Latest news with #UAE-IndiaComprehensiveEconomicPartnershipAgreement
The Print
24-06-2025
- Business
- The Print
Assam CM holds talks with UAE ambassador, discuss trade and investment opportunities in state
During the visit, Ambassador Alshaali said, 'Assam is a key gateway to Northeast India and offers immense potential for partnership with the UAE across a diverse range of sectors. It was a pleasure to exchange views with Chief Minister Himanta Biswa Sarma on how we can work together to unlock this potential. The UAE is keen to expand its partnership with this critically important state and to support its ongoing development. Ambassador Alshaali is on an official visit to Assam to explore opportunities for bilateral economic, trade and investment cooperation. Dispur: Assam Chief Minister Himanta Biswa Sarma and Abdulnasser Alshaali, the UAE Ambassador to India, held a high-level meeting to discuss strengthening ties between the UAE and Assam in several key sectors, including agriculture and food processing, education, innovation, logistics and connectivity, and sustainable tourism. Assam CM Himanta Biswa Sarma said, 'Had the pleasure to host H.E. Abdulnasser Alshaali, the Ambassador of UAE to India at Lok Sewa Bhawan. UAE is keen to expand trade, boost connectivity and explore investment opportunities in Assam. We had a good discussion on how the North East could accelerate the close collaboration between our nations.' Both discussed India's development of the Jogighopa Multimodal Logistics Park, which integrates road, rail, and inland waterway transport. Both sides emphasised Assam's potential in enhancing regional and cross-border trade connectivity between the UAE, India, and the Southeast Asian region. It was further noted that the UAE-India Comprehensive Economic Partnership Agreement (CEPA) offers a robust platform for collaboration across priority sectors for Assam, including food processing, pharmaceuticals, medical equipment, textiles, wellness, and handloom and handicrafts. Since the signing of the CEPA on 18 February 2022, bilateral trade between the UAE and India has nearly doubled, from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in FY 2023-24, driven by a significant expansion in non-oil trade, which reached USD 57.8 billion in FY 2023-24. These gains reflect the CEPA's success in diversifying the bilateral trade basket and advancing toward the bilateral non-oil trade target of USD 100 billion by 2030. This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content. Also Read: India-China agree to 'stabilise and rebuild ties', to start talking economy and trade next
India Gazette
24-06-2025
- Business
- India Gazette
Assam CM meets UAE Ambassador, holds discussion on strengthening ties
Dispur (Assam) [India] June 24 (ANI): Assam Chief Minister Himanta Biswa Sarma and Abdulnasser Alshaali, the UAE Ambassador to India, held a high-level meeting to discuss strengthening ties between the UAE and Assam in several key sectors, including agriculture and food processing, education, innovation, logistics and connectivity, and sustainable tourism. Ambassador Alshaali is on an official visit to Assam to explore opportunities for bilateral economic, trade and investment cooperation. During the visit, Ambassador Alshaali said, 'Assam is a key gateway to Northeast India and offers immense potential for partnership with the UAE across a diverse range of sectors. It was a pleasure to exchange views with Chief Minister Himanta Biswa Sarma on how we can work together to unlock this potential. The UAE is keen to expand its partnership with this critically important state and to support its ongoing development.' Assam CM Himanta Biswa Sarma said, 'Had the pleasure to host H.E. Abdulnasser Alshaali, the Ambassador of UAE to India at Lok Sewa Bhawan. UAE is keen to expand trade, boost connectivity and explore investment opportunities in Assam. We had a good discussion on how the North East could accelerate the close collaboration between our nations.' Both discussed India's development of the Jogighopa Multimodal Logistics Park, which integrates road, rail, and inland waterway transport. Both sides emphasised Assam's potential in enhancing regional and cross-border trade connectivity between the UAE, India, and the Southeast Asian region. It was further noted that the UAE-India Comprehensive Economic Partnership Agreement (CEPA) offers a robust platform for collaboration across priority sectors for Assam, including food processing, pharmaceuticals, medical equipment, textiles, wellness, and handloom and handicrafts. Since the signing of the CEPA on 18 February 2022, bilateral trade between the UAE and India has nearly doubled, from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in FY 2023-24, driven by a significant expansion in non-oil trade, which reached USD 57.8 billion in FY 2023-24. These gains reflect the CEPA's success in diversifying the bilateral trade basket and advancing toward the bilateral non-oil trade target of USD 100 billion by 2030. (ANI)
Arabian Business
17-04-2025
- Business
- Arabian Business
India, Middle East can step in to reshape global trade amid Trump tariff war, expert says
As US President Donald Trump's tariffs trigger a projected 0.2 per cent contraction in global merchandise trade, the strategic economic partnership between India and the Middle East offers an alternative model for trade resilience and growth, according to regional economic experts. 'As talk of tariffs and trade wars rocks stock markets around the world, the strengthening of connections between India and the Middle East stands out as a rare beacon of opportunity for growth-focused investors,' Andrew Stevens, Principal Representative – MENA at EquitiesFirst, a specialist global equity-backed financing provider, told Arabian Business in an exclusive interview. 'Already Dubai's airports are packed with Indian travellers, while UAE sovereign wealth funds are pouring billions into Indian companies and infrastructure projects, and Indian firms like Lulu Group are making waves in the UAE's capital markets,' he said. 'Now, with the India-Middle East-Europe Economic Corridor (IMEC) taking shape, this partnership could reshape global trade.' Strengthening India-UAE economic eies Stevens said the UAE's position as a global financial hub can complement India's growing capital markets, enabling more Indian firms to list in the UAE and vice versa. Strengthening startup and SME collaboration through joint venture funds and incubators would also diversify India-UAE investment avenues beyond traditional sectors like real estate and energy, he said. 'To further enhance bilateral investments between India and the UAE, policymakers should focus on deepening economic integration through strategic initiatives,' he said. The MENA top executive of EquitiesFirst, which services founders, entrepreneurs, CEOs, board members and other high-net-worth individuals (HNWIs) globally, said while the UAE-India Comprehensive Economic Partnership Agreement (CEPA) laid a strong foundation by reducing tariffs and increasing trade flows, expanding this framework to include services, digital trade, and investment protection agreements would further strengthen economic ties between the two regions. 'Both nations should also explore joint infrastructure projects, particularly in logistics and energy, to support the India-Middle East-Europe Economic Corridor (IMEC). Additionally, streamlining regulatory approvals for cross-border investments, especially in sectors like real estate, fintech, and renewable energy, would encourage more capital flows,' Stevens said. He added that the UAE's sovereign wealth funds (SWFs) have shown strong interest in India's consumer and infrastructure sectors, so targeted incentives for long-term investments – such as tax breaks or fast-tracked approvals – could accelerate funding. He said capital and investments are already flowing between the two nations, citing the examples of Abu Dhabi Investment Authority's (ADIA) $500 million investment in India-based eyewear retailer Lenskart in 2023, and its move to set up a $4 billion fund to invest further in the following year. 'Several sovereign wealth funds from the Middle East have invested in highways and other infrastructure. In the opposite direction, Indian entrepreneurs are building on their successes in the UAE and benefiting from the expansion of the Emirates' capital markets,' Stevens said, citing the $1.72 billion IPO of Lulu Retail in 2024 as a recent example. Stevens also pointed out that Indian investors are the largest foreign owners of real estate in the UAE, with investments valued at around $30 billion. Still, despite this strong momentum, Stevens cautioned that hurdles remain. 'Regulatory complexities in India, including bureaucratic delays in approvals and land acquisitions, remain a challenge. India's taxation policies and retrospective regulatory changes sometimes create uncertainty for foreign investors,' Stevens said. He also cited the issue of currency volatility – such as the rupee's depreciation – as another challenge which poses risks for long-term investments, discouraging some UAE-based funds from increasing exposure. 'Another issue is limited diversification in investment sectors. Most UAE investments in India are concentrated in real estate, infrastructure, and energy, while opportunities in manufacturing, technology, and healthcare remain underleveraged. Conversely, Indian investments in the UAE are heavily skewed toward real estate, with fewer ventures in high-value sectors like finance and logistics,' Stevens said. Beyond trade barriers As global trade faces mounting pressures, experts say the UAE's broader strategy of 'strategic interdependence' may offer a model for insulating economies from tariff shocks. 'It's not about strategic autonomy anymore. It's about creating strategic interdependence, because that's the only way with which we can collectively survive in a world where multilateral action is receding,' Dr Khalifa Al Suwaidi, Research Fellow at Abu Dhabi's Anwar Gargash Diplomatic Academy, told Arabian Business in a recent interview. The UAE's approach to international trade agreements demonstrates a significant shift from traditional tariff reduction to embedding deeper, multi-sector cooperation. 'The UAE embeds its relations with countries through CEPAs in a way that helps these relationships outlive incumbents, whether they are democratically elected or otherwise,' Al Suwaidi explained. 'It's still leader-to-leader diplomacy, which the UAE has been adept at for quite some time, but it's now morphing into something enshrined in formal agreements that extend across multiple spheres and sectors.' This strategy is increasingly relevant as Trump's tariffs target major economies, including China, the EU, Canada, Mexico, Japan, and South Korea—leaving US businesses expected to pay between $1 billion to $2 billion per day in tariff costs, according to CNBC. So far, Gulf Cooperation Council (GCC) countries have largely been exempt. For countries bracing against the effects of global trade shocks, the UAE's diversification plan is being watched closely. 'The UAE's CEPA strategy has been designed to develop a diversified trade portfolio and become a trade hub,' said Mahdi Ghuloom, Junior Fellow in Geopolitics at the Observer Research Foundation Middle East. 'While Trump's tariffs are a separate issue, the UAE's CEPA push reflects foresight and an effort to insulate itself from global trade volatility.' This aligns with the country's goal of reaching AED4 trillion (approximately $1.09 trillion) in trade by 2031. 'The scale of diversification reduces reliance on any one bloc of markets,' Ghuloom added, noting that when CEPAs proliferate, they help mitigate negative shocks from specific trading partners. 'The UAE's CEPAs include provisions on investment, competition, and public procurement. This signals regulatory maturity and strengthens the UAE's credibility as a destination for long-term investment,' he explained. As countries worldwide respond to US tariffs with retaliatory measures – such as Canada imposing 25 per cent tariffs on US goods and China introducing new tariffs on critical minerals – the India-Middle East corridor presents a rising alternative to traditional trade routes. Stevens added that the potential for trade growth between the UAE and India, the need to diversify the economic base of Middle Eastern economies and India's focus on labour-intensive growth will create a range of opportunities for investors looking to profit from the next chapter of globalisation. 'Flexible, non-recourse financing can be a compelling funding solution for long-term shareholders with an eye on this tremendous potential,' Stevens said.
TAG 91.1
10-04-2025
- Business
- TAG 91.1
H.H. Sheikh Hamdan concludes India visit
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, has concluded his first official visit to India. He held talks with Prime Minister Narendra Modi and other senior leaders to strengthen ties between the two countries. During the visit, eight key agreements were signed covering areas like healthcare, education, infrastructure and maritime services. These build on the momentum of the 2022 UAE-India Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT), which have created a strong foundation for a more open, secure and investment-friendly economic relationship. Sheikh Hamdan praised the strong and growing partnership between the UAE and India, calling it a model of mutual trust and shared ambition. He also highlighted the important role of trade, innovation and technology in shaping a brighter, more connected future for both nations. In a message shared at the end of his trip, Sheikh Hamdan thanked Prime Minister Modi and the Indian people for their warm hospitality. As I conclude my visit to India, I extend my heartfelt gratitude to Prime Minister @NarendraModi, as well as to government and people of India for their warm welcome and generous hospitality. The UAE and India share civilizational ties that span centuries. Today, we move forward… — Hamdan bin Mohammed (@HamdanMohammed) April 10, 2025 Hamdan bin Mohammed concludes first official visit to India. His Highness commended the longstanding partnership between the two nations in the journey toward a prosperous future, saying that the relationship is rooted in mutual trust and respect. — Dubai Media Office (@DXBMediaOffice) April 10, 2025
Dubai Eye
10-04-2025
- Business
- Dubai Eye
H.H. Sheikh Hamdan concludes India visit
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, has concluded his first official visit to India. He held talks with Prime Minister Narendra Modi and other senior leaders to strengthen ties between the two countries. During the visit, eight key agreements were signed covering areas like healthcare, education, infrastructure and maritime services. These build on the momentum of the 2022 UAE-India Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT), which have created a strong foundation for a more open, secure and investment-friendly economic relationship. Sheikh Hamdan praised the strong and growing partnership between the UAE and India, calling it a model of mutual trust and shared ambition. He also highlighted the important role of trade, innovation and technology in shaping a brighter, more connected future for both nations. In a message shared at the end of his trip, Sheikh Hamdan thanked Prime Minister Modi and the Indian people for their warm hospitality. As I conclude my visit to India, I extend my heartfelt gratitude to Prime Minister @NarendraModi, as well as to government and people of India for their warm welcome and generous hospitality. The UAE and India share civilizational ties that span centuries. Today, we move forward… — Hamdan bin Mohammed (@HamdanMohammed) April 10, 2025 Hamdan bin Mohammed concludes first official visit to India. His Highness commended the longstanding partnership between the two nations in the journey toward a prosperous future, saying that the relationship is rooted in mutual trust and respect. — Dubai Media Office (@DXBMediaOffice) April 10, 2025
