17 safety features.

Unveiling this exciting new version of the Harrier and Safari, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., stated, “Tata Motors has been a leader in the Indian SUV segment, with innovation at its core. The Tata Safari, which introduced the concept of a lifestyle SUV to India, reflects this legacy of pioneering excellence. Over 27 remarkable years, the Safari has constantly evolved, and the launch of the STEALTH Edition is a tribute to this journey. This special edition is an exclusive offering, with only 2,700 units available in the striking STEALTH Matte Black finish. More than just an SUV, the STEALTH Edition is a symbol of prestige, adventure, and capability, making it a highly desirable collector’s item for enthusiasts and connoisseurs. Owning a STEALTH Edition isn’t just about having an extraordinary vehicle—it’s about claiming a piece of automotive history that many will aspire to have in their collection.”

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Maruti Suzuki’s New Mid-Term Plan Aims To Make India An Export Hub, Launch More EVs

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3 days ago

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February 20, 2025

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New Delhi: The Suzuki Motor Corporation of Japan, the parent company of Maruti Suzuki India, on Thursday announced a new mid-term plan with a “rethink” in its strategy as “the business environment has changed due to declining market share in India” and the growing electrical vehicles segment.

In its new mid-term plan for 2025-30, the company has identified India as its “most important market”. Maruti Suzuki aims to create a manufacturing capacity of producing 4 million cars annually to reclaim a 50 per cent market share in India and use the country as a global export hub as well.

The auto major plans to expand its EV lineup starting with the e-Vitara, and is aiming to launch four new EV models by FY30 in a segment where its rivals like Tata Motors and Mahindra & Mahindra already have a varied EV portfolio in India.

“In India, we will promote further localisation in line with the growth of the electric vehicle market,” the company said.

Maruti Suzuki is currently exporting three lakh vehicles from India annually. By the end of this decade, it is targeting the export of 7.5-8 lakh units per year.

While the company noted it achieved revenue and profit targets ahead of schedule by improving sales mix and quality, its sales volume target could not be met.

It noted that the “competitive environment is becoming increasingly severe, and the quality of product functions, equipment and services required by customers is increasing”.

It aims to be India’s no.1 carmaker in terms of production, local sales and exports of electric cars. A total of six electric vehicles will be introduced by FY30, including four electric cars and two commercial vehicles.

Suzuki Motor plans to invest 1,200 billion yen (about Rs 7,000 crore) as capital expenditure towards production, new models, carbon neutrality and quality measures. A new plant in Haryana’s Kharkhoda and an assembly line in Suzuki Motor Gujarat will come onstream by 2030 for a total installed capacity of four million units.

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‘Made in India’ iPhone 6e not SE variant but a next-gen entry point for consumers

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February 20, 2025

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New Delhi, Feb 20: In a further push to the local manufacturing, the entire iPhone 16 lineup, including the newly-launched iPhone 16e, is now being assembled in India for domestic market as well as for exports, as industry experts on Thursday cleared the air around the new device being compared to now-retired iPhone SE.

The new Apple device, with A18 chip, breakthrough battery life, Apple Intelligence, and a 48MP 2-in-1 camera system, is being manufactured/assembled for local consumption as well as for export to select countries.

According to experts, iPhone 16e is not iPhone SE4 and the whole “comparison is futile”.

When iPhone SE was launched, it was another masterstroke at that time. However, times have changed since then.

“Essentially, Apple retired the SE lineup and extended the iPhone 16 lineup with a new entry point. iPhone SE was no longer adding any value to consumers, developers or Apple,” said Neil Shah, Partner and Co-Founder at Counterpoint Research.

The iPhone SE which was positioned as a “Special Edition,” which brought nostalgia of older and smaller design, was priced around $400.

However, the iPhone SE lost its value and popularity, which used to be once 16 per cent of the total iPhone sales volumes, dropped to 1 per cent last year.

According to Shah, consumers now prefer better cameras, bigger displays and faster processors.

“With all this background, what Apple did was to extend the 16 series with a newer ‘base version’ of iPhone 16 and now retired SE,” Shah explained.

According to industry experts, the company has done well with streamlining the series, reducing fragmentation in design and experience and able to charge $599 (US)/Rs 59,999 (India) with the newest entry point for the best Apple experiences.

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