EXPLAINER
The story so far: On February 18, 2022, India and the United Arab Emirates (UAE) inked a trade pact, Comprehensive Economic Partnership Agreement (CEPA) during a virtual summit led by Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. The agreement came after a fast tracked three month negotiation between the Indian and the UAE teams. India has been part of global trade organisations like the WTO but this latest trade pact is unique and has broader implications.