‘India-UAE Economic Partnership major milestone in history of both nations’ - India Narrative

The United Arab Emirates (UAE) has described its economic partnership with India as a significant milestone in the history of both nations. The UAE's Minister of State for Foreign Trade, Dr Thani Al Zeyoudi, said that the non-oil trade between the two countries is expected to reach $100 billion annually by 2030. The Comprehensive Economic Partnership Agreement (CEPA) signed between India and UAE is aimed at boosting bilateral non-oil trade by removing barriers and opening up investment opportunities. The agreement has already led to an increase in bilateral trade flows and the development of new trade corridors connecting Asia with the Middle East and Africa. The UAE also witnessed significant investment in various sectors in India, including retail, industry, food security, technology, healthcare, and logistics. The bilateral trade between India and UAE has increased from $72.9 billion in April 2021-March 2022 to $84.5 billion in April 2022-March 2023. The UAE expects trade and investment with India to continue growing in the coming years.

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