Skip to content Skip to Search
Skip navigation

UAE and India on track to hit $100bn non-oil trade

A view of Jebel Ali Port. Trade between the UAE and India rose from $72.9 billion to $84.5 billion between 2021 and 2023 Wam
A view of Jebel Ali Port. Trade between the UAE and India rose from $72.9 billion to $84.5 billion between 2021 and 2023

The UAE and India will surpass the $100 billion non-oil trade target by 2030, with increasing aviation links between the two countries seen as a potential catalyst.

Bilateral trade increased by 15 percent since the comprehensive economic partnership agreement (Cepa) was implemented in May 2022, the Indian government-owned Press Trust of India reported, quoting Cepa council director Ahmed Aljneibi.

Trade between the UAE and India rose from $73 billion to $84 billion between 2021 and 2023.



In addition, the Gulf state’s foreign direct investment in India increased to $3.3 billion last year.

Aljneibi said partnerships in fintech, edtech, healthtech and cleantech are likely to propel the next phase of the UAE-India’s shared growth story.

The official said there is great potential to improve air transportation and air cargo links between the two countries, citing relatively low bilateral seat capacity arrangements between the UAE and Indian airlines. 

Currently, seat-sharing capacity stands at 134,000 passengers per week and cargo capacity is at 4,000 tonnes per week.

Aljneibi expected both the UAE and Indian carriers to be able to fully benefit from the strategic partnership, which has evolved since the signing of the Cepa.

Latest articles

Taqa reported that revenues rose 5 percent year on year in Q1 thanks to a contribution from SWS Holding

Profit at Abu Dhabi’s Taqa falls 82% on one-off items

Net profit at Abu Dhabi National Energy Company (Taqa) dropped 82 percent to AED2.1 billion ($572 million) in the first quarter of 2024, from AED11.6 billion a year ago. Taqa’s fall in profit was attributed to one-off items recognised in 2023. Net income at Taqa, excluding the one-off items, increased by AED100 million, 6.9 percent […]

Turkey's economic growth is projected at 3 percent in 2025

EBRD lowers Turkey’s 2024 growth rate

The European Bank for Reconstruction and Development (EBRD) has lowered Turkey’s economic growth forecast to 2.7 percent from 3 percent for 2024, due to rising inflation. However, a recovery is anticipated next year, with growth projected at 3 percent, driven by potential monetary and fiscal policy tightening aimed at curbing high inflation. Turkish economic policy has tightened, […]

Qiddiya's launch celebration. The leisure city is to absorb the enterainment company Seven

PIF merges companies in sign of giga-project shake-up

The Saudi sports and leisure city Qiddiya said on Tuesday it would absorb the entertainment company Seven. It is the first sign of a possible shake-up of Public Investment Fund giga-projects as they struggle to meet deadlines amid rising costs and budget deficits.  Doubts have arisen about the future of some of the projects after […]

Dubai’s Emaar sets quarterly sales record of $3.7bn

Dubai-listed Emaar Properties reported its highest-ever quarterly sales, driven by sustained real estate demand in the emirate. Sales surged 47 percent year on year to AED13.5 billion ($3.7 billion), the developer said in a statement. Despite a 9 percent decline in net profit year on year to nearly AED3 billion, net profit before tax rose 16 percent […]