India and UAE aim at increasing bilateral trade by $100 bn

India's Commerce and Industry Minister, Piyush Goyal, has expressed the desire of India and the UAE to boost bilateral trade by USD 100 billion. Speaking at the UAE-India Business Summit during the 10th Vibrant Gujarat Global Summit, Goyal emphasized the diverse nature of the India-UAE partnership, including collaboration in space exploration, security, education, and combating climate changes.

Goyal stated that both nations are actively considering new proposals from the industrial sector and business to enhance their partnership. He also highlighted key areas of cooperation, such as the India-Middle East-Europe Economic Corridor and initiatives aimed at promoting the Indian rupee and improving trade mechanisms. This is reported by ANI, a partner of TV BRICS.

The Minister remarked the efforts of UAE President Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi in fostering relations between the two countries. He also praised Yousuf Ali Abdulkader, Vice Chairman of the Abu Dhabi Chamber of Commerce, for his endeavors to strengthen bilateral ties. Additionally, Goyal noted the substantial investments made by the UAE, such as establishing a trade center in Kashmir.

Goyal acknowledged that the UAE's political stability, favorable business environment, and infrastructural accomplishments serve as advantageous factors for the economic growth and prosperity of both nations.

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