India, UAE aspire to expand bilateral trade to $100 billion: Piyush Goyal

India, UAE aspire to expand bilateral trade to $100 billion: Piyush Goyal

Ahmedabad: Union Commerce Minister Piyush Goyal said that India and UAE aspire to expand their bilateral trade to $100 billion.

While addressing the 'UAE India Business Summit' held at the 10th edition of Vibrant Gujarat Global Summit, the Minister underscored the multifaceted nature of the India-UAE partnership, encompassing collaborations in space exploration, security, education, and climate action.

Goyal said that both countries are looking for newer propositions from industry and business to further enhance their partnership.

He said bilateral trade has increased under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). He also highlighted key collaborations such as the India-Middle East-Europe economic corridor and initiatives to promote Rupay and facilitate direct trade between rupee and dirham.

He envisioned the India-UAE partnership as a defining alliance of the 21st century, rooted in shared history and aspirations for mutual progress.

Goyal acknowledged their pivotal roles in bolstering the UAE-India business relationship across various sectors, notably mentioning the plan to establish a Bharat Park in the Jebel Ali Free Zone under Sultan Ahmed bin Sulayem's guidance.

He expressed confidence that this initiative would open myriad opportunities for international trade between the two nations and beyond, significantly elevating India's global visibility.

Citing India's demographic advantage and its young, aspirational population, the Minister