India and the United Arab Emirates (UAE) have held high-level discussions to boost trade and investment across infrastructure, energy, and technology, reaffirming their shared vision of deepening bilateral economic cooperation, reported tribuneindia.com.
Union Commerce and Industry Minister Piyush Goyal, after meeting UAE’s Minister of Foreign Trade Dr. Thani Al Zeyoudi, said both nations are committed to unlocking new avenues of growth through strategic collaboration.
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The talks come as the India-UAE Comprehensive Economic Partnership Agreement (CEPA), signed in February 2022, marks three years
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Since its signing, bilateral merchandise trade has nearly doubled—from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in 2023-24
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In FY 2024-25 (till January), trade already reached USD 80.5 billion, showing strong momentum
Non-oil trade has been a standout success, rising to USD 57.8 billion in FY 2023-24, more than half of the total trade. This progress aligns with the joint target of achieving USD 100 billion in non-oil trade by 2030.
India has leveraged CEPA effectively, with nearly 2,40,000 Certificates of Origin issued since its implementation, enabling exports worth USD 19.87 billion to the UAE. Non-oil exports alone surged to USD 27.4 billion in FY 2023-24, registering an average growth of 25.6%.
Key drivers of growth include electrical machinery, light and medium-high technology goods such as boilers and generators, and chemicals, besides traditional exports like gems, jewellery, and refined crude oil products. Smartphones have emerged as a leading export item, with shipments worth USD 2.57 billion sent to the UAE in FY 2023-24.
Beyond trade, the CEPA has empowered MSMEs, created jobs, and opened fresh business opportunities, strengthening economic diplomacy between the two countries. In July, India and the UAE also reaffirmed defence cooperation during the 13th Joint Defence Cooperation Committee meeting, further cementing the strategic partnership.
