Context: The UAE is currently India’s third-largest trading partner and the second-largest export destination, after the US. While India is the UAE’s second-largest trading partner and the largest in terms of exports.

• India and the United Arab Emirates signed first free trade agreement finalised by the Narendra Modi-led government since it came to power in 2014. The deal was negotiated in a record 88 days and will come into force from May. It aims at increasing the non-oil trade between the two countries to $100 billion in five years from $45 billion 2021.