Our ties with UAE are the envy of the world, says Union Minister Piyush Goyal

Commerce and industry minister Piyush Goyal on Tuesday called the deepening ties between India and the United Arab Emirates a "defining bond" of this decade and beyond, which will make the rest of the world envious.

"It is our pride and will be the envy of the rest of the world," he said at the UAE-India Business Forum in Mumbai, where he met UAE minister of state for foreign trade Thani bin Ahmed Al Zeyoudi and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

Goyal said the India-UAE partnership stands on the pillars of innovation, investment and sustainable development.


The two nations signed the Comprehensive Economic Partnership Agreement (CEPA) in February 2022 and aim to take the non-oil bilateral trade to $100 billion by 2030.

Goyal also lauded initiatives besides the CEPA taken by both sides to promote trade, including local currency settlement and the warehousing facility Bharat Mart being set up in Dubai's Jebel Ali Free Zone. He encouraged stakeholders to explore investment opportunities and trade possibilities.

A total of nine memoranda of understanding were signed between companies from India and the UAE at the forum, including an agreement between state-run entities to jointly scout for critical minerals across the world.