In a strategic summit in New Delhi, Prime Minister Narendra Modi and Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, committed to elevating India-UAE bilateral trade to $200 billion by 2032. This bold target, detailed in a joint communique, builds on the momentum from the 2022 CEPA, which has propelled trade to $100 billion in FY 2024-25.
The leaders reviewed fruitful outcomes from recent forums: the 13th Investment Task Force, 16th Joint Commission, and 5th Strategic Dialogue. They instructed teams to connect MSMEs via platforms such as India Mart, Virtual Trade Corridor, and India-Africa Bridge, targeting expanded market access in key regions.
Satisfaction was expressed over the 2024 Bilateral Investment Treaty enhancing cross-investments. Potential UAE involvement in Dholera’s special zone promises world-class infrastructure including airports, aviation training, MRO hubs, ports, smart cities, rails, and energy projects.
Modi extended an invitation to UAE funds for NIIF’s next infrastructure vehicle in 2026, citing the first fund’s triumphs. GIFT City’s rise as a financial powerhouse was boosted by DP World and FAB branches, facilitating Indian access to GCC and MENA opportunities.
Reinforcing food security, both sides pledged deeper collaboration on resilient supply chains, sustainable farming via PPPs, innovation, and expertise sharing. Energy partnerships shone with the HPCL-ADNOC Gas LNG pact for long-term supplies starting 2028.
Advanced nuclear tech cooperation was agreed upon, covering reactors, SMRs, operations, maintenance, and safety. Financial ties deepened with directives for interoperable payment systems to streamline transactions.
Space sector ambitions include a unified ecosystem for missions, services, employment, startups, and investments. AI, emerging tech, supercomputing, and data centers in India were prioritized for joint advancement.
This pact not only doubles down on economic goals but fortifies strategic alliances across energy, tech, and beyond, heralding prosperity for both nations.