Davos (Switzerland), January 22 : Founder of Lulu Mall, Yusuf Ali, stated that all Indian products can now enter duty-free and vice versa, owing to the signing of the Comprehensive Economic Partnership Agreement (CEPA) at the 56th Annual Meeting of the World Economic Forum (WEF) in Davos.
Speaking to ANI at the Business Summit, Ali said that the agreement will create effective trading opportunities for India worldwide, adding that it will benefit industries, agriculture and aviation as well.
"Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and other countries. In exchange, all Indian products can enter duty-free, and vice versa. CEPA will benefit Indian trade, industries, agriculture and the aviation industry," he stated.
Ali shed light on his meeting with Indian Chief Ministers at the summit and expressed optimism about investing in India.
"I am meeting with the Chief Ministers of different states here, and they are all very investor-friendly. I met the Gujarat Deputy Chief Minister, Uttar Pradesh Finance Minister, and others who support pro-investment policies. We will invest in India....I don't believe in MoUs. I only believe in agreements. We will sign agreements in India itself," he said.
Furthermore, Ali underscored the importance of domestic industries expressing confidence in the leaders for their protection.
"We have to protect domestic industries. Our thoughtful leaders will dictate according to it," he said.
Earlier on Wednesday, Union Minister Ashwini Vaishnaw shared that international investors are clearly calling India a "bright spot" during the ongoing summit in Switzerland. The Minister noted that the country's progress and democratic system have made it a top choice for those seeking a trusted place to invest in sustainable growth.
Discussing the outcomes of his investor meetings, Ashwini Vaishnaw said, "India is being seen today as a trusted value chain partner all over the world. In this turbulent, very difficult environment across the globe, marked by uncertainty, India is seen as a very stable, vibrant democracy and an economy with sustainable growth.
Revealing the feedback from various global panels, Union Minister further said, "The way meetings and discussions took place with investors here, in every panel, people were very clearly saying that India is a bright spot today."
Union Minister of Electronics and Information Technology, Ashwini Vaishnaw, on Wednesday said India will continue to grow at 6 to 8 per cent in real terms and 10 to 13 per cent in nominal terms over the next five years.
Speaking at the session on 'Bet on India - Bank on the Future' organised by Confederation of Indian Industry (CII) in association with EY, coinciding with the World Economic Forum (WEF) 2026 at Davos, Vaishnaw spoke of the government's efforts towards ease of doing business.
"India will continue to grow six to eight per cent in real terms and 10 to 13 per cent in nominal terms, supported by moderate inflation and strong growth," he said.