Dubai Chambers Leads Business Delegation to Boost India Trade

Dubai’s non-oil trade with India reached AED 142 billion in the first nine months of 2024. This represents a 19% increase from the previous year. Dubai Chambers enhanced this partnership by taking a high-profile business delegation to Mumbai. The delegation included 39 leading Dubai business leaders who met with more than 200 senior officials and investors at the Dubai-India Business Forum.

India has become Dubai’s second-largest non-oil trading partner, with trade between both regions hitting $46 billion in 2023. Dubai Chamber of Commerce now has 72,651 active Indian companies registered. The first quarter of 2025 saw 4,563 new Indian companies joining the chamber. This reliable partnership has made India the leading source of foreign direct investments in Dubai. Indian investments account for 21.5% of the capital share through 276 projects worth $2.3 billion in 2024.

Dubai Chambers Forges Strategic Partnerships with 200 Indian Business Leaders

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Dubai Chambers hosted a major business gathering in Mumbai that brought together more than 200 officials and investors to boost economic ties between Dubai and India. A delegation of 39 prominent Dubai business leaders explored investment opportunities and formed mutually beneficial alliances with their Indian counterparts.

Sheik Hamdan’s Visit Strengthens Bilateral Relations

The Dubai-India Business Forum took place during His Highness Sheik Hamdan bin Mohammed bin Rashid Al Maktoum’s official visit. Sheik Hamdan, who serves as Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense of the UAE, made his first official trip to India. This visit highlighted the importance of bilateral relationships between the nations.

Sheik Hamdan met Indian Prime Minister Narendra Modi in New Delhi to discuss ways to deepen partnerships between both countries. He conveyed greetings from UAE leadership, including President Sheik Mohamed bin Zayed Al Nahyan and Vice President Sheik Mohammed bin Rashid Al Maktoum.

The leaders stressed the need to strengthen ties in several key areas:

• Investment and trade
• Tourism and infrastructure
• Energy and food security
• Advanced technology and artificial intelligence
• Digital transformation and space exploration

Sheik Hamdan also met Defense Minister Rajnath Singh, who expressed India’s interest in working with the UAE on defense cooperation, co-production, and co-development projects. External Affairs Minister S. Jaishankar joined discussions about their wide-ranging cooperation.

Forum Marks Third Anniversary of UAE-India CEPA

The business forum aligned with the third anniversary of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India. CEPA, signed on February 18, 2022, stands as a milestone in bilateral economic relations. It represents UAE’s first bilateral agreement under its global economic agreements program and India’s first CEPA with any Middle East and North African country.

Ahmad bin Byat, Vice Chairman of Dubai Chambers, said: “As we mark the third anniversary of the CEPA between the UAE and India, we are confident bilateral trade will continue to accelerate and flourish over the long term.”

Bilateral merchandise trade between the nations has nearly doubled from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in FY 2023-24. The agreement aims to increase bilateral non-oil trade to AED 367.19 billion each year by 2030.

The partnership has led to 240,000 Certificates of Origin being issued, which helped exports worth USD 19.87 billion reach the UAE under preferential duties. This agreement has strengthened economic relations by creating business opportunities, enabling MSMEs, and creating jobs.

Trade Volume Surges to AED142 Billion Between Dubai and India

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Economic ties between the UAE and India have reached new heights. Bilateral trade between Dubai and India has climbed to AED142 billion in the first nine months of 2024. This achievement highlights their stronger economic bonds after implementing the Comprehensive Economic Partnership Agreement (CEPA) in 2022.

19% Year-Over-Year Growth Demonstrates Market Resilience

Trade volume has jumped by 19% compared to last year, which shows the dynamic economic relationship between these regions. Dubai-India trade has grown steadily from AED134.76 billion in 2019 to AED166.71 billion in 2023. Bilateral exchanges between the UAE and India have multiplied from just USAED660.95 million yearly in the 1970s to USAED307.16 billion in FY 2023-24. This surge continues the upward trend, supported by mutually beneficial alliances.

Non-Oil Trade Dominates Exchange Portfolio

Dubai handles about 85% of the UAE‘s non-oil trade with India. The UAE-India CEPA aimed to reach AED367.19 billion in annual non-oil trade by 2030. Current trends suggest they will hit this target early. India stands as UAE’s top non-oil export destination in 2024, claiming 13.5% of total exports with a remarkable 75.2% year-on-year growth. This shift away from oil-based trade shows both countries’ steadfast dedication to building diverse economic bonds.

Key Sectors Driving Trade Growth

These industries have become the backbone of this thriving trade partnership:

• Gems and jewelry: Leads with 34.4% of India’s exports to UAE between 2016-2021 and reached USAED29.49 billion in 2023-24
• Petroleum products: Worth USAED24.75 billion in Indian exports to UAE (2023-24)
• Engineering goods: Accounts for USAED21.66 billion in exports from India
• Electronic goods: Reached USAED12.19 billion in trade volume
• Organic and inorganic chemicals: Added USAED10.21 billion

Both nations have expanded their cooperation into new areas like artificial intelligence, innovative healthcare, renewable energy, fintech, and critical minerals. This expansion shows how their partnership continues to evolve and grow.

Indian Companies Establish Dubai as Their Global Gateway

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Indian businesses have gained an unprecedented position in Dubai’s commercial ecosystem and created a powerful economic bridge between the two regions. The Dubai Chamber of Commerce has registered 72,651 active Indian companies as members, making them the largest foreign business community in the emirate.

Over 72,000 Active Indian Businesses Revolutionize Dubai’s Commercial World

Indian companies in Dubai show remarkable growth. Their numbers surged by 173.7% from 25,795 businesses in 2015 to over 70,600 by the end of 2024. These enterprises operate in a variety of sectors. More than half (36,595 companies) run trading and service operations. Real estate and business services follow with 17,631 companies, while construction accounts for 12,281. Indian entrepreneurs have fundamentally changed Dubai’s business environment by leveraging the emirate’s strategic advantages.

Indian business leaders see Dubai as more than a regional hub – it serves as a gateway to global markets. The emirate’s location between Asia, Africa, and Europe makes it an ideal base for international expansion. Dubai’s business-friendly environment creates exceptional opportunities for Indian enterprises to grow worldwide, especially when you have access to Middle East and North African markets with over 1 billion potential customers.

Q1 2025 Witnesses 16.2% Growth in New Indian Company Registrations

The first quarter of 2025 showed continued momentum. The Dubai Chamber of Commerce welcomed 4,563 new Indian companies, marking a 16.2% year-over-year increase. Indian investors now lead among foreign businesses operating in Dubai. This growth stems from the emirate’s many competitive advantages: zero personal or business taxes, efficient regulatory processes, and reliable infrastructure.

Dubai Chambers’ representative office in Mumbai, established in 2018, plays a crucial role in this expansion. The office helps Indian companies enter Dubai by guiding them through regulations and building mutually beneficial alliances. Both Dubai and India heavily invest in future-facing sectors like AI, fintech, logistics, clean energy, and digital transformation. This alignment creates fertile ground for continued business growth.

Business Leaders Explore Future Collaboration Frameworks

Leaders from Dubai and India met at the Dubai-India Business Forum. They created detailed plans for future economic teamwork that went beyond regular trade. Sheik Hamdan bin Mohammed and the Indian Prime Minister discussed ways to launch new joint ventures in key sectors.

Panel Discussion Highlights Expansion Opportunities

The forum featured deep discussions about growing two-way investments through new economic frameworks. Sheik Hamdan believed the next phase of cooperation would bring major gains in strategic areas like investment, trade, tourism, infrastructure, logistics, energy, food security, and advanced technology. Both sides wanted to create strong incentives for greater investment by using the Comprehensive Economic Partnership Agreement and Bilateral Investment Treaty effectively.

“The partnership covers vital sectors like healthcare, education, defense, and other key areas on both countries’ development agendas,” noted Sheik Hamdan. The talks focused on increasing mutual investment and stronger collaboration between private sectors in both countries.

Dubai Positions Itself as Strategic Launchpad for Global Market Access

Dubai showed its strength as a crucial gateway for Indian businesses looking to expand globally. The city’s strategic location between Asia, Europe, and Africa gives Indian companies exceptional access to global markets. Indian businesses now use UAE’s world-class ports and logistics infrastructure more often to re-export goods worldwide.

Dubai’s competitive advantages stood out clearly:

• A four-hour flight radius reaching half the world’s population with over 250 flights daily
• Twenty-seven specialized free zones that aid business operations
• Zero percent personal income tax, 5% VAT, and 9% corporate tax

The Dubai Economic Agenda 2033 (D33) wants to double the economy within the next decade. This plan will place Dubai among the top four global financial centers.

Digital Transformation Accelerates Cross-Border Business Operations

Digital breakthroughs became a central theme for future collaboration. The UAE ranked first in the MENA region and third globally in government digital transformation according to the World Bank’s 2022 GovTech Maturity Index. This digital leadership created over 200,000 jobs and led to a remarkable 916% annual growth in digital startups.

Digital payment systems, AI-driven services, and blockchain solutions now make cross-border business operations smoother. The Dubai Chamber of Digital Economy also announced new laws to support small and digital businesses. These laws aim to nurture homegrown unicorns—companies valued at over AED 3.67 billion.

Dubai and India share a powerful economic bond that shows in their remarkable trade growth and strategic collaborations. Their non-oil trade reached AED 142 billion in the first nine months of 2024. The Dubai-India Business Forum coincided with CEPA’s third anniversary and brought these partners closer through better dialog and understanding.

Dubai has become a magnet for Indian businesses with 72,651 active Indian companies. The city welcomed 4,563 new registrations in Q1 2025, which proves its position as a global business hub. Sheik Hamdan’s visit set up frameworks that opened doors to cooperation in advanced technology and infrastructure development.

Dubai leads digital transformation in the MENA region. This leadership creates opportunities for businesses to operate across borders. Indian companies can now access global markets through Dubai’s strong regulatory processes and innovative technologies. The partnership between Dubai and India aims to reach AED 367.19 billion in annual non-oil trade before 2030. This is a big deal as it means that they will create a blueprint for successful international economic cooperation.