India-UAE bilateral trade reaches 101.25 billion dollars in FY 2025-26
New Delhi, September 28
Bilateral trade between India and UAE reached 101.25 billion dollars in the financial year 2025-26, while non-oil trade stood at 76.2 billion dollars in 2025. The two sides are working towards their shared target of 200 billion dollars in bilateral trade by 2032.
The Joint Task Force reviewed progress on several investment projects, including a proposed 11.5-billion-dollar integrated Aluminium complex in Odisha and the Food Park project in Gujarat. It also welcomed Emirates NBD’s approximately three-billion-dollar acquisition of a majority stake in RBL Bank of India and International Holding Company’s one-billion-dollar investment in Sammaan Capital of India.
The meeting explored opportunities for developing an aviation and logistics hub at Dholera in Gujarat.
The two sides further reviewed the UAE-India Fast Track Mechanism for resolving investment-related issues and agreed to take steps for their timely resolution.
Mr Goyal said the meeting reflected positive progress in investment and innovation and described the UAE as a trusted partner in India’s growth journey. Sheikh Hamed bin Zayed said the Joint Task Force has played an important role in supporting investors, resolving challenges and identifying new opportunities for cooperation between the two countries.
India and the UAE have agreed to take steps for the timely implementation of initiatives relating to settlement of trade in local currency, integration of payment and messaging systems, and central-bank digital currencies. The two sides reached the agreement during the 14th meeting of the India-UAE High Level Joint Task Force on Investments in Mumbai today. It was co-chaired by Commerce and Industry Minister Piyush Goyal and Managing Director of Abu Dhabi Investment Authority (ADIA) Sheikh Hamed bin Zayed Al Nahyan.
The Commerce and Industry Ministry said in a statement that these issues are important as they have the potential to make bilateral trade and investment more efficient, accessible and resilient. The areas where two-way investment flows can be enhanced include energy, industry, logistics, infrastructure, technology and artificial intelligence, space, food security, agricultural innovation and the startup ecosystem.
The task force was set up in 2013 to promote trade, investment and economic ties. It acts as a forum to resolve issues faced by investors of the two countries.
Addressing the media after the meeting, Mr Goyal said, India has set a target of raising its total exports of goods and services to one trillion dollars this year, from 863 billion dollars last year. He said, merchandise exports have grown by more than 15 per cent in the first six months of the current financial year, despite global economic challenges.
He said bilateral trade between India and the UAE has doubled to around 100 billion dollars under the Comprehensive Economic Partnership Agreement. The two countries now aim to take bilateral trade to 200 billion dollars by 2032.
The UAE has already invested around 25 billion dollars in India and has indicated plans to invest another 25 billion dollars soon, with a long-term investment target of 100 billion dollars.
Mr Goyal said cooperation between the two countries is expanding across several sectors, including space technology, shipbuilding, food security, artificial intelligence, logistics, energy and fintech. He said greater cooperation in food processing and exports would provide Indian farmers with assured markets while creating employment opportunities for youth and MSMEs.
The Minister also said India and the UAE are exploring cooperation in strategic petroleum reserves, LNG and LPG supplies, and possible subsea gas pipelines to strengthen energy security.
In the maritime sector, cooperation will focus on modern ports, shipbuilding, ship repair and container manufacturing. A dedicated working group will be set up to take forward these initiatives.
Mr Goyal also highlighted the growing use of UPI in the UAE, saying future cooperation in fintech will focus on cybersecurity, artificial intelligence-based financial services and startups. He said the India-UAE trade agreement, concluded in less than 90 days, reflects the strong trust and economic partnership between the two countries.