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India, UAE Set Ambitious $100 Billion Non-Oil Trade Target
India and the United Arab Emirates have set an ambitious goal of $100 billion in non-oil trade by 2030, according to the Ministry of Commerce and Industry. The announcement came after a review meeting between Union Commerce and Industry Minister Piyush Goyal and the UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, recently.
The discussions took place within the framework of the Comprehensive Economic Partnership Agreement (CEPA), which was implemented in 2022 to enhance bilateral economic cooperation.
Both ministers emphasised the need to strengthen commercial ties at a time when the global economy remains uncertain. Goyal emphasised that India’s economy has shown resilience and consistent growth even during times of international challenges. The discussions also covered the pharmaceutical industry, with a focus on addressing regulatory standards, smoother registration processes, and developing potential in the healthcare trade.
The UAE promised speedier approvals, while India emphasised its commitment to transparency and availability for inspections and audits.
In addition to pharmaceuticals, the meeting looked into opportunities for collaboration in traditional medicine, notably ayurvedic products, which are in high demand globally. The two sides expressed confidence that CEPA will not only support trade expansion but also strengthen the long-term strategic partnership between India and the UAE.
