H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, immediately met with Piyush Goyal, India’s Minister of Commerce and Trade, in Mumbai.
The assembly, held as a part of His Highness’s official go to to India, displays the 2 nations’ efforts to strengthen their strategic financial partnership.
The discussions centered on advancing cooperation throughout a large spectrum of sectors which might be pillars of the India-UAE financial relationship, together with commerce, power, funding, manufacturing, logistics, expertise and healthcare.
H.H. Sheikh Hamdan mentioned, “India and the UAE share greater than sturdy financial ties, we share a daring imaginative and prescient for the long run. Our partnership is constructed on belief, innovation, and a standard dedication to shaping resilient, forward-looking economies that advance prosperity and improve the welfare of the folks of the 2 nations. As we deepen our cooperation throughout a spread of significant sectors, we aren’t solely unlocking new alternatives for development, innovation and excellence, but in addition creating a particular mannequin of bilateral collaboration.”
The talks explored methods to construct on the momentum generated by the Complete Financial Partnership Settlement (CEPA) and the Bilateral Funding Treaty (BIT), two frameworks which have laid the inspiration for a extra open, safe, and investment-friendly financial relationship.
Either side welcomed the regular development in bilateral commerce and reaffirmed their frequent dedication to fostering provide chain resilience.
Alternatives to develop funding flows and improve business cooperation between the 2 economies had been additionally mentioned. The 2 sides checked out methods to enhance industrial collaboration and enhance commerce facilitation, together with by enhanced logistics infrastructure and extra intently linked digital commerce platforms, to assist mutual development, financial engagement and funding. As well as, the 2 leaders mentioned nearer collaboration in digital infrastructure, cost methods, and sensible logistics.
His Highness counseled India’s ongoing financial rise and its exceptional achievements in digital innovation and inclusive development. The 2 sides additionally mentioned alternatives for cooperation in synthetic intelligence, with a give attention to harnessing rising applied sciences to drive future-ready economies.
Sheikh Hamdan reaffirmed the UAE’s dedication to deepening bilateral financial ties to function a key driver of sustainable growth and a contributor to broader world financial stability.
Non-oil commerce between the UAE and India grew by 20.5% in 2024, reaching greater than AED240 billion, in comparison with AED199.3 billion in 2023. This vital development displays strengthening financial ties and promising commerce and funding alternatives.
The UAE-India CEPA, signed in 2022, goals to intention to take non-oil commerce to $100 billion by 2030.
The assembly was attended by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Government of Emirates Airline and Group; Mohammad bin Abdullah Al Gergawi, Minister of Cupboard Affairs; Reem bint Ebrahim Al Hashimy, Minister of State for Worldwide Cooperation; Mohamed bin Hadi Al Hussaini, Minister of State for Monetary Affairs; Omar bin Sultan Al Olama, Minister of State for Synthetic Intelligence, Digital Financial system, and Distant Work Purposes; and Dr. Abdulnasser Jamal Al Shaali, UAE Ambassador to India.
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