A Comprehensive Review of the Comprehensive Economic Partnership Agreement
Marking four years since the signing of the UAE–India Comprehensive Economic Partnership Agreement (CEPA), this report presents a detailed review of one of the most ambitious and transformative bilateral trade agreements in recent history. Since entering into force in May 2022, the CEPA has reshaped the economic relationship between the UAE and India, driving bilateral trade beyond the USD 100 billion milestone and establishing a new framework for long-term cooperation across trade, investment, services, innovation, and emerging technologies.
The report examines the structural impact of the CEPA on both economies, highlighting significant growth in non-oil trade, manufacturing, MSMEs, advanced industries, and cross-border investment flows. It explores how tariff liberalisation, digital trade provisions, and institutional mechanisms have accelerated market access, strengthened supply chains, and created new opportunities for businesses on both sides. Special focus is given to high-growth sectors including aerospace, energy, technology, logistics, and financial services, alongside landmark initiatives such as Bharat Mart, the UAE–India Start-Up Series, and strategic infrastructure partnerships.
Beyond economic indicators, the publication reflects on the broader strategic vision underpinning the agreement. It outlines how the UAE and India are increasingly collaborating on artificial intelligence, digital trade, clean energy, education, and space technologies, positioning the partnership as a future-oriented model for global economic cooperation. Through insights into governance structures, investment pipelines, and innovation ecosystems, the report reinforces the CEPA’s role not merely as a trade agreement, but as a platform for deeper economic integration, institutional collaboration, and sustainable growth between the two nations as they work toward the shared target of USD 200 billion in bilateral trade by 2032.
