The strengthening of economic ties between India and the UAE is gaining momentum, with Dubai-based DP World's Bharat Mart project set to play a significant role in this endeavor. The project aims to provide Indian goods with faster access to global markets, leveraging Dubai's world-class infrastructure and building on the UAE-India Comprehensive Economic Partnership Agreement (CEPA). This agreement has already led to a 3.6% growth in non-oil trade between the two nations, reaching $67.6 billion in 2024.
The development of a Virtual Trade Corridor by DP World will further facilitate Indian businesses' access to global markets, boosting sectors such as advanced manufacturing and logistics. Prime Minister Narendra Modi's meeting with Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in New Delhi also aims to strengthen collaboration between the two nations.
Sheikh Hamdan's visit to India is focused on exploring opportunities for cooperation in areas such as infrastructure development, further solidifying the Comprehensive Strategic Partnership between the two nations.