The Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and India in 2022 has been instrumental in driving growth in their trade relationship. Non-oil trade increased from $36.7 billion in 2019 to $54.2 billion in 2023, with Dubai accounting for 85% of the UAE's non-oil trade with India.
The city's top exports to India include precious stones and metals, while imports are led by these items as well as electronics and machinery. The UAE is also a major investor in India, with $2.9 billion invested during the 2023-2024 fiscal year.
A meeting between Indian External Affairs Minister Anurag Thakur and his UAE counterpart further solidified economic ties between the two countries, with discussions on enhancing bilateral relations and cooperation in various fields. The strengthening of their economic partnership has set a global example of constructive cooperation, extending beyond economic interests to regional and international issues of shared interest.