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India-UAE Trade Target Set at $200 Billion by 2032

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New Delhi: Prime Minister Narendra Modi met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Delhi on Monday. Setting aside protocol, Modi personally received Al Nahyan with a grand welcome at Palam Airport. The leaders held wide-ranging discussions on key bilateral issues and agreed to further strengthen ties, including a plan to increase annual India–UAE trade to $200 billion (approximately ₹18 lakh crore) by 2032.

Both countries took significant steps to deepen their strategic defence partnership. An agreement was signed on the development of space infrastructure, with Letters of Intent outlining the modalities. A long-term deal was also concluded under which the UAE will supply 500,000 tonnes of LNG to India annually. The UAE expressed interest in investing in the Dholera Special Investment Region in Gujarat.

The leaders strongly condemned cross-border terrorism and stressed the need to strictly punish those who promote and finance such activities. Agreements were also reached on cooperation in food security, agriculture, and mutual collaboration in the field of Artificial Intelligence (AI). Discussions reportedly included rising tensions in West Asia and measures to ensure regional stability.

Prime Minister Modi posted on X that the talks were highly productive, describing Al Nahyan as his close friend. “I went to the airport to welcome my brother. This visit reflects the importance he attaches to the strong friendship between India and the UAE,” Modi wrote. Several major agreements, including the Comprehensive Economic Partnership Agreement, local currency settlement mechanism, and a bilateral investment treaty, have already been concluded between the two nations.

Experts note that Al Nahyan’s visit comes amid recent developments in Yemen, where UAE-backed local armed groups took control of Mukalla port, leading to Saudi missile strikes and subsequent UAE troop withdrawal. In the broader West Asian context, the UAE remains one of India’s closest partners, a relationship that was reinforced during the COVID-19 pandemic when India supplied vaccines and essential materials to the UAE.

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