India and the United Arab Emirates (UAE) have cultivated a relationship anchored in shared values and a mutual commitment to promoting peace, stability, and prosperity in their respective regions and beyond. Both nations uphold a rules-based international order, advocating for multilateralism and inclusivity, and championing the empowerment of women and minorities.
The Comprehensive Economic Partnership Agreement (CEPA), signed in 2022, serves as a cornerstone of their economic alliance, aiming to elevate bilateral trade to $100 billion within five years. The UAE stands as India's third-largest trading partner, with trade figures surpassing $72 billion in the fiscal year 2022. Both countries have strategically invested in sectors like infrastructure, energy, and technology, showcasing a robust economic partnership. The UAE's involvement in the development of Gujarat International Finance Tec-City (GIFT City) illustrates this synergy.
In terms of strategic and security cooperation, India and the UAE have forged close ties in counter-terrorism efforts, sharing intelligence and resources. Their collaboration extends to maritime security, conducting joint naval exercises to ensure safety in the Indian Ocean region. Additionally, the expansion of defense ties includes joint military exercises and technology transfers, further cementing their strategic partnership.
The UAE is home to over 3.5 million Indians, making it the largest Indian diaspora community globally. This vibrant community plays a significant role in strengthening people-to-people connections. Both nations actively foster cultural exchanges through various programs and initiatives, enriching their bilateral relations.
As India and the UAE continue to build on their deep-rooted relationship, their partnership is set to thrive. Economic and strategic collaborations will undoubtedly contribute to the development and prosperity of both nations in the years to come.
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