India and the UAE have shared long-standing, close ties that can be traced as far back historically as 3,000BC. For centuries traders have embarked on journeys between the Arabian Gulf and the Indian Ocean to barter pearls, dates, cotton, textiles, dry fruits and grains.
Moreover, the UAE is now India’s top export destination, accounting for more than 10 per cent of its tangible exports and significantly boosting India’s growth factor. Among the goods traded, gold represents the largest share of the imports and exports, followed by cellular and wired communication devices, diamonds, cars, jewellery and raw aluminium. India is poised to become the UAE’s biggest export destination by 2030, accounting for an estimated 14 per cent of all goods exported.
Since the establishment of the UAE Federation in 1971, relations between the two countries have continued to flourish. Growing Indo-UAE economic ties have contributed valuable stability and strength to the bilateral relationship the two countries enjoy today.
Contributed By Sonia Narula