New Delhi/Mumbai, Apr 10 (UNI) Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that the economic relations between Dubai and India are witnessing a strong upward trajectory on all fronts.
“This growth is accompanied by increasing trade and investment across both traditional and emerging sectors, under the guidance and support of the leadership,” he said on Wednesday evening, during an event held by Dubai Chambers in Mumbai.
Sheikh Hamdan also held talks with Commerce Minister Piyush Goyal in Mumbai.
The discussions focused on advancing cooperation across a wide spectrum of sectors that are pillars of the India-UAE economic relationship, including trade, energy, investment, manufacturing, logistics, technology and healthcare.
Sheikh Hamdan said, “India and the UAE share more than strong economic ties, we share a bold vision for the future. Our partnership is built on trust, innovation, and a common commitment to shaping resilient, forward-looking economies that advance prosperity and enhance the welfare of the people of the two countries. As we deepen our cooperation across a range of vital sectors, we are not only unlocking new opportunities for growth, innovation and excellence, but also creating a distinctive model of bilateral collaboration.”
The talks explored ways to build on the momentum generated by the Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT), two frameworks that have laid the foundation for a more open, secure, and investment-friendly economic relationship, WAM reported.
Both sides welcomed the steady growth in bilateral trade and reaffirmed their common commitment to fostering supply chain resilience.
Opportunities to expand investment flows and enhance commercial cooperation between the two economies were also discussed.
The two sides looked at ways to improve industrial collaboration and improve trade facilitation, including through enhanced logistics infrastructure and more closely linked digital trade platforms, to support mutual growth, economic engagement and investment. In addition, the two leaders discussed closer collaboration in digital infrastructure, payment systems, and smart logistics.
The two sides also discussed opportunities for cooperation in artificial intelligence, with a focus on harnessing emerging technologies to drive future-ready economies.
Sheikh Hamdan reaffirmed the UAE’s commitment to deepening bilateral economic ties to serve as a key driver of sustainable development and a contributor to broader global economic stability.
Non-oil trade between the UAE and India grew by 20.5% in 2024, reaching more than AED240 billion, compared to AED199.3 billion in 2023. This significant growth reflects strengthening economic ties and promising trade and investment opportunities.
The UAE-India CEPA, signed in 2022, aims to aim to take non-oil trade to $100 billion by 2030.
UNI RN