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India-UAE Trade Nears Pre-War Levels, Piyush Goyal Says
India and the United Arab Emirates trade many goods and services with each other.
Piyush Goyal said this trade is almost back to the level it had before the war.
He expects it to return to normal in a few months.
The war mentioned in the report has affected trade.
India and the UAE traded more than $100 billion last year.
They want to double that amount by 2032.
The countries are also working together on energy, technology, ports and food security.
The UAE has invested $25 billion in India and plans to invest another $25 billion.
Piyush Goyal said India-UAE trade could return to pre-war levels within a few months.
Trade has been affected by the Iran-US war, according to Goyal.
Bilateral trade exceeded $100 billion last year, with plans to double it by 2032.
India and the UAE discussed cooperation in energy, space, shipbuilding, ports, food security and AI.
The UAE has invested $25 billion in India and committed another $25 billion.
- Who
- India and the United Arab Emirates, with comments from Indian Commerce and Industry Minister Piyush Goyal.
- What
- Bilateral trade is nearing pre-war levels, while the countries pursue expanded trade, investment and strategic cooperation.
- Where
- At the 14th India-UAE high-level joint task force meeting.
- When
- Goyal made the comments on September 28, 2026; he said normalization could take a few months.
- Why
- Trade was affected by the Iran-US war, prompting both countries to discuss restoring and expanding commercial ties.
Key facts
- Bilateral trade last year
- More than $100 billion
- Trade target
- India and the UAE plan to double bilateral trade by 2032
- India-UAE economic agreement
- A comprehensive economic partnership agreement was signed in 2022
- UAE investment in India
- $25 billion invested so far
- Additional UAE commitment
- Another $25 billion committed for investment in India
- India’s export growth
- Goods and services exports rose 15% in the first six months of FY27
- Local-currency settlement
- Trade settlement in local currencies is currently in the double digits
Quotes
Piyush Goyal
India’s Union Minister for Commerce and Industry
“Trade settlement in local currencies is also slowly increasing as exporters realise the benefits. Currently, it is in double digits and we hope it will grow further.”
thehindubusinessline.com
“Trade between India and the UAE is coming back to pre-war levels. We are very close to it and in another few months we should get back to normal.”
thehindubusinessline.com
Sources
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