India, UAE set target of $200 billion in annual trade by 2032
India and the United Arab Emirates (UAE) have unveiled plans for a strategic defence partnership and finalized an LNG pact, as Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan set a target of $200 billion in annual trade by 2032 while outlining a broad agenda to strengthen bilateral ties. In 2024-25, the volume of two-way trade between the two sides was $100 billion.
Within the framework of their defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism. Another deal was finalized in which Abu Dhabi National Oil Company Gas will supply 0.5 million metric tonnes of LNG annually to Hindustan Petroleum Corporation over a ten-year span starting from 2028.
The UAE is India's second-largest supplier of LNG to India after Qatar. Further, both sides also decided to explore collaboration in advanced nuclear technologies, including the development of large nuclear reactors and small modular reactors, along with cooperation in advanced reactor systems, nuclear power plant operations and maintenance and nuclear safety.
