India, UAE set $100 bn non-oil trade target

India and the United Arab Emirates (UAE) have set a new goal of achieving USD 100 billion in non-oil. non-precious metals trade within three years, Union Commerce and Industry Minister Piyush Goyal announced on Wednesday in Abu Dhabi.

- TDG NETWORK

He also underlined that trade negotiations with the United States are progressing positively, reflecting India’s expanding global economic partnerships.

Speaking at the 13th meeting of the India-UAE High-Level Task Force on Investments, co-chaired with Sheikh Hamed bin Zayed Al Nahyan, Goyal said the renewed UAE target marks a diversification from traditional sectors. "We've set a new goal today: both teams will work on achieving USD 100 billion in non-oil, non-precious metals trade," he said. Areas identified for growth include textiles, fisheries, home décor, leather, food processing and pharmaceuticals.

In a significant step, both nations agreed to jointly develop infrastructure projects in third countries, particularly in mining and housing, combining India’s technology and skilled workforce with the UAE's investment strength.