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India-UAE Rupee-Dirham Trade Soars, Targets $200 Billion by 2032
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CNBC TV18•28-09-2026, 16:29
India-UAE Rupee-Dirham Trade Soars, Targets $200 Billion by 2032
- •Local currency settlement between India and UAE has reached double digits, with exporters increasingly utilizing its benefits.
- •The India-UAE bilateral trade has doubled to over $100 billion since CEPA in May 2022, aiming for $200 billion by 2032.
- •Commerce and Industry Minister Piyush Goyal discussed trade, investment, and supply chain strengthening with UAE officials, including market access, logistics, and financial cooperation.
- •UAE has invested $25 billion in India and plans to invest another $25 billion, with trade expected to surpass pre-war levels soon.
- •Discussions also covered food security for West Asia, agri innovation, AI, emerging technologies, and fintech, including the global expansion of Indian fintech like UPI.
Key Questions Answered
India and the UAE aim to double their current bilateral trade to over $200 billion by 2032.
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) came into force in May 2022.
The UAE has already invested $25 billion in India, making it the 7th largest source of foreign direct investment, with intent to invest another $25 billion.
