Piyush Goyal has reached UAE on a two -day tour
Minister of Commerce and Industry of India Piyush Goyal Arrived at UAE on a two -day tour. Here he will co-head the 13th India-UAE High-Level Investment Work Force (HLTFI) in association with Sheikh Hamid bin Zayed Al Nahyan. In this important meeting, along with reviewing the ongoing trade agreements between the two countries, new investment opportunities will also come under discussion. The special thing is that CEPA i.e. Comprehensive Economic Partnership Agreement, which came into force in May 2022, has greatly promoted the trade between India and UAE.
Trade doubled after CEPA was implemented
Cepa After implementation, trade between India and UAE has doubled. Trade between the two countries in FY 2020-21 was $ 43.3 billion, which has now increased to $ 83.7 billion in FY24. This is not just an increase of numbers, but in addition to oil, the share of trade has increased rapidly in non-oil areas, which is a good sign of diversification of the economies of both countries. According to the report of the Ministry of Commerce, this increase shows a strong economic partnership between the two countries.
India-UAE new energy in trade
This tour is also special for the big meetings and important decisions of the business world. Piyush Goyal UAE’s Commerce Minister Dr. Thabin Ahmed Al Zayodi will co-president of the UAE-India Business Council meeting. The CEOs of big companies of India and UAE will participate in this meeting. This opportunity will be a very important platform for business representatives of both countries to increase partnership and discuss new projects.
Apart from this, Piyush Goyal Sheikh Tenhun bin Zayed Al Nahyan (UAE NSA), Ahmed Jasim Al Zabi and Syed Basar Shueb will also meet important officials, which will further strengthen cooperation between the two countries.
HLTFI is a reliable platform for investors
HLTFI i.e. high -level investment workforce started in 2013. This platform helps a lot to solve the problems of investors and strengthen the economic relations of India-UAE. In the 12th meeting held in Mumbai in October 2024, the bilateral investment treaty between the two countries was approved, which was signed by the two countries during PM Modi’s UAE tour of February 2024.
India-UAE partnership not limited to trade
India and UAE’s partnership is not limited to trade alone. This relationship extends to many important areas like defense, energy, technology and food security. Both countries are also taking steps towards new achievements by further strengthening cooperation in these areas. The start-up series launched by CEPA Council has attracted more than 10,000 Indian entrepreneurs in just 50 days. This program is becoming a strong means of bringing India’s innovations to the world and expanding in the global market.