The Economy of the UAE
India and the UAE: A Close Partnership
The UAE is one of India's largest trade partners, with a trade agreement signed in 2022 and a large Indian community living and working there.
Deep economic ties.
Trade
The UAE is among India’s top trading partners, buying goods and supplying oil, gas and gold.
CEPA
The India-UAE Comprehensive Economic Partnership Agreement took effect in 2022, cutting duties on many products.
Diaspora
Around three and a half million Indians live in the UAE, many sending remittances.
Investment
Emirati funds invest in Indian infrastructure and companies.
Gold and gems
Rough diamonds and gold pass through Dubai on their way to Indian jewellery workshops.
Reducing the relationship to remittances alone
Trade and investment are also large.
Key takeaways
- The UAE is a top partner of India.
- CEPA began in 2022.
- The diaspora is large.
- Investments flow both ways.
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