Abu Dhabi/New Delhi, Apr 9 (UNI) The visit of the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence Sheikh Hamdan to India comes as the two friendly countries approach the third anniversary of the implementation of their Comprehensive Economic Partnership Agreement (CEPA), which came into effect on May 1, 2022, the UAE Trade Minister said.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the UAE and India share a strong mutual commitment of elevating their strategic partnership across all sectors. This cooperation, he noted, is aligned with the ambitious development goals of both nations and contributes to sustainable economic growth and shared prosperity for their peoples, he told WAM news agency
Al Zeyoudi emphasised that the reciprocal visits by the leaders of both countries reflect this joint vision and help strengthen strategic collaboration. These high-level engagements continue to create opportunities for building deeper partnerships, especially in trade and investment between the business communities and private sectors of both nations.
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) is the first of its kind signed by the UAE under its CEPA programme and the first to be implemented — highlighting the long-standing and robust ties between the UAE and India, he added.
Al Zeyoudi pointed out that the UAE and India continue to reap tangible benefits from the CEPA, which over the past three years has led to significant growth in bilateral trade and investment flows. Non-oil trade between the two countries grew by 20.5%, reaching over AED240 billion in 2024, compared to AED199.3 billion in 2023. This growth underscores the vast opportunities in trade and investment between the two nations.
India also ranked as the top destination for UAE’s non-oil exports in 2024, accounting for 13.5% of total non-oil exports—a remarkable year-on-year increase of 75.2% compared to 2023.
He further explained that both nations play a vital role in each other’s economies. India is the UAE’s second-largest global trading partner after China, while the UAE is India’s third-largest trading partner, following China and the U.S.
India is also the second-largest investor in the UAE, holding a 6.3% share with investments totaling nearly US$10 billion by the end of 2022. Conversely, the UAE has cumulative direct investments in India of around US$23 billion by the end of 2024—making it India’s seventh-largest global investor and the top Arab investor.
The value of UAE investments flowing into India between April 2022 and December 2024 reached US$10.4 billion, coinciding with the implementation of the CEPA.
