India-UAE Strategic Partnership: 7 Powerful Reasons This $100 Billion Trade Goal Is Closer Than Ever!

At the Dubai-India Business Forum in Mumbai, Union Minister Piyush Goyal highlighted the growing strength of the India-UAE strategic partnership. He emphasized that both nations are on track to achieve their ambitious goal of $100 billion in non-oil trade, calling the Comprehensive Economic Partnership Agreement (CEPA) a major milestone. Goyal praised the UAE’s support in enhancing India’s connectivity with Africa and acknowledged DP World’s key role in modernizing India’s logistics sector. He also spoke about expanding academic ties, including plans to establish IIM and IIFT campuses in Dubai.

The minister expressed gratitude for the UAE’s care toward the Indian diaspora, especially during the COVID-19 crisis. Quoting Prime Minister Modi, he said India is transforming from a workforce to a “world force,” aiming to become the third-largest economy by 2027. Goyal encouraged deeper collaboration in high-growth sectors like green hydrogen, nuclear energy, fintech, and food security. He concluded with a call to action, urging businesses on both sides to seize the vast opportunities ahead.

India-UAE Strategic Partnership: 7 Powerful Reasons This $100 Billion Trade Goal Is Closer Than Ever!

Union Commerce and Industry Minister Piyush Goyal highlighted the strengthening partnership between India and the UAE during his speech at the Dubai-India Business Forum in Mumbai. He emphasized the progress made by both nations toward reaching their ambitious $100 billion target in non-oil trade, reflecting their strong commitment to expanding economic cooperation. The event, hosted by Dubai Chambers, was also attended by Dubai’s Crown Prince, Sheikh Hamdan bin Mohammed Al Maktoum, who is on an official visit to India.

Goyal described the Comprehensive Economic Partnership Agreement (CEPA), signed in 2022, as a transformative milestone in bilateral relations. He expressed confidence that the agreement would accelerate growth and broaden the scope of collaboration across various sectors. Since its implementation, non-oil trade has seen a notable rise, underscoring the agreement’s impact.

UAE: A Gateway for India’s Global Trade

The minister acknowledged the UAE’s crucial role in facilitating India’s trade expansion into African markets. He specifically commended DP World, a Dubai-based global logistics leader, for its significant investments in upgrading India’s port infrastructure and digital supply chains. These advancements have reinforced India’s position as a major player in global trade and logistics.

Education and Knowledge Sharing Take Center Stage

Goyal highlighted the deepening academic collaboration between the two countries. He pointed to the success of the Indian Institute of Technology (IIT) Delhi’s campus in Dubai, which has emerged as a center for innovation and research. Plans are underway to establish branches of the Indian Institute of Management (IIM) and the Indian Institute of Foreign Trade (IIFT) in the UAE, further strengthening educational ties. These efforts aim to promote skill development, entrepreneurship, and cross-cultural learning.

Gratitude for UAE’s Support During the Pandemic

The minister expressed heartfelt thanks to the UAE government for its generous support of the Indian community during the COVID-19 pandemic. With more than two million Indians residing in the UAE—the largest expatriate group in the country—Goyal emphasized the strong people-to-people bonds. He noted that this close-knit diaspora has played a vital role in fostering mutual trust and enhancing economic cooperation.

India’s Economic Ascent and Future Vision

Quoting Prime Minister Narendra Modi, Goyal stated, “India is not just a workforce; we are a world force,” highlighting the country’s rapid economic progress. He projected that India is on track to become the world’s fourth-largest economy by 2025 and the third-largest by 2027. By 2047, India aims to grow into a $30–35 trillion economy, driven by innovation, a young workforce, and forward-looking policies.

Roadmap for Future Collaboration

Goyal called for greater investments and partnerships in emerging sectors such as renewable energy, green hydrogen, fintech, critical minerals, food security, and advanced manufacturing. He urged companies from both nations to explore these areas, describing current progress as “just the beginning” of a much larger and long-term collaboration.

The minister also highlighted the importance of cooperation in nuclear energy, stressing its role in supporting India’s clean energy transition. He noted the potential for joint ventures in agriculture and food processing to address global food security challenges and boost sustainable development.

A Relationship Built on Mutual Trust

Both countries have prioritized creating a business-friendly environment, with the UAE emerging as one of India’s top investors. Recent reforms—such as streamlined regulations and the adoption of digital payment systems—have boosted investor confidence. Goyal reaffirmed India’s commitment to providing a welcoming ecosystem for UAE businesses, particularly in sectors like infrastructure, technology, and healthcare.

Sheikh Hamdan’s visit included meetings with Indian business leaders to identify new avenues for collaboration. The Crown Prince reiterated Dubai’s strong support for Indian enterprises seeking to expand in the Middle East, North Africa, and other global markets.

Conclusion: A Promising Horizon

Goyal’s address painted an optimistic picture of India-UAE relations, built on shared ambitions and complementary strengths. From trade and education to sustainability and innovation, the partnership is set to reach new milestones in global cooperation. As both nations work toward their $100 billion non-oil trade goal, businesses are encouraged to leverage this momentum and unlock the vast potential ahead.

The Dubai-India Business Forum concluded with a joint commitment to turn challenges into opportunities, ensuring that this strategic alliance continues to flourish in the years to come.