Abu Dhabi: India and the United Arab Emirates (UAE) have taken another major step in strengthening their fast-growing economic partnership, agreeing to expand cooperation in multiple sectors including space, maritime, and advanced technology. The announcement came after a high-level joint task force meeting in Abu Dhabi, where both sides reaffirmed their commitment to deepening trade and investment links.
India’s Commerce and Industry Minister Piyush Goyal confirmed that discussions are underway to extend India’s free trade agreements with more Gulf countries. He also announced progress on Bharat Mart, a massive 2.7 million square foot trading hub under construction in Jebel Ali Free Zone, which is set to become operational in 2027. The project has already attracted interest from more than 9,000 Indian companies.
The talks also highlighted the success of the Comprehensive Economic Partnership Agreement (CEPA), implemented in May 2022, which has already boosted bilateral trade significantly. Non-oil trade between India and the UAE reached nearly USD 38 billion in the first half of this year, a 34 percent increase compared to the same period last year. Officials emphasized that this growth reflects the strength of CEPA and the wider scope of India-UAE economic collaboration.
Both countries are also focusing on future-ready sectors. Investments in space technology, maritime infrastructure, and artificial intelligence were discussed as key areas of collaboration. The joint task force praised cooperation between the central banks of India and the UAE, which is paving the way for cross-border trade in local currencies — a move expected to further reduce costs and improve efficiency for businesses on both sides.
Sheikh Hamed bin Zayed Al Nahyan lauded the rapid pace of bilateral trade and investment, stressing the UAE’s position as a global commercial hub. India’s Ambassador to the UAE, Sunjay Sudhir, along with senior government officials and industry representatives from both countries, participated in the discussions. The task force, first established in 2013, continues to play a central role in shaping the strategic economic partnership.
With India ranked among the fastest-growing economies in the world and the UAE serving as one of the most dynamic trade gateways, the latest agreements mark an important milestone. As both nations push forward with new initiatives and joint ventures, the partnership is poised not only to strengthen regional ties but also to contribute to broader global economic growth.
