The Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates celebrated its third anniversary on February 18, 2025. On February 18, 2022, India’s Prime Minister Shri Narendra Modi and the President of the United Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan, inked this historic trade agreement during a virtual summit. It becomes formally operative on May 1, 2022.
Bilateral trade between the two countries has experienced an unprecedented increase since the agreement’s adoption. Between FY 2020–21 and FY 2023–24, the total trade value increased from USD 43.3 billion to USD 83.7 billion. Trade reached USD 71.8 billion between April and December 2024 alone, demonstrating the swift economic interaction between the nations.
The growth of non-oil commerce, which totalled USD 57.8 billion in FY 2023–2024, has been greatly aided by CEPA. The objective of reaching USD 100 billion in non-oil commerce by 2030 is in line with this expansion.
In FY 2023–2024, India’s non-oil exports to the UAE increased dramatically to USD 27.4 billion. Products made from refined crude oil, jewellery and stones, electrical equipment, chemicals, and high-tech items are important export markets.
