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India, UAE aim at expanding bilateral trade to $100 billion; start Rupee-Dhiram trade: Piyush Goyal
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India, UAE aim at expanding bilateral trade to $100 billion; start Rupee-Dhiram trade: Piyush Goyal

| @indiablooms | 11 Jan 2024, 12:10 am

Ahmedabad/IBNS/UNI: India and the United Arab Emirates (UAE) aspire to expand their bilateral trade to US$100 billion, Commerce and Industry Minister Piyush Goyal said on Wednesday.

Goyal stated that bilateral trade has increased under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

While addressing the ‘UAE India Business Summit’ held at the 10th edition of the Vibrant Gujarat Global Summit in Gandhinagar on Wednesday, the Minister underscored the multifaceted nature of the India-UAE partnership, encompassing collaborations in space exploration, security, education, and climate action.

"Explored ways to further strengthen our economic & trade partnership across key sectors for mutual growth," wrote Goyal on X, formerly known as Twitter.

He highlighted key collaborations such as the India-Middle East-Europe economic corridor and initiatives to promote Rupay and facilitate direct trade between rupees and dirhams.

Goyal expressed his gratitude to the Minister of State for Foreign Trade, UAE, Dr Thani bin Ahmed Al Zeyoudi; and the Chairman and CEO of DP World Group, Sultan Ahmed bin Sulayem for their 'invaluable contributions' to fostering the enduring friendship between India and the UAE.

Drawing attention to defence, cultural, and economic relations between the two nations, Goyal lauded the UAE's political stability, business-friendly policies, and infrastructural advancements as conducive factors for mutual growth and prosperity.

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