NEW DELHI: Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, the crown prince of Dubai, met Prime Minister Narendra Modi and Cabinet officials on Tuesday when he arrived in New Delhi for his first formal visit to India. Sheikh Hamdan is leading a group of ministers, high-ranking government officials, and business executives on a two-day trip to Mumbai and New Delhi. Since the 2022 UAE-India Comprehensive Economic Partnership Agreement, which removed trade obstacles, reduced tariffs, and simplified corporate operations, India’s economic relations with Dubai have been expanding quickly. This has made it simpler for businesses in both nations to access each other’s markets.
“The India-UAE Comprehensive Strategic Partnership has advanced thanks in large part to Dubai. Following the meeting, Modi said on X, “This special visit reaffirms our deep-rooted friendship and paves the way for even stronger collaboration in the future.” According to figures from the emirate’s media office, trade between Dubai and India increased from $36.7 billion in 2019 to around $45.4 billion in 2023.
With over $3 billion in foreign direct investment across a range of industries, including business services, software and IT services, consumer goods, food and beverage, and real estate, India was Dubai’s largest investor in 2024. Over 70,000 Indian businesses were members of the Dubai Chamber of Commerce as of last year.
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