Page 219 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/20/24, 11:30 AM UAE-India non-oil trade surges 10 percent in H1 2024, says minister Al Zeyoudi
UAE-India non-oil trade surges 10 percent in H1 2024, says minister Al Zeyoudi
Emirati investments in India reached $3.3 billion last year, while Indian investments in the
UAE exceeded $2 billion

Total non-oil trade between the two countries rose by 3.94 percent from $51.4 billion in 2022 to $53.4 billion in 2023 (Image:
WAM)
Published: Wed 11 Sep 2024, 10:52 AM
Non-oil trade between the UAE and India surged 10 percent during the first half of 2024 to $28.2
billion, stated Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during his
participation at the UAE-India Business Forum.
Total non-oil trade between the two countries rose by 3.94 percent from $51.4 billion in 2022 to
$53.4 billion in 2023.
“The figures underline the benefits of the UAE-India CEPA, which has proved to be a major driver
of industrial output, employment and global competitiveness, and provide the platform for greater
collaboration in the months and years ahead,” added Al Zeyoudi.
Rising mutual investments
The minister also highlighted the remarkable growth of Emirati investments in India, which reached
$3.3 billion last year. He also noted that Indian investments in the UAE exceeded $2 billion,
demonstrating the strong economic ties between the two countries.

The UAE’s investments in India reached approximately $16.2 billion between 2019 to 2023, while
Indian investments in the UAE reached $7.76 billion. The UAE’s investments in India span several
sectors, including renewable energy, metals, software, IT services, chemicals, and original
automotive equipment manufacturing.
Read: Abu Dhabi Crown Prince wraps up visit to India, reinforces bilateral bonds
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