India and UAE Strengthen Ties with $200 Billion Trade Goal and New Agreements

• India and the UAE announced a dozen outcomes following talks between Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan.
• Both sides set a target to double bilateral trade to over $200 billion by 2032, up from $100 billion in 2024-25.
• The two countries agreed to deepen cooperation in civil nuclear energy, including large nuclear reactors, small modular reactors, plant operations, maintenance, and nuclear safety.
• PM Modi invited UAE sovereign wealth funds to participate in India’s second Infrastructure Fund, scheduled for launch in 2026.
• A long-term LNG agreement was announced under which Hindustan Petroleum Corporation will purchase 500,000 tonnes per annum of LNG from Adnoc Gas for 10 years starting in 2028.
• UAE companies First Abu Dhabi Bank and DP World will establish operations in GIFT City, with FAB opening a branch and DP World using the hub for global ship leasing.
• A letter of intent on investment cooperation was signed between the Gujarat government and the UAE Ministry of Investment for the development of the Dholera Special Investment Region.
• The Dholera partnership will cover strategic infrastructure such as airports, aviation training facilities, MRO hubs, rail connectivity, energy infrastructure, and an urban township.
• Agreements were signed to expand collaboration in space, defence, food safety, and supercomputing, with UAE-based G42 supporting a supercomputing cluster in India.
• The two sides agreed to explore digital data embassies and the establishment of a ‘House of India’ in Abu Dhabi.
• Trade expansion efforts will focus on connecting MSMEs, promoting new markets, and initiatives such as Bharat Mart, the Virtual Trade Corridor, and Bharat Africa Setu.
• The leaders directed officials to work towards interlinking national payment platforms to enable faster and more cost-effective cross-border payments.