702, 7th Floor, DIFC - Gate Building, East - DIFC - Dubai

UIBC-UC

Did you know?

The UAE is India's 3rd
Largest Trading Partner

The UAE is a Major Source
of Remittances to India

The 2nd Highest Volume of
Exports from the UAE are to India

India is the UAE's
2nd Largest Trading Partner

The Highest Number of Indian Migrants
Globally are in the UAE

Indians are the Largest Investors in Dubai's
Real Estate Market

Until the 1960s, all Currency Notes Used in India
were also Used in the UAE

The UAE is the First Middle East Country to
Issue RuPay Card

India-UAE Relations: Witnessing
Unprecedented Heights

0 mn

Indian expatriate
community in the UAE

$ 0 bn

Cumulative FDI inflows
from the UAE to India
(April 2000 - June 2023)

0 mn

Indians visited
the UAE in 2022

$ 0 bn

In remittance received
from the UAE to
India in 2021

UIBC-UC:

A New Era of Trade, Investment and Collaboration

The UAE India Business Council (UIBC) is the Official Joint Business Chamber set up under the patronage of India’s Ministry of External Affairs and the UAE’s Ministry of Foreign Affairs and International Cooperation to catalyse innovative economic collaboration between the two nations.

The UIBC-UC was established on 18 February 2023, coinciding with the first anniversary of the signing of the historical Comprehensive Economic Partnership Agreement (CEPA), whose influence the Council strives to amplify. The UAE’s Hon. Minister of State for Foreign Trade H.E. Dr. Thani bin Ahmed Al Zeyoudi launched UIBC-UC in the presence of Ambassador of India to the UAE Mr. Sunjay Sudhir, Consul General of India in Dubai Dr. Aman Puri (2020-2023) and UIBC-UC’s founding members.

The UIBC-UC is committed to ushering in a new era of collaboration by leveraging its unparalleled network of 19 Founding Members that represent the top Indian and Emirati business organisations. UIBC-UC as a consortium represents more USD 1+ trillion in assets under management, thus standing at the forefront of fostering dynamic partnerships that will shape the economic trajectory of India and the UAE.

Building on the rich history of close economic ties between the UAE and India, UIBC-UC focuses on identifying opportunities for significant strategic projects that businesses in both countries can undertake. This includes investments in large infrastructure projects, manufacturing, technology, hybrid renewable energy projects, IT, tourism infrastructure, shipping, and enabling Indian businesses to leverage the UAE as a base for their global expansion.

Ultimately, UIBC-UC envisions to play a vital role in assisting both governments in realising CEPA's objectives of elevating bilateral Non-oil Trade to USD 100 billion and garnering USD 75 billion in investments from the UAE to India by 2030.

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India-UAE Trade Relations

Since 3000 B.C, the UAE and India have celebrated a long and rich history of close economic, cultural, and social ties. Early trade dynamics were traditionally dominated by pearls, dates, and fishes and the landscape subsequently shifted to oil following its discovery in the 1960s. Here is a glimpse of the historic milestones between the two nations.

  • 1970s
  • 1980s
  • 1990s
  • 2000s
  • 2015
  • 2016
  • 2017
  • 2019
  • 2021
  • 2022
  • 2023

Embassies Established and Trade Boosted following the UAE’s Oil Production Boom

Following the UAE’s formation in 1971, Embassies were established in New Delhi (1972) and Abu Dhabi (1973). With the discovery of oil in the 1960s, the 1970s witnessed an oil production boom resulting in enhanced trade.

Hon. Prime Minister Mrs. Indira Gandhi Visited the UAE and Civil Aviation Agreement Signed

In May 1981, Hon. Prime Minister of India Mrs. Indira Gandhi visited the UAE. Later, in 1989, a bilateral agreement – the Civil Aviation Agreement – was signed between the two nations.

Double Tax Avoidance Agreement Signed

Following India’s liberation reforms in 1991, the two nations signed a Double Taxation Avoidance Agreement in 1993.

Free Trade Agreement Between India and Gulf Countries

Trade relations gathered momentum following a Free Trade Agreement (FTA) between India and the Gulf countries in 2004.

Indian PM Visit to the UAE After 34 Years

Hon. Prime Minister of India Mr. Narendra Modi’s visit to the UAE marked the first visit by an Indian Prime Minister in 34 years, setting a new trajectory for bilateral relations.

H.H. Sheikh Mohammed Bin Zayed Al Nahyan Visited India

Hon. President of the UAE, H.H. Sheikh Mohammed Bin Zayed Al Nahyan visited India and emphasised the nations’ mutual interests in enhancing economic cooperation.

Abu Dhabi Crown Prince Invited as Chief Guest at India's 68th Republic Day

Crown Prince of Abu Dhabi H.H. Sheikh Mohamed Bin Zayed Ali Nahyan was invited as the Chief Guest for India's 68th Republic Day ceremony. (Jan 2017)

The UAE Becomes India’s 3rd Largest Trading Partner

The UAE became India's third largest trading partner after the US and China, as bilateral trade hit USD 60 billion during FY 2018-19, growing by 20%

Non-oil Bilateral Trade Turnover of USD 45 billion

The UAE and India strengthened their trade ties, with a turnover of around USD 45 billion in non-oil trade.

Comprehensive Economic Partnership Agreement (CEPA) Signed

In February 2022, the UAE and India signed CEPA in New Delhi (India) during the India-UAE Virtual Summit, aiming to enhance bilateral trade to USD 100 billion by 2030.

UIBC-UC Established

The UAE Chapter of UIBC was established on 18 February 2023 – the first anniversary of the signing of CEPA.

The UIBC-UC endeavours to amplify CEPA’s objectives to shape a new era of collaboration and growth.

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