Economic relations between the UAE and India continue to grow rapidly, reflecting the strength of their historic ties and the impact of their Comprehensive Economic Partnership Agreement (CEPA), which has played a key role in driving growth and creating promising trade and investment opportunities.
This May marks the third anniversary of the CEPA coming into effect; the first agreement of its kind for the UAE under its global economic partnerships program and India’s first such agreement with a country in the Middle East and North Africa. The agreement aims to increase non-oil trade between the two nations to $100 billion annually by 2030.
The partnership has yielded tangible economic results. Non-oil trade between the UAE and India rose by 20.5% to exceed AED 240 billion in 2024, while India became the top destination for UAE non-oil exports, growing by a record 75.2%. Over 41,600 new Indian business licenses were issued in the UAE in 2024, bringing the total to more than 247,000.
India is also one of the UAE’s largest tourism markets, with over two million Indian visitors annually. Meanwhile, the number of UAE companies operating in India continues to grow, particularly in strategic and new economy sectors.
This strategic partnership has helped establish a strong economic foundation, paving the way for deeper business ties, SME growth, and entrepreneurship, driving sustainable economic development and shared prosperity for both nations.
Source: WAM