- India aims to achieve exports worth $50 billion to the UAE by financial year 2026-27.
- India and the UAE are discussing ways to deepen cooperation in sectors such as energy, infrastructure, and technology.
- Bilateral trade between India and the UAE has grown significantly in recent years, with the UAE being one of India's largest trading partners.
India and the United Arab Emirates (UAE) are working together to boost bilateral trade, with India aiming to achieve exports worth $50 billion to the UAE by financial year 2026-27. During a recent visit by the Indian External Affairs Minister to the UAE, both countries discussed deepening cooperation in various sectors, such as energy, infrastructure, and technology.
In recent years, bilateral trade between India and the UAE has grown significantly, making India one of the UAE's largest trading partners. In the financial year 2020-21, bilateral trade between the two countries reached $30.24 billion, with India exporting goods worth $20.11 billion and importing goods worth $10.13 billion from the UAE.
The Indian government has been prioritizing the expansion of exports to boost the country's economy, and the UAE is considered a vital partner in this regard. The UAE has traditionally been a significant market for Indian goods, including textiles, engineering products, chemicals, and gems and jewellery.
Besides the traditional areas of cooperation, India and the UAE are also exploring new areas of partnership, such as renewable energy. India has set an ambitious target of achieving 450 GW of renewable energy capacity by 2030, and the UAE is keen to invest in this sector.
The visit by the Indian External Affairs Minister to the UAE is expected to strengthen the bilateral ties between the two countries, and pave the way for increased trade and investment. With both sides committed to deepening cooperation across various sectors, there is a great potential for a further boost in bilateral trade between India and the UAE.