India's exports to the UAE rose by 17.6 per cent to about USD 18 billion during April-October this fiscal, according to the commerce ministry's data.
The free trade agreement was aimed at providing significant benefits to Indian as well as UAE businesses, including enhanced market access and reduced tariffs.
"though I cannot name any country or foreign bank that has shown interest in this, I am happy to inform you that we have received positive responses from at least four-five countries," RBI said.
A team consisting of both government and private sector representatives from India and UAE visited Kenya and Tanzania recently to identify opportunities for joint projects in the health sector.
India, UK end fifth round of FTA talks, deal likely to double bilateral trade to USD 100 billion by 2030
India will continue to work intensively towards its targets to conclude the talks by Diwali, said Nidhi Mani Tripathi, Joint Secretary Ministry of Commerce.
Bilateral talks on trade, defence & security, and more, were held between Spain’s foreign minister, Jose Manuel Albares, and External Affairs Minister, Dr Jaishankar.
Trade experts believe that the trend of increasing bilateral trade with the US will continue in the coming years also as New Delhi and Washington are engaged in further strengthening economic ties.
The meeting would be co-chaired by Commerce and Industry Minister Piyush Goyal and his Omani counterpart.
United Kingdom’s Prime Minister, Boris Johnson will be visiting India on April 21 and 22. This will be his first visit since he took office at Downing Street.
Commenting on this, Liu Zongyi, said, "The continuous rise in bilateral trade showed the complementarity of two major developing economies despite tension from global geopolitical changes."