The India-UAE free trade agreement is expected to cover more than 1,000 products across sectors.
Senior commerce ministry officials said the Union cabinet is likely to vet the deal as soon as the negotiations between the sides come to a fruitful end.
If the Modi government clears the trade deal, it would be the first free trade agreement to be signed by India after a decade.
Exports from India that could benefit from the pact include textiles, gem & jewellery, petroleum products, engineering & machinery products and chemicals.
The gains will, however, be limited as the import duties on most goods are at 5 per cent in the UAE. Read More.