The UAE’s economic, political and cultural links with India, which date back to more than a century ago, are matured and multi-dimensional. Bilateral trade has been steadily growing over the years and people-to-people contacts are constantly on the increase. Tourists from both sides are visiting for leisure and pleasure, and more and more UAE nationals are availing of healthcare and tourism facilities in India.
Close bonds between the Indian community and the nationals can be judged from the fact that the Indian community is the largest expatriate community in the UAE, numbering about 1.5 million. Strong bonds of friendship between the UAE and India are poised to be further diversified and strengthened in months and years to come.
- The UAE and India added a new momentum to their deepening bilateral engagement, signing a total of 14 wide-ranging agreements including a strategic comprehensive partnership and deals on defence and maritime cooperation.
- Indian exports to UAE mainly include gems and jewelry, vegetables, fruit, spices, engineering goods, tea, meat and its preparations, rice, textiles and apparel and chemicals. Indian imports from UAE mainly include crude & petroleum products, gold & silver, pearls, precious and semiprecious stones, metal ores & metal scrap, electronics goods and transport equipment.
- UAE has invested over USD 5 billion in India through FDI (Foreign Direct Investment) and FII (Foreign Institutional Investors) routes which makes UAE is one of the top investor in India. The major UAE companies invested in India are DP world, Emaar Group, Al Nakheel, ETA Star Group, SS Lootah Group, Emirates Techno Casting FZE, RAK Investment Authority, Damas Jewellery and Abu Dhabi Commercial Bank.
- India is also a third largest investor in UAE. Indian companies like L&T, Punj Lloyd, Hinduja Group, Pioneer Cement, Oberoi Group of Hotels, have bagged projects in the UAE. Indian companies have emerged as important investors in the free trade zones such as Jebel Ali FTZ, Sharjah Airport, Hamariya Free Zones and Abu Dhabi Industrial City.