India & UAE Commemorate CEPA & UIBC Anniversaries

On 28th February 2025, India and the UAE commemorated the third anniversary of the Comprehensive Economic Partnership Agreement (CEPA) and the second anniversary of the UAE-India Business Council (UIBC) UAE Chapter at a high-profile event attended by key dignitaries and industry leaders.

Key Points

CEPA’s Impact on Trade Growth: The UAE’s non-oil trade with India grew by 20.5% year-on-year, reaching AED 240.3 billion, solidifying the UAE’s position as a global trade hub.
Investment & Economic Integration: The Local Currency Settlement mechanism, India-Middle East-Europe Economic Corridor (IMEC), and Virtual Trade Corridor (VTC) have facilitated smoother and cost-effective trade between the two nations.
Educational Collaboration: UAE’s commitment to hosting top Indian institutions, including IIT Delhi Abu Dhabi, IIM Ahmedabad, and IIFT Dubai, reinforces bilateral cooperation in education and innovation.
Trade Projections: Bilateral trade between India and the UAE reached $84 billion by March 2024, with an ambitious target of $100 billion in non-oil trade and $15 billion in services trade by 2030.
Release of Key Reports: Reports on India’s renewable energy sector, an investment roadmap, and a business guide for Indian investors in the UAE were launched in collaboration with SBI Capital Markets.