India-UAE Target $200 Billion Trade by 2032, Focus on Bridging $27 Billion Deficit

• India and UAE aim to double bilateral trade to $200 billion by 2032, announced during President Sheikh Mohamed bin Zayed Al Nahyan's visit to New Delhi.
• The goal is to accelerate Indian exports and address the current trade deficit with the UAE, which has widened to nearly $27 billion.
• Despite the Comprehensive Economic Partnership Agreement (CEPA) in 2022, India's imports from UAE, especially energy products, have surged faster than exports.
• Defense and security cooperation was reaffirmed as a key pillar, with a Letter of Intent signed for a Strategic Defense Partnership.
• While traditional exports like petroleum products and auto components declined, high-value sectors like telecom instruments, precious stones, and gold showed strong growth, offering new export opportunities.

Why It Matters: India and UAE target $200 billion trade by 2032, prioritizing deficit reduction through diversified Indian exports.