First Consignment under India-UAE CEPA Flagged-off With Fanfare
BVC Logistics delivered the first consignment that left India to reach Dubai under the recently signed CEPA agreement flagged off by none other than Commerce Secretary B.V.R Subrahmanyam in the presence of other dignitaries. This fist consignment was the first among three to leave Delhi for Dubai where would be getting a zero duty access to the UAE market. The consignment was handed over to representatives of Malabar Gold and Diamonds by Khalfan Al Kaeibi, Head of Customs, Dubai Airport Free Zone Authority.
The Comprehensive Economic Partnership Agreement, between Indian and UAE came into force at the most opportune time for the Indian gems and jewellery industry as it looks to bounce back after two years of the pandemic and its after effects. The CEPA will support the gems and jewellery industry to increase bilateral trade between UAE and India to the tune of $10 billion annually. The sector looks to positively reach its target of $52 billion with the UAE by March 2023. The CEPA with UAE will help boost India’s overall exports to the Gulf region and is a significant step to achieve the $5 trillion economy vision. Bhavik Chinai, Group CEO, BVC Logistics said, “We’re delighted to be the facilitators of a historic consignment shipped from New Delhi to Dubai as part of the CEPA for our client Malabar Gold and Diamonds. We give our heartiest congratulations to our industry and the Government of India for its successful execution of this policy. Team BVC is creating customised secure logistics solutions for businesses of all sizes to leverage this policy.”