Second UAE-India Partnership Summit 2024: Strengthening Bilateral Ties

Second UAE-India Partnership Summit 2024: A New Era of Economic Collaboration

The second UAE-India Partnership Summit, organised by the International Business Linkage Forum (IBLF) in collaboration with the Dubai International Chamber of Commerce, concluded successfully in Dubai on 18 December 2024.

The event strengthened the enduring partnership between the UAE and India, focusing on economic growth, innovation and fostering bilateral cooperation. The summit featured an impressive line-up of distinguished speakers, including Piyush Goyal, Minister of Commerce and Industry of India; Thani Al Zeyodi, Minister of Foreign Affairs of the UAE; Sunjay Sudhir, Indian Ambassador to the UAE; Rajiv Podar, President, IBLF; Dinesh Joshi, President, IBLF; and Pankaj Savara, President UAE Chapter, IBLF. They jointly emphasized the important role of the Comprehensive Economic Partnership Agreement (CEPA) in facilitating unprecedented growth in bilateral trade, which crossed $84 billion in 2022-23, reducing tariffs and facilitating trade on an unprecedented scale.

The summit focused on key areas of cooperation such as renewable energy, fintech, digital transformation, education innovation and manufacturing. Investment prospects in advanced manufacturing, clean energy, and artificial intelligence were discussed, along with the development of strategic alliances to generate value across sectors. The event strengthened the complementary nature of the two nations’ capabilities by promoting the UAE’s Vision 2030 program and a common goal of India being a $5 trillion economy.

Among the summit’s results were legislative proposals, economic insights, and strategic memorandums of understanding to enhance business operations and boost trade volumes. The UAE is India’s third-largest commercial partner, and policymakers and business leaders have highlighted India’s importance as a key partner.

Shri Piyush Goyal noted that the summit was a testament to the two countries’ shared vision for a future rooted in innovation, sustainability and prosperity, while H.E. Thani Al Zeyoudi reaffirmed the UAE’s commitment to further deepening this relationship.

“#UAE and #India continue to strengthen our partnership under the landmark #CEPA.I attended the 2nd India-UAE Partnership Summit, which was hosted by IPLF to celebrate its significant progress and explore opportunities for future cooperation, together with other notable government officials and business leaders. Our non-oil trade reached $28.2 billion in H1 2024, a 9.8% year-over-year rise and 6.5 times the global average. The results are unmistakable. Al Jeyodi stated, “We are confident of driving even greater growth in 2025 as we focus on increasing private sector engagement in key sectors like food, logistics, energy, and transport.”

“The two countries’ thriving and growing cooperation is demonstrated by the strong India-UAE engagement in crucial areas including commerce, infrastructure, investment, and technology.” Sudhir.

There are numerous chances for collaboration between India and the United Arab Emirates. For UAE investors, India’s booming manufacturing sector, quick digital revolution, and growing consumer market present unmatched opportunities.

The UAE and India have a lot to offer in terms of joint venture possibilities. For investors in the UAE, India’s expanding consumer market, manufacturing sector, and digital transformation present unmatched potential.

Nonetheless, the UAE’s strategic location as a global trading hub and its cutting-edge policies on infrastructure, sustainability, and technology make it the perfect partner for Indian businesses wishing to grow abroad.

Together, we have the foundation to build a future of shared prosperity and innovation,” said Poddar.

“The growing trade between India and the UAE is a testament to the success of our bilateral partnership and the transformative impact of #CEPA. Joshi said, “Not only did we celebrate a significant non-oil trade of $28.2 billion in H1 2024, but we also envisioned an even brighter future at the 2nd India-UAE Partnership Summit.”

The summit, organised by the Dubai International Chamber of Commerce, IBLF, demonstrated the value of collaboration and laid the foundation for future success.

In addition to being a commercial conference, it was a celebration of the solid alliance between two nations that continue to dominate the global scene through respect for one another and common goals. Delegates and leaders from seven different nations attended the exclusive gathering.