Last Updated on May 2, 2026 11:59 pm by BIZNAMA NEWS
AMN / NEW DELHI
The India-UAE Comprehensive Economic Partnership Agreement has significantly strengthened economic ties between India and the United Arab Emirates, driving robust trade growth and unlocking fresh opportunities for Indian businesses, Union Commerce Minister Piyush Goyal said.
Marking four years since the agreement came into force, Goyal noted that the partnership has delivered substantial gains across sectors, benefiting farmers, MSMEs, and exporters. In a post on the social media platform X, he described the pact as a transformational step that has expanded market access and improved trade prospects.
Bilateral merchandise trade between the two countries has crossed the $100 billion mark, reflecting sustained momentum under the agreement. Services trade has also grown steadily, enabling Indian companies to tap into new markets while enhancing value creation.
The minister highlighted strong expansion in sectors such as gems and jewellery, engineering goods, electronics, and agriculture, all of which have contributed to the upward trajectory in trade. He also pointed to rising foreign direct investment from the UAE and increasing overseas investments by Indian firms as signs of deepening economic engagement.
According to Goyal, these developments are translating into tangible benefits for exporters and entrepreneurs, reinforcing India’s position in global trade networks.
Separately, the minister held a virtual meeting with Peter Kyle, the UK Secretary of State for Business and Trade, to discuss ways to further strengthen bilateral trade and investment ties. Both sides explored opportunities to enhance cooperation under the proposed India-UK Comprehensive Economic and Trade Agreement.