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'Need to reassess concession on gold, silver imports under FTA with UAE'
The New Indian Express
|June 18, 2024
INDIA needs to reassess tariff concession on gold and silver imports from the United Arab Emirates (UAE) under its India-UAE Comprehensive Economic Partnership Agreement (CEPA), as the massive surge in imports is adversely impacting current account deficit of the country, according to a recent report by Delhi-based think tank GTRI.
The report highlighted concerns about revenue loss and trade imbalances resulting from the current tariff differentials. India's total imports from the UAE fell by 9.8% from $53.2 billion in FY23 to $48.0 billion in FY24.
However, imports of gold and silver saw a significant increase of 210%, rising from $3.5 billion to $10.7 billion during the same period.
Cette histoire est tirée de l'édition June 18, 2024 de The New Indian Express.
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