India-UAE Target: $200 Billion Trade by 2032
Why in the news
India and the UAE pledged to double trade to USD 200 billion by 2032 and renewed their joint stand against terrorism, deepening their Comprehensive Strategic Partnership.
Key facts
- Trade target: USD 200 billion by 2032, building on the India-UAE CEPA (2022).
- Energy: USD 3 billion, 10-year LNG supply from ADNOC Gas to HPCL; India becomes the UAE’s largest LNG customer.
Agreement by area
| Area | What was agreed |
|---|---|
| Trade | Priority: manufacturing, services, digital trade, supply chains |
| Energy | LNG deal; civil nuclear, infrastructure, clean transition |
| Defence | Letter of Intent for a Strategic Defence Partnership; defence manufacturing, intelligence sharing, maritime security |
| Technology | Supercomputing cluster in India; AI and HPC; space Letter of Intent |
| Investment | UAE role in Dholera (Gujarat) Special Investment Region; DP World and First Abu Dhabi Bank in GIFT City |
Significance
- GIFT City presence boosts India’s role as a financial and logistics hub.
Exam angle
- ADNOC Gas supplies, HPCL buys; related terms: CEPA, GIFT City.