Today: 7 October 2025
25 September 2024
2 mins read

‘India-UAE trade set to surpass $100b target before 2030’

The UAE remains India’s third-largest trading partner and second-largest export destination (FY2022-23)…reports Asian Lite News

The bilateral trade between India and the United Arab Emirates (UAE) is on track to surpass the $100 billion target well before 2030, underscored by a notable 12.7 per cent (year-on-year) increase, according to a report on Tuesday.

The UAE remains India’s third-largest trading partner and second-largest export destination (FY2022-23).

According to a report by Primus Partners, Bilateral trade reached $85 billion in FY 2022-23 and is expected to cross the 2030 target of $100 billion well before the expected timeline.

The India-UAE economic relationship strengthened with the recent visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, to India. The two countries signed five MoUs, following the meeting between Prime Minister Narendra Modi and the Crown Prince.

The India-UAE trade relations are entering a new era, driven by structural reforms like 2022 Comprehensive Economic Partnership Agreement (CEPA) that have dismantled long-standing barriers.

“This shows how this trade growth is not only strengthening existing sectors like gems, jewellery, and IT but is also paving the way for emerging industries such as green energy and food security,” said Nilaya Varma, CEO and Co-founder of Primus Partners.

Both countries lead the path for key collaborative ventures, including the India-Middle East-Europe Economic Corridor (IMEEC) as well as the India-Israel-UAE-US (I2U2) coalition.

The India-UAE economic relationship is set to be further cemented with initiatives like the implementation of a master dashboard to oversee critical infrastructure projects; establishment of a bilateral e-commerce marketplace for goods and services, potentially leveraging India’s Open Network for Digital Commerce (ONDC) model and creation of an online digital repository highlighting investable projects in identified strategic sectors,

Nader Haffar, Director of Primus Partners UAE, said that the bilateral relationship has evolved into a multifaceted partnership that is reshaping the future of regional and global trade.

“This synergy between two of the world’s fastest-growing economies is creating new opportunities, fostering innovation, and building a foundation for long-term prosperity that could serve as a global model for emerging market partnerships,” Haffar added.

Gems and jewellery, traditionally a cornerstone of trade, have seen increased activity under the CEPA. The metals, stones, gems, and jewellery sector is among India’s key exports to the UAE.

Additionally, India’s agricultural exports to the UAE, including cereals, sugar, fruits, vegetables, and tea, contribute significantly to the trade basket, helping to address the UAE’s food security objectives.

ALSO READ: UAE President visits National Children’s Hospital in Washington

Previous Story

UAE President visits National Children’s Hospital in Washington

Next Story

UAE, US sign deal to boost customs cooperation

Latest from -Top News

OCTOBER 7: Stop the Violence Now, Says Guterres

Guterres recalled that “the attackers brutally killed more than 1,250 Israelis and foreign nationals….reports Asian Lite News UN Secretary-General Antonio Guterres urged an immediate halt to the violence in Gaza, Israel, and

Piyush Goyal Heads to Doha for Trade Talks

During the visit, both sides are expected to discuss the proposed India–Qatar Free Trade Agreement (FTA)….reports Asian Lite News Union Commerce and Industry Minister Piyush Goyal will travel to Doha, Qatar, on

Hamas Heads to Egypt for Gaza Talks

The negotiation will focus on the details of enacting the first phase of the plan…reports Asian Lite News A delegation from the Palestinian group Hamas arrived in Egypt on Sunday ahead of

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with
Go toTop

Don't Miss

‘1.14 Lakh Startups Fuel Job Creation’

The state-owned e-commerce platform Open Network for Digital Commerce (ONDC)

UAE sees 32% growth in green, sustainable finance

An impressive US$24.55 billion in green and sustainable finance was