India–UAE Comprehensive Economic Partnership Agreement (CEPA)

India aims to be a US$5 trillion economy by FY2027. To achieve this ambitious target, the country must enact reforms and initiatives that drive trade, strengthen investor confidence, and enhance the economy’s competitiveness. Growth has to be broad-based with contributions coming from each sector and industry and investments from the government, the private sector, and foreign investors.

The role of international investment and trade in accelerating India’s growth prospects is likely to be of immense importance. Foreign capital must form an integral part of the growth model as domestic savings may not suffice to meet investment needs. Besides, it also brings in knowledge and best practices that improve efficiency and productivity. Trade creates a virtuous circle in income and employment and the government believes export’s share in GDP must rise to at least 20 percent for India to become a US$5 trillion economy.