Due to decades-long political involvement, deep-seated links, cultural exchanges, and trade, the UAE and India’s bilateral relations have seen extraordinary progress in recent years.
Rapid growth in commercial and economic ties has opened the door for a comprehensive collaboration between the two nations.
This expansion has been significantly aided by the UAE’s proactive strategy to forging trade alliances and strengthening economic relations with important markets.
To emphasise the rapid development of their relations, the nation launched the Comprehensive Economic Partnership Agreements (CEPA) programme in September 2021, which included the CEPA with India.
The UAE-India CEPA, which took effect on May 1, 2022, was a pivotal moment in the bilateral relationship and benefited Emirati companies.
These include lowering or eliminating tariffs on more than 80% of UAE exports to India, allowing Emirati companies to conduct more open and equitable commerce over the Indian border. Service providers currently have improved market access across 11 important sectors and more than 100 subsectors.
According to data from the Federal Competitiveness and Statistics Centre, non-oil commerce between the UAE and India increased by 84% between 2020 and 2022, from Dh102.5 billion to Dh188.8 billion in the previous year.
The trade growth rate between the two nations over the last ten years (2013-2022) was 18.2%, rising from Dh159.72 billion to Dh188.8 billion last year to reach Dh1.41 trillion.
