UAE-India economic, investment ties witnessing rapid growth: UIBC-UC

emirates7 - The UAE-India Business Council – UAE Chapter (UIBC-UC) affirmed during an event held on Monday in Dubai under the theme "Strength in Resilience" that the UAE-India partnership continues to strengthen its position as one of the world’s fastest-growing economic partnerships, driven by the vision of the leadership of both countries and the depth of their historical, economic and people-to-people ties.

The event was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade; Dr. Deepak Mittal, Ambassador of the Republic of India to the UAE; and Satish Kumar Sivan, Consul-General of India in Dubai and the Northern Emirates, alongside a group of officials, business leaders and investors from both countries.

Dr. Al Zeyoudi stressed that economic, investment and trade relations between the UAE and India are witnessing rapid growth, noting that non-oil trade between the two countries exceeded US$76 billion last year, marking a growth of 17 percent despite challenges facing global trade and supply chain disruptions.

He said the UAE and India possess broad opportunities to strengthen cooperation in new markets, particularly in Africa, through integration in investments, logistics and supply chains, stressing that the Comprehensive Economic Partnership Agreement (CEPA) not only facilitates bilateral trade but also opens broader opportunities for companies to access global markets.

He added that the UAE continues to strengthen its infrastructure, logistics capabilities and diversify supply sources to ensure business continuity and resilient supply chains, noting that the country is connected to more than 400 cities, ports, airports and logistics hubs worldwide.

Dr. Mittal said the UAE-India partnership has demonstrated its ability to transform challenges into opportunities, not only for the benefit of both countries but also for the wider region and the world. He stressed that India stands shoulder to shoulder with the UAE and that the relationship is built on trust, friendship and a shared vision.

He added that relations between the two countries have witnessed a qualitative transformation under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi, noting that the CEPA signed in 2022 gave bilateral cooperation strong momentum.

The event also witnessed the announcement of a new leadership chapter within the Council, with Nilesh Ved assuming the role of Chair and Adeeb Ahamed taking over as Co-Chair, succeeding the previous leadership. New research initiatives were also launched covering tourism, joint investment in Africa, education, consumer and retail sectors, and enhancing utilisation of the CEPA.

The event concluded with emphasis on the importance of continued cooperation between governments and the private sector to accelerate innovation and unlock new trade and investment opportunities, further supporting the shared growth journey between the UAE and India.