A view of the port of Jebel Ali. Trade between the UAE and India is set to rise from $72.9 billion to $84.5 billion between 2021 and 2023.

The UAE and India will exceed the $100 billion non-oil trade target by 2030, with increased air links between the two countries seen as a potential catalyst.

Bilateral trade has increased by 15% since the implementation of the Comprehensive Economic Partnership Agreement (Cepa) in May 2022, the Indian government-owned Press Trust of India reported, citing Cepa Board Director Ahmed Aljneibi.

Trade between the UAE and India has risen from $73 billion to $84 billion between 2021 and 2023. In addition, foreign direct investment in India from the Gulf States rose to $3.3 billion last year.

Aljneibi said that partnerships in financial technologies, educational technologies, health technologies and clean technologies are likely to propel the next phase of the UAE and India's joint growth story.

The official said there is great potential for improving air transport and air cargo links between the two countries, citing the relatively low bilateral seat capacity agreements between UAE and Indian airlines.

At present, seat-sharing capacity stands at 134,000 passengers per week, and freight capacity at 4,000 tonnes per week.

Aljneibi expects Emirati and Indian carriers to benefit fully from the strategic partnership, which has evolved since Cepa was signed.

Pramod Kumar