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reaching US$51.4 billion, a growth of 15 percent compared to 2021 and more
than 24 percent compared to 2019, with a share of 8.3 percent of the UAE's total
international non-oil trade. India is also the world's leading destination for the
UAE's non-oil exports, with a share of 11 percent of the country's total exports.

He added, “During the 17 months from the start of implementation of the
Comprehensive Economic Partnership Agreement between the UAE and India on
1st May 2022, to the end of September 2023, non-oil trade between the two
countries increased by 2.5 percnet compared to the corresponding period of
2021/2022, and by 42.4 percent compared to the same period of 2020/2021, and
by 54.8 percent compared to the same period of 2019/2020.”

Non-oil trade between the two countries reached $38.1 billion in the first nine
months of 2023, the same figure recorded in the same period of 2022, Al Zeyoudi
stated. “The main commodities exchanged between the two sides have
diversified, especially UAE exports, to include gold, jewellery, plastics, cement,
petroleum oils and dates, which have achieved significant growth after benefiting
from the provisions of the Comprehensive Economic Partnership Agreement.”

Al Zeyoudi explained that 7.4 percent of India's international imports come from
the UAE, which ranks second globally after China. India also exports 6.9 percent
of its international exports are received by the UAE, which ranks second for
Indian exports after the United States. The UAE is also India's third-largest
trading partner globally, with a 7.2 percent share of its non-oil foreign trade, and
the first Arab country with a share exceeding one-third of India's trade with Arab
countries, he added.

The Minister of State for Foreign Trade stated that the value of the UAE's direct
investments in India reached about $17 billion by the end of September 2023,
making it the seventh-largest investor in India globally and the first Arab country
with a 3 percent share of total foreign direct investment.

Indian investments in the UAE reached $8 billion, ranking second globally with a 6
percent share of total foreign direct investment into the country. Thus, the value of
the UAE-India mutual investments is $25 billion, 70 percent of which is from the
UAE to India, Al Zeyoudi further said.

https://wam.ae/en/article/b1n6twt-uae-india-strategic-partnership-model-sustainable