UAE-India Business Council: Economic and investment relations between the two countries are witnessing rapid growth
Dubai, May 19 / WAM / The Emirati-Indian Business Council – UAE Branch, confirmed, during an event held yesterday in Dubai under the slogan “Strength in Resilience”, that the Emirati-Indian partnership continues to consolidate its position as one of the fastest growing economic partnerships in the world, driven by the vision of the leadership of the two countries and the depth of the historical, economic and humanitarian ties between them.
The event was attended by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, His Excellency Dr. Deepak Mittal, Ambassador of the Republic of India to the UAE, and His Excellency Satish Kumar Sivan, Consul General of India in Dubai and the Northern Emirates, along with an elite group of officials, business leaders and investors from the two countries.
His Excellency Dr. Thani Al Zeyoudi stressed that the economic, investment and trade relations between the UAE and India are witnessing rapid growth, noting that non-oil trade between the two countries exceeded $76 billion last year, with a growth rate of 17%, despite the challenges facing global trade and supply chain disruptions.
He said that the UAE and India have broad opportunities to enhance cooperation in new markets, especially in Africa, through integration in investments, logistics services and supply chains, stressing that the Comprehensive Economic Partnership Agreement (CEPA) is not limited to facilitating bilateral trade, but rather opens broader horizons for companies to access global markets.
His Excellency pointed out that the UAE continues to strengthen its infrastructure and logistical capabilities and diversify sources of supply, to ensure business continuity and flexibility of supply chains, pointing out that the country is linked to more than 400 cities, ports, airports, and logistics centers around the world.
For his part, His Excellency Dr. Deepak Mittal said that the UAE-Indian partnership has proven its ability to transform challenges into opportunities, not only for the benefit of the two countries, but also for the region and the world, stressing that India stands by the UAE shoulder to shoulder, and that this relationship is based on trust, friendship and a shared vision.
His Excellency added that relations between the two countries witnessed a qualitative transformation thanks to the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” and Indian Prime Minister Narendra Modi, noting that the Comprehensive Economic Partnership Agreement signed in 2022 gave bilateral cooperation a strong impetus.
The event witnessed the announcement of a new leadership chapter in the Council, with Nilesh Vaid assuming the position of Chairman, and Adeeb Ahmed as Co-Chairman, succeeding the previous leadership, in addition to the launch of new research initiatives dealing with tourism, joint investment in Africa, education, the consumer and retail sectors, and enhancing the benefit from the CEPA agreement.
The event concluded by emphasizing the importance of continuing cooperation between governments and the private sector to accelerate innovation and open new trade and investment opportunities, thus enhancing the process of joint growth between the UAE and India.
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