India & Dubai share a long history of people-to-people connect which translates to a strong economic relationship. Dubai is home to more than 1 million Indians, making it the largest Indian population in a city outside India. The G2G relationship between India and UAE has also strengthened exponentially in the last few years. The signing of Comprehensive Economic Partnership Agreement (CEPA) between India and UAE in record 88 days is a testament to this strengthening relationship. Signed on 18th February, 2022 and in force from 1st May, 2022, CEPA is expected to boost India UAE trade to USD 100Billion over 5 years.

Dubai in January, 2023 announced Dubai Economic Agenda D33 with the main objective of doubling the size of Dubai’s Economy over next 10 years by growing foreign trade from AED 14.2 trillion in the last decade to AED 25.6 trillion in the next decade and increasing the average foreign direct investment in Dubai from AED 32 Billion annually in the last 10 years to AED 60 Billion annually in next 10 years to reach a total of AED 650 Billion by 2033. Dubai has also developed itself as a leading startup ecosystem in the region. India on the other side has a thriving startup ecosystem with over 100 Unicorns and an increasing number being added each year to the Unicorn club. India also is focusing to strengthen its manufacturing base through initiatives like the Production Linked Incentive (PLI) Scheme. India and Dubai share a symbiotic business ecosystem that can support the economic aspirations of either side.