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India-UAE trade is on track to expand significantly towards the USD 200 billion target by 2032, with the growing role of BRICS and stronger investment linkages expected to create fresh opportunities for businesses from both countries, according to Mohammad Haseeb, Strategic Country Manager, Ras Al Khaimah Economic Zone.
Speaking to ANI on the sidelines of the iBRICS Summit 2026, Haseeb said bilateral trade currently stands at around USD 101 billion, up from about USD 73 billion before the India-UAE Comprehensive Economic Partnership Agreement (CEPA), highlighting the impact of closer economic ties between the two countries. "We have a target around 200 billion by 2032. So that is a huge," Haseeb said, adding that the next challenge was to increase awareness among businesses about the benefits available under the trade agreement. He said India had received nearly USD 25 billion in UAE investment over the past two decades, while another USD 5 billion investment commitment was made recently. More than 200,000 Indian companies are operating in the UAE, he added, underlining the depth of the commercial relationship. Haseeb said the relationship had expanded beyond trade and investment into tourism, technology and people-to-people ties. Around 4.5 million Indians live in the UAE, while the two countries have also developed cooperation in areas such as Unified Payments Interface (UPI), virtual corridors and emerging technologies. On BRICS, Haseeb said the UAE's participation in the grouping, while India holds the chairmanship, could provide an additional platform for expanding trade and investment. He said the summit had demonstrated an inclusive approach and highlighted new opportunities, particularly for startups. "I see is a great growth and it's very inclusive growth along with the BRICS nations. And we see that a lot of trade investment is going to come," he said. Haseeb also pointed to growing investment engagement between Indian states and the UAE. He said delegations from Punjab, Bihar, Madhya Pradesh and Odisha had recently visited the UAE to explore investment opportunities, while UAE investors were also engaging with India. He said greater awareness of CEPA benefits and sustained investment engagement would be crucial to achieving the USD 200 billion trade target. "I'm very sure that we can achieve the 200 billion target," Haseeb said. (ANI)
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