India, UAE set $200 billion trade target as Modi, MBZ deepen Strategic Partnership
New Delhi, January 20. Prime Minister Narendra Modi and United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan have reaffirmed the expanding India-UAE Comprehensive Strategic Partnership, setting an ambitious target to double bilateral trade to $200 billion by 2032 following talks in New Delhi on January 19.
Sheikh Mohamed bin Zayed, who was on his third official visit to India as President and his fifth visit overall in the past decade, held wide-ranging discussions with Prime Minister Modi, reviewing the full spectrum of bilateral ties and noting their steady deepening over the last ten years.
According to a joint statement issued following the talks, the two leaders welcomed the outcomes of recent institutional engagements, including the 13th High-Level Task Force on Investments in September 2025 and the 16th India-UAE Joint Commission Meeting and 5th Strategic Dialogue in December 2025. They also underlined the significance of recent visits by the Crown Princes of Abu Dhabi and Dubai, describing them as reflecting generational continuity in the relationship.
Highlighting the impact of the Comprehensive Economic Partnership Agreement signed in 2022, both sides noted that bilateral trade had reached $100 billion in FY 2024-25. They agreed to intensify efforts to connect micro, small and medium enterprises in both countries, with a focus on fast-tracking initiatives such as Bharat Mart, the Virtual Trade Corridor and the Bharat-Africa Setu to expand market access across West Asia, Africa and Eurasia.
On investments, the leaders expressed satisfaction over the Bilateral Investment Treaty signed in 2024 and welcomed discussions on a potential UAE partnership in developing the Special Investment Region at Dholera in Gujarat. The proposed collaboration covers strategic infrastructure, including an international airport, port, aviation facilities, smart urban development, rail connectivity and energy infrastructure. Prime Minister Modi also invited UAE sovereign wealth funds to participate in the second National Investment and Infrastructure Fund, slated for launch in 2026.
The two sides welcomed the establishment of DP World and First Abu Dhabi Bank branches in GIFT City, reinforcing its emergence as an international financial hub, and agreed to further deepen financial cooperation, including by exploring interlinking of national payment systems to enable faster and cheaper cross-border transactions.
Food security, energy and technology cooperation featured prominently in the discussions. The leaders reaffirmed their commitment to strengthening food security partnerships and welcomed the signing of a 10-year LNG supply agreement between HPCL and ADNOC Gas, under which India will receive 0.5 million tonnes of LNG annually starting in 2028. They also agreed to explore cooperation in civil nuclear energy, including advanced reactor technologies and small modular reactors.
In science and technology, both sides agreed to deepen collaboration in artificial intelligence, emerging technologies and space. They welcomed plans for a joint space initiative aimed at commercialising space technologies, as well as cooperation on a supercomputing cluster and data centres in India. The UAE President also expressed support for India hosting the AI Impact Summit in February 2026, while both sides agreed to explore the concept of ‘Digital Embassies’.
The leaders also highlighted growing cooperation in education, culture and people-to-people ties. They welcomed steps to integrate India’s DigiLocker with UAE platforms for academic credential verification, plans to expand student exchanges, and initiatives such as the establishment of a ‘House of India’ in Abu Dhabi. Prime Minister Modi also welcomed the UAE’s decision to provide artefacts for the National Maritime Heritage Complex at Lothal.
On defence and security, both sides reiterated their commitment to sovereignty, territorial integrity and strategic autonomy, while welcoming progress in bilateral military exercises and the signing of a letter of intent towards a Strategic Defence Partnership. They also reaffirmed their strong condemnation of terrorism in all forms and agreed to continue cooperation through mechanisms such as the Financial Action Task Force.
The two leaders exchanged views on regional and global developments, recalled the launch of the India-Middle East-Europe Economic Corridor in 2023, and expressed mutual support for key multilateral initiatives, including India’s BRICS Chairmanship in 2026 and the UN Water Conference to be co-hosted by the UAE later that year.
President Sheikh Mohamed bin Zayed concluded his visit by thanking Prime Minister Modi for the warm reception and hospitality extended to him during his stay in India.
