India and the UAE are wanting to attain a determine of $100 billion trade in non-oil and non-precious metal segments – double from the ranges proper now. The plan has been outlined to obtain the goal in the subsequent three to 4 years. Commerce Minister Piyush Goyal on Thursday mentioned that each nations have reached an settlement to collaborate on infrastructure improvement tasks in different international locations.Currently, the bilateral trade excluding oil and treasured metals quantities to $50-55 billion. “We have set a new target to double bilateral trade in non-oil and non-precious metals to $100 billion in the next 3-4 years,” Goyal mentioned in accordance to an ET report.During his two-day go to to the UAE, Goyal is co-chairing the thirteenth India-UAE High-Level Task Force on Investments (HLTFI) with Sheikh Hamed bin Zayed Al Nahyan, who serves as the MD of Abu Dhabi Investment Authority.
India-UAE Trade Outlook
The bilateral non-oil trade in the first half of 2025 reached roughly $38 billion, exhibiting a 34% rise in contrast to the first half of 2024.The minister indicated that the emirates expressed vital curiosity in inventory market investments and each international locations agreed to collectively develop infrastructure tasks, together with housing initiatives, in third international locations.The UAE presently holds the place of seventh largest investor in India.“We’ve established plans to explore investment opportunities in Africa and the GCC regions across various sectors, particularly infrastructure, by combining UAE’s financial capabilities with India’s workforce expertise,” he said.The bilateral trade between India and UAE has skilled vital progress following the implementation of CEPA in May 2022, with merchandise trade rising to $83.7 billion in FY24 from $43.3 billion in FY21.“UPl’s establishment in the UAE is progressing well, with remittances expected to commence shortly,” he indicated, noting that discussions expanded to embrace defence and aerospace sectors, with UAE expressing curiosity in Indian area expertise.Goyal famous the decision of the revenue tax officer posting: “Following my mention at the last HLTFI, the UAE swiftly approved the placement of an income tax officer within our embassy, facilitating faster financial information exchange. This exemplifies the strengthening bilateral relationship across multiple domains.”The ministerial delegation, comprising over 70 representatives, goals to enhance exports in sectors together with textiles, house decor, fisheries, leather-based, meals processing and prescribed drugs.“There’s no competition between our two countries. We support each other. We’ve selected some areas this time to focus on expanding trade to Africa, Europe and Gulf countries,” he mentioned.Goyal introduced that Bharat Mart would start operations in the UAE by 2027. The facility, comparable to China’s Dragon Mart, will function a centralised showcase for Indian exporters in the UAE. “The first phase has a 22-25 lakh sq ft showroom… it’s a strategic location,” mentioned Goyal.