Thought leadership:Sanjiv Mehta, MD and CEO of HUL expresses the significance of India’s comprehensive economic partnership agreement with UAE
He also expressed his views on rising inflation.
India has signed a comprehensive economic partnership agreement (CEPA) with UAE to encourage bilateral trade at the ongoing expo in Dubai. This agreement has significance for both countries.
Sanjiv Mehta, MD & CEO of Hindustan Unilever Ltd (HUL) expressed his views on this important agreement. He said that both the countries are natural trading partners.
For UAE, it is the first CEPA signed with any country, and it’s positive news that India is the first country to enter into an agreement. Sanjiv Mehta feels that there are two important benefits of this agreement. The first is that the existing trade relations will be further strengthened. Second is the whitening of the business i.e getting into new sectors.
He also feels that for UAE would be a gateway for India to explore west Asia and Africa. He also believes that both countries can partner to build a new-age economy whether it is fintech, edtech, greentech or health tech, sustainability and startups. Sanjiv Mehta mentioned that India has seen burgeoning startups and the efficient ecosystems needed to let it grow. And be it funding the startups or bringing markets for startups, this partnership is going to be crucial for both nations.
Talking about the current geopolitical situation and the inflationary pressures, he said that we have been seeing rising commodity prices even before the Ukraine-Russia war started. The pandemic and supply chain disruptions were some of the causes for it. But there is no denying that the tense geopolitical situation has exaggerated the prices of commodities, some of which are inputs for essential goods. And so, inflation and commodity prices have certainly become a cause for concern.
Start Investing Now!
Open Free Demat Account in 5 mins