India and UAE Aim to Double Trade to $200 Billion by 2032
India and the UAE have announced plans to enhance their strategic partnership, targeting a doubling of bilateral trade to $200 billion by 2032. Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed discussed various sectors for cooperation, including defence, space, and nuclear energy. A letter of intent was signed for a strategic defence partnership, expanding collaboration in areas such as cyber-security and counter-terrorism. The two nations also agreed on a 10-year LNG supply deal for 0.5 million tonnes annually, starting in 2028. The UAE is India's fourth-largest oil source and second-largest LNG supplier, with total trade reaching $100 billion in 2024-25. Additionally, both countries will explore investment opportunities in infrastructure and technology, including the establishment of digital embassies.
Published 2 hours ago • 20 Jan 2026, 06:48 AM IST