India-UAE Business Forum Heralds Strengthening Bilateral Ties

Union Commerce and Industry Minister Piyush Goyal emphasized the growing ties between India and the UAE at the UAE-India Business Forum. Highlighting various agreements and collaborations, both nations aim to enhance trade, healthcare, technology, and renewable energy sectors. A total of nine memorandums were signed during the event.

Union Commerce and Industry Minister Piyush Goyal on Tuesday lauded the deepening ties between India and the UAE, describing them as a point of pride that will make the rest of the world envious.

Addressing the UAE-India Business Forum during the visit of Abu Dhabi's Crown Prince Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, Goyal characterized the bilateral relationship as the 'defining bond' of this decade and beyond.

Referring to popular Indian advertisements to illustrate the strong bond between the two nations, Goyal noted, 'The TV set advertisement says 'owner's pride, neighbour's envy'. That summarises the UAE-India partnership. It is our pride and will be the envy of the rest of the world.'

Since the signing of the Comprehensive Economic Partnership Agreement (CEPA) in February 2022, both countries have aimed to elevate non-oil bilateral trade to USD 100 billion by 2030. Al Nahyan's visit included a three-day itinerary with multiple events, including the business forum where nine memorandums of understanding were signed.

The agreements span various sectors, with ties deepening in healthcare, agriculture, hi-tech, logistics, and renewable energy. UAE's Minister of Foreign Trade, Thani bin Ahmed Al Zeyodi, emphasized the collaborative efforts, including advancements in AI infrastructure and renewable energy targets.

High-profile attendees like Reliance Industries' Nikhil Meswani and ITC's Sanjiv Puri witnessed collaborations such as Lulu Group's partnership with India's Agricultural and Processed Food Products Export Development Authority and Rorix teaming with Adani Port. Additionally, UAE's G42 launched a Hindi large language model at the event.

(With inputs from agencies.)