The UAE and India have distinguished trade relations and both sides are eager to boost bilateral trade flows over the coming years, primarily through new long-term partnerships across multiple sectors including the fields of commerce and transportation. Furthermore, the UAE and India’s economies are codependent due to the vast amount of reciprocal trade and investment flows between both countries. The bilateral relationship between the UAE and India matured and transformed into a comprehensive strategic partnership
The bilateral trade between the UAE and India trade stands at USD 85 billion as of 2022. The UAE is India’s third-largest trading partner for the year 2022-23. India is the UAE’s second largest trading partner. In February 2022, India became the first country with which the UAE signed a Comprehensive Economic Partnership Agreement (CEPA). Bilateral trade has increased by approximately 15% since the entry into force of the CEPA on 1 May 2022.
The UAE was the fourth largest investor in India in 2023 and the seventh largest source of Foreign Direct Investment overall.
The UAE stood as India’s fourth largest supplier of crude oil in FY 2022-23, with the UAE’s crude oil export to India valued at USD 16.84 billion.
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