The United Arab Emirates and the Republic of India are marking the third anniversary of their Comprehensive Economic Partnership Agreement (CEPA) on May 1—a milestone that underscores the strength and momentum of a transformative bilateral relationship.
Signed in 2022, the CEPA was the UAE’s first bilateral trade pact under its global economic agreements programme, and India’s first with a Middle East and North Africa (MENA) nation. It aims to elevate non-oil trade between the two countries to US$100 billion annually by 2030.
The results have been striking. In 2024, non-oil trade between the UAE and India surged by 20.5% year-on-year to surpass AED240 billion. India emerged as the UAE’s top non-oil export destination, accounting for 13.5% of total exports—an impressive 75.2% rise from the previous year.
This economic upswing is matched by growing investment and entrepreneurial ties. In 2024 alone, the UAE issued over 41,600 new Indian economic licences, bringing the total to more than 247,000 active Indian business licences across diverse sectors. Meanwhile, UAE businesses continue to expand their footprint in India, particularly in strategic and emerging industries.
Beyond commerce, the partnership also flourishes in tourism, with over two million Indian visitors annually, and in shared ambitions for sustainable and inclusive growth. CEPA has become a cornerstone of this dynamic relationship—driving trade, fostering innovation, and building a resilient economic future for both nations.
As the agreement enters its fourth year, both countries are poised to deepen collaboration, boost cross-border ventures, and unlock new opportunities in key sectors, reinforcing one of the most significant bilateral economic relationships in the region.
News Source: Emirates News Agency
