New Delhi: Prime Minister Narendra Modi and UAE President Sheikh Mohammed bin Zayed Al Nahyan have set an ambitious target to double bilateral trade between India and the United Arab Emirates to 200 billion dollars by 2032. This was announced in a joint statement following their meeting on Monday.
The leaders welcomed the strong growth in trade and economic cooperation since signing the Comprehensive Economic Partnership Agreement (CEPA) in 2022. According to the statement, bilateral trade reached 100 billion dollars in the fiscal year 2024-25.
Strengthening MSME Links and Trade Initiatives
Both leaders supported the outcomes of the 13th High-Level Investment Task Force held in September 2025, the 16th India-UAE Joint Commission meeting in December 2025, and the 5th Strategic Dialogue. They directed their teams to enhance connections between micro, small, and medium enterprises (MSMEs) of both countries.
Key initiatives like ‘India Mart’, ‘Virtual Trade Corridor’, and ‘India-Africa Bridge’ were urged for early implementation to boost MSME products across the Middle East, West Asia, Africa, and Eurasia regions.
Investment and Infrastructure Collaboration
The leaders expressed satisfaction over the bilateral investment treaty signed in 2024, which has strengthened investment flows in various sectors. Discussions on potential UAE partnerships for developing the Special Investment Region in Dholera, Gujarat, were welcomed. The proposed partnership includes plans for an international airport, pilot training school, maintenance-repair-overhaul (MRO) facility, greenfield port, smart urban township, railway connectivity, and energy infrastructure.
Highlighting the success of the National Investment and Infrastructure Fund (NIIF), Prime Minister Modi invited UAE sovereign wealth funds to consider participating in the second infrastructure fund proposed for 2026.
The establishment of DP World and First Abu Dhabi Bank (FAB) branches in Gujarat International Finance Tec-City (GIFT City) was appreciated, marking GIFT City’s emergence as a major international financial centre. FAB’s GIFT City branch is expected to play a crucial role in connecting Indian companies and investors with the Gulf Cooperation Council (GCC), Middle East, and North African markets.
Cooperation in Food Security, Energy, Science, and Technology
Both sides reiterated their commitment to strengthening cooperation in food security, calling it strategically important for sustainable supply chains and long-term stability. They emphasised public-private partnerships, innovation, and knowledge exchange to promote sustainable agriculture and enhance national food security.
In the energy sector, the contribution of the UAE to India’s energy security was acknowledged. The leaders welcomed the signing of a 10-year LNG supply agreement between Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Gas, under which 0.5 million tonnes of LNG will be supplied annually from 2028.
The joint statement also mentioned the agreement to explore advanced nuclear technologies collaboration, including large nuclear reactors, small modular reactors (SMRs), advanced reactor systems, nuclear plant operations and maintenance, and nuclear safety cooperation.
Financial cooperation was praised, with leaders instructing efforts to link national payment platforms to make cross-border payments faster, cheaper, and more efficient.
Further, both nations agreed to deepen cooperation in the space sector. A joint initiative to promote commercialisation of space science and technology was welcomed, aiming to develop an integrated space ecosystem, enable joint India-UAE missions, expand global commercial services, create high-skilled jobs, support startups, and strengthen bilateral investment through sustainable business models.
They also decided to enhance collaboration in science, technology, and innovation, particularly in artificial intelligence (AI) and emerging technologies. The plan to establish a supercomputing cluster in India was welcomed, along with agreement to explore opportunities for data centre establishment in the country.
This comprehensive agenda underscores the robust and growing partnership between India and the UAE across multiple sectors, paving the way for deeper economic integration and strategic cooperation.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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