NewKerala.com

Key Points

India and UAE have seen remarkable trade growth under the CEPA agreement. Commerce Minister Piyush Goyal is co-chairing high-level meetings with UAE leadership to build on this success. Both nations are exploring new investment opportunities in space and maritime sectors. The partnership continues to expand across technology, defense, and food security collaborations.

Key Points: India UAE Trade Doubles Under CEPA as Goyal Meets Sheikh Hamed

  • Trade doubled to $83.7 billion since CEPA implementation in 2022
  • Shift toward non-oil sectors driving bilateral economic growth
  • High-level meetings on space, maritime and investment treaties
  • UAE remains one of India's most important strategic partners
2 min read

Bilateral trade doubles under CEPA; India, UAE eye next growth leap

Bilateral trade surged to $83.7 billion under CEPA. Piyush Goyal co-chairs high-level task force with UAE leaders to explore next growth phase in space, maritime & investments.

"Bilateral merchandise trade has nearly doubled from USD 43.3 bn in FY21 to USD 83.7 bn in FY24 - Commerce Ministry"

By Naveen Kapoor, Abu Dhabi, September 18

Union Commerce & Industry Minister Piyush Goyal is in the UAE for a two-day visit to co-chair the 13th India-UAE High-Level Task Force on Investments (HLTFI) with H.H. Sheikh Hamed bin Zayed Al Nahyan.

The meeting will review the Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and central bank cooperation, while exploring new investments in space, maritime, and other high-potential sectors.

Since CEPA came into force in May 2022, bilateral merchandise trade has nearly doubled from USD 43.3 bn in FY21 to USD 83.7 bn in FY24, with a strong shift toward non-oil sectors, according to the Commerce Ministry.

Goyal will also co-chair the UAE-India Business Council roundtable with UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, engaging CEOs of top Indian and Emirati companies.

High-level meetings are scheduled with Sheikh Tahnoun bin Zayed Al Nahyan (UAE NSA & IHC Chairman), Ahmed Jasim Al Zaabi , and Syed Basar Shueb (IHC), among others.

Established in 2013, the HLTFI has become a key platform to resolve investor issues and deepen economic ties. The 12th edition, held in Mumbai (Oct 2024), ratified the Bilateral Investment Treaty signed during PM Modi's UAE visit in Feb 2024.

The India-UAE Comprehensive Strategic Partnership continues to expand across trade, technology, energy, defence, and food security, with both sides now pushing for the next growth leap.

UAE remains one of India's most important strategic partners. Their Comprehensive Strategic Partnership is underpinned by deep political engagement, robust economic integration, and collaboration across energy, defence, technology, and food security.

Earlier the UAE-India Comprehensive Economic Partnership Agreement (CEPA) Council launched the Start-up Series which attracted applications from more than 10,000 Indian entrepreneurs in just 50 days, highlighting the programme's role in accelerating the globalisation of homegrown Indian ventures.

- ANI

Share this article:

Reader Comments

P
Priya S
The shift toward non-oil sectors is the real story here. We need to move beyond traditional trade and focus on technology, space, and innovation. Great to see our startups getting opportunities through the CEPA Council!
M
Michael C
As someone working in the export sector, I've seen firsthand how CEPA has simplified processes and reduced tariffs. Our company's exports to UAE have increased by 40% since the agreement. Hope this momentum continues!
A
Ananya R
While the numbers are impressive, I hope small and medium enterprises are also benefiting equally. Sometimes these agreements favor big corporations. Would love to see more support for MSMEs in such partnerships.
S
Siddharth J
The focus on space and maritime cooperation is exciting! UAE has advanced space programs and India has ISRO's expertise. This could be a game-changer for both countries' technological advancement.
N
Nisha Z
10,000 startup applications in 50 days! That's incredible enthusiasm. The UAE market offers great opportunities for Indian entrepreneurs to scale globally. Hope many of these startups succeed and create jobs back home.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50