India, UAE Target $200 Billion Trade by 2032, Deepen Ties

India and the United Arab Emirates have agreed to significantly deepen their Comprehensive Strategic Partnership, setting an ambitious target of doubling bilateral trade to USD 200 billion by 2032. The decision was taken during wide-ranging talks between Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan in New Delhi on Monday.

Sheikh Mohamed’s visit, his fifth to India in the last decade and third since assuming the presidency, underscored the growing importance both nations attach to their relationship. The leaders reviewed cooperation across political, economic, strategic and people-to-people domains and expressed satisfaction at the steady expansion of ties. They noted that bilateral trade has grown rapidly since the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2022, reaching USD 100 billion in FY 2024–25.

To accelerate economic engagement, both sides agreed to enhance cooperation among Micro, Small and Medium Enterprises (MSMEs). They called for early implementation of initiatives such as Bharat Mart, the Virtual Trade Corridor and Bharat-Africa Setu to help Indian MSME products access markets across West Asia, Africa and Eurasia.

Investment cooperation was another focus area. The leaders welcomed progress under the Bilateral Investment Treaty signed in 2024 and discussed potential UAE participation in developing the Special Investment Region at Dholera in Gujarat. This could include infrastructure such as an international airport, greenfield port, smart township, rail connectivity and energy facilities. PM Modi also invited UAE sovereign wealth funds to invest in the second National Infrastructure Investment Fund, scheduled for launch in 2026.

Energy cooperation featured prominently, with both sides welcoming a 10-year LNG supply agreement between HPCL and ADNOC Gas starting in 2028. They also agreed to explore collaboration in advanced nuclear technologies, including Small Modular Reactors.

The two leaders agreed to expand cooperation in science and technology, particularly in artificial intelligence, supercomputing and data centres, and discussed the concept of “Digital Embassies.” Space cooperation, defence ties and counter-terrorism collaboration were reaffirmed, including a zero-tolerance approach to terrorism.

Cultural, educational and youth exchanges were also encouraged, with plans for a ‘House of India’ in Abu Dhabi. Both leaders reaffirmed their shared commitment to regional stability and multilateral cooperation, reflecting the deep trust underpinning India-UAE relations.