Merchandise trade between India and the United Arab Emirates reached $101.25 billion in fiscal year 2025-26, India’s Press Information Bureau (PIB) said, as the two governments pursue a separate $200 billion goal for total bilateral trade by 2032.
A Jan. 19, 2026, joint statement issued during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s visit to India set 2032 as the deadline. Prime Minister Narendra Modi and the UAE president agreed on the target. For fiscal year 2024-25, the UAE Ministry of Foreign Affairs lists trade at $100.05 billion, while an Indian Commerce Ministry release gives $100.06 billion.
The 2032 goal is distinct from a narrower benchmark. The governments reaffirmed a $100 billion target for non-oil, non-precious-metal trade by 2030 at a Comprehensive Economic Partnership Agreement (CEPA) committee meeting in November 2025, India’s Ministry of Commerce and Industry said. The ministry also reported $76.2 billion in non-oil trade for calendar year 2025, a figure covering a different period and category from the 2030 target.
The CEPA was signed Feb. 18, 2022, and took effect May 1 that year. India’s Ministry of Commerce and Industry reported merchandise trade of $43.3 billion in fiscal year 2020-21 and $83.7 billion in 2023-24.
The January statement named Bharat Mart, the Virtual Trade Corridor and Bharat-Africa Setu as initiatives to connect small and medium-sized businesses with markets across the Middle East, West Asia, Africa and Eurasia. India’s Sept. 28 update cited energy, infrastructure, technology and artificial intelligence as areas for investment cooperation. It said an Invest India office in the UAE was expected to begin work by year-end 2026.
