'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.
-  MONIKA YADAV
'Need to reassess concession on gold, silver imports under FTA with UAE'

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.

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