 to an impressive US$ 100 Billion.){kind=link}
Union Minister of Commerce & Industry, Piyush Goyal, announced today the ambitious goal of expanding bilateral trade between India and the United Arab Emirates (UAE) to an impressive US$ 100 Billion. This declaration was made during the ‘UAE India Business Summit’ at the 10th edition of the Vibrant Gujarat Global Summit, held in Gandhinagar, Gujarat.
Emphasizing the diverse nature of the India-UAE partnership, Goyal highlighted collaborations in space exploration, security, education, and climate action. He expressed that both nations are actively seeking innovative propositions from industry and business to further enhance their ties. Bilateral trade has experienced a significant increase under the India UAE Comprehensive Economic Partnership Agreement (CEPA).
Key collaborations, such as the India-Middle East-Europe economic corridor and initiatives promoting Rupay to facilitate direct trade between the Indian rupee and the UAE dirham, were underscored.
Minister Goyal expressed delight at the prospect of deepening bilateral relations, describing the UAE India Business Summit as a platform to unlock the vast potential inherent in the partnership. He commended the exceptional leadership of UAE President H.H. Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi for elevating the relationship between the two countries.
Envisioning the India-UAE partnership as a defining alliance of the 21st century, rooted in shared history and aspirations for mutual progress, Minister Goyal expressed gratitude to UAE Minister of State for Foreign Trade, H.E. Dr. Thani bin Ahmed Al Zeyoudi, and Chairman and CEO of DP World Group, Sultan Ahmed bin Sulayem, for their contributions to fostering enduring friendship.
Acknowledging pivotal roles in bolstering the UAE-India business relationship, Minister Goyal praised the efforts of leaders like Sultan Ahmed bin Sulayem and Yousuf Ali Abdulqader, Vice Chairman of the Abu Dhabi Chamber of Commerce. He specifically commended the UAE’s political stability, business-friendly policies, and infrastructural advancements as conducive factors for mutual growth and prosperity.
Highlighting India’s demographic advantage and its young, aspirational population, Minister Goyal invited investors to participate in India’s growth story, emphasizing the nation’s potential to offer substantial returns and contribute to the dreams and aspirations of its 1.4 billion people.