In a significant address at the ‘UAE India Business Summit’ during the 10th edition of the Vibrant Gujarat Global Summit, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal expressed the mutual aspiration of India and the UAE to expand their bilateral trade to an impressive US$ 100 Billion. The minister highlighted the diverse and multifaceted nature of the India-UAE partnership, extending beyond trade to collaborations in space exploration, security, education, and climate action.
Goyal emphasized the role of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in boosting bilateral trade, citing an increase under this agreement. He also brought attention to key collaborations such as the India-Middle East-Europe economic corridor and initiatives promoting the usage of Rupay to facilitate direct trade between the Indian Rupee and the UAE Dirham.
The minister underscored the significance of the UAE India Business Summit as a platform to unlock the vast potential that the partnership offers. He lauded the leadership of President of UAE, H.H. Sheikh Mohamed bin Zayed Al Nahyan, and Prime Minister of India, Narendra Modi, for elevating the relationship between the two countries.
Goyal envisioned the India-UAE partnership as a defining alliance of the 21st century, rooted in shared history and aspirations for mutual progress. He expressed gratitude to key figures contributing to the enduring friendship between the nations, including Minister of State for Foreign Trade, UAE, H.E. Dr. Thani bin Ahmed Al Zeyoudi, and Chairman and CEO of DP World Group, Sultan Ahmed bin Sulayem.
Acknowledging their pivotal roles, Goyal highlighted specific initiatives, such as the plan to establish a Bharat Park in the Jebel Ali Free Zone under Sultan Ahmed bin Sulayem’s guidance, expressing confidence in its potential to significantly elevate India’s global visibility.
The minister applauded Yousuf Ali Abdulqader, Vice Chairman of the Abu Dhabi Chamber of Commerce, for fortifying bilateral ties and mentioned notable investments in India’s growth story, including the establishment of a shopping mall in Kashmir.
Addressing the growing defense, cultural, and economic relations, Goyal commended the UAE’s political stability, business-friendly policies, and infrastructural advancements as conducive factors for mutual growth and prosperity.
Expressing optimism for the future, the minister invited investors to participate in India’s growth story, citing the nation’s demographic advantage and its young, aspirational population. He concluded by reiterating the commitment of India and the UAE to forge an enduring partnership with a lasting impact on both nations.
