India and the United Arab Emirates have agreed to double their bilateral trade to $200 billion by 2032, underscoring the rapid expansion of economic ties under their Comprehensive Economic Partnership Agreement (CEPA).
The decision was announced during the official visit of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to India on January 19, 2026, at the invitation of Prime Minister Narendra Modi. This marked HH Sheikh Mohamed’s fifth visit to India in a decade and his third as President.
Reviewing the full spectrum of bilateral cooperation, the two leaders noted that trade between the countries has grown sharply since the signing of CEPA in 2022, reaching $100 billion in FY 2024–25. Buoyed by strong momentum and business confidence on both sides, they agreed to set an ambitious new trade target of $200 billion by 2032, a joint statement issued at the end of the visit said.
Both leaders directed their teams to deepen economic engagement by strengthening Micro, Small and Medium Sector Enterprises (MSME) links, and fast-tracking initiatives such as Bharat Mart, the Virtual Trade Corridor, and the Bharat-Africa Setu, aimed at expanding market access across the Middle East, Africa, West Asia and Eurasia.
Investment cooperation
Investment cooperation also featured prominently in the discussions. The leaders welcomed the positive impact of the Bilateral Investment Treaty signed in 2024 and explored a potential UAE partnership in developing the Special Investment Region at Dholera, Gujarat, including strategic infrastructure such as an international airport, ports, rail connectivity, energy systems and a smart urban township.
Highlighting the success of the first NIIF Infrastructure Fund, the Prime Minister of India invited UAE sovereign wealth funds to consider participation in the second Infrastructure Fund, scheduled for launch in 2026. The two leaders welcomed the establishment of DP World and First Abu Dhabi Bank branches in GIFT City, reinforcing its emergence as a leading international financial center. FAB’s GIFT City branch will act as a key bridge, connecting Indian corporates and investors to its expertise and global network across the GCC and MENA markets.
Beyond trade and investment, the leaders reaffirmed cooperation across energy, food security, space, artificial intelligence, digital infrastructure, education, defence and counter-terrorism. They welcomed a 10-year LNG supply agreement between HPCL and ADNOC Gas, expanded collaboration in civil nuclear energy, and new initiatives in space commercialisation and advanced technologies.
Energy co-operation
The two leaders expressed satisfaction with the strength of the bilateral energy partnership and underscored the UAE’s contribution to India’s energy security. They welcomed signing a 10-year LNG Supply Agreement between Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Gas for the delivery of 0.5 million tonnes per year of liquefied natural gas, beginning in 2028.
The leaders also welcomed the enactment of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) law, noting that it creates new opportunities for enhanced civil nuclear cooperation. The two sides agreed to explore partnership in advanced nuclear technologies, including development and deployment of large nuclear reactors and Small Modular Reactors (SMRs), as well as cooperation in advanced reactor systems, nuclear power plant operations and maintenance and nuclear safety.
Regional connectivity also featured in the talks, with both sides reiterating their commitment to the India–Middle East–Europe Economic Corridor (IMEC), aimed at boosting trade and energy flows between Asia, the Middle East and Europe.
The leaders identified education as a cornerstone of India-UAE partnership. Building on the opening of the offshore campuses of Indian Institute of Technology Delhi and the Indian Institute of Management–Ahmedabad in the UAE, they encouraged greater efforts to promote linkages between universities and educational institutions in both countries and expand student exchanges, which will serve as a knowledge bridge between the two countries. It will include cooperation in expanding Innovation and Tinkering Labs in schools and colleges.
The leaders welcomed the understanding reached to work towards integrating India’s Digilocker with the UAE platforms for seamless authentication of Indian academic degrees/ documents, which will promote greater economic and educational opportunities and ease of living.
Key agreements signed
HH Sheikh Mohamed and Modi witnessed the exchange of a number of agreements, memoranda of understanding, and letters of intent aimed at strengthening and advancing cooperation between the two countries.
The agreements included the following:
• Letter of Intent between the UAE and India on a Strategic Defence Partnership, exchanged by Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and Dr Subrahmanyam Jaishankar, Minister of External Affairs of India.
• Letter of Intent between the UAE Space Agency and the Indian National Space Promotion and Authorisation Centre (IN-SPACe) to launch a joint initiative to enable space industry development and commercial collaboration. It was exchanged by Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, and Vikram Misri, Foreign Secretary of India.
• Sales and Purchase Agreement between ADNOC Gas and Hindustan Petroleum Corporation Limited (HPCL), exchanged by Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, and Hardeep Singh Puri, Minister of Petroleum and Natural Gas of India.
• Memorandum of Understanding on Food Safety and Technical Requirements, between the UAE Ministry of Climate Change and Environment, and the Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce and Industry of India. It was exchanged by Reem bint Ebrahim Al Hashimy and Vikram Misri.
• Letter of Intent on Investment Cooperation between the UAE Ministry of Investment and the Government of Gujarat in the Republic of India regarding the development of Dholera Special Investment Region. The document was exchanged by by Saeed bin Mubarak Al Hajeri, Minister of State, and Vikram Misri, Foreign Secretary.
