India, UAE set new 3-year target for $100 billion non-oil trade

The nations will focus on trade in textiles, home décor, fisheries, leather, processed food, and pharma

- Rajeev Jayaswal

India and the United Arab Emirates have set an ambitious new target of achieving $100 billion in bilateral trade, excluding oil and precious metals, within three years, while agreeing to jointly develop infrastructure projects in third countries and deepen cooperation in strategic defence and aerospace sectors.

The target effectively aims to double the value of trade in those commodities at present.

The announcement came Thursday after the first day of the 13th India-UAE High-Level Joint Task Force on Investments meeting in Abu Dhabi, co-chaired by Union commerce minister Piyush Goyal and Abu Dhabi Investment Authority managing director Sheikh Hamed bin Zayed Al Nahyan. UAE minister of foreign trade Thani bin Ahmed Al Zeyoudi also attended the discussions.

“Our exchanges reaffirmed the dynamism of our bilateral relationship—underscored by robust trade, strategic investments, and deepening institutional alignment,” Goyal said, highlighting discussions on leveraging the success of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and exploring new frontiers for investment and collaboration, especially in the maritime and space sectors.