UAE and India .. strategic partnerships that go on the future of economic relations at an ambitious pace
Dubai, April 8 / WAM / Economic relations between India and the UAE are witnessing remarkable growth in recent years, which reflects a strategic partnership that is steadfast at a steady pace towards expansion in multiple areas that include trade, investment, energy and technology.
Relations between the two countries are no longer limited to commercial exchange, but also extend to investment partnerships and cooperation in future projects that enhance economic cooperation between the two countries, and are heading to broader horizons.
According to a report issued by the Dubai Chambers in conjunction with the Dubai – India Business Forum, the UAE is the third trade partner of India globally in 2024, after China and the United States, with a total import of 60.1 billion dollars and exports of 37.8 billion dollars.
The report indicates that Dubai occupies the lead in this cooperation; Its share reached 85% of the total non -oil trade between the two countries, which amounted to $ 54.2 billion in 2023, while the volume of Dubai non -oil trade with India increased from $ 36.7 billion in 2019 to 45.4 billion dollars in 2023, by paying from the comprehensive economic partnership agreement “CEPA” signed in 2022.
In 2023, precious stones and precious metals doors Dubai exports to India, at a value of $ 14.65 billion, followed by machines, plastics and aluminum, while Dubai imports from India focused on precious stones with a value of $ 10.1 billion, then electronics, metal fuel, clothes, iron and steel.
With regard to investments, India attracted $ 2.9 billion of Emirati investments during the fiscal year 2023/2024, making the UAE the seventh largest investor.
Today, India is witnessing a detailed stage of its economic history, driven by extensive government reforms, and an ambitious investment that enhances its position as one of the fastest growing economies in the world.
According to the report based on the “Economist Intelligence Unit” expectations, it is expected that the Indian economy will grow at an average annual rate of 6.5% during the period 2025-2026, a rate that exceeds its counterparts in most emerging markets, which confirms India’s entry into a escalating economic path that reshapes the features of its future.
This growth depends on three main axes, the first of which is government investment in infrastructure, which will stimulate the construction and manufacturing sectors, and the second, the escalation of demand supported by strong agricultural production, while the third axis is the private investment, especially in the sectors related to infrastructure and export industries.
It is estimated that the consumer inflation rate in India will decline to 4.3% in 2025, down from 4.9% in 2024, thanks to the decline in the global commodity prices and the improvement of supply chains.
India benefits from an expanded industrial base, especially in the electronics and medicine sectors, which gives it positive prospects for export performance between 2026 and 2029.
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