India and UAE Strengthen Ties in Pharma and Healthcare Trade

India and the UAE are focusing on enhancing trade in pharmaceuticals and healthcare products to boost economic ties. Progress on the free trade agreement and opportunities in traditional medicine were also discussed, aiming for $100 billion in non-oil, non-metals trade by 2030.

In efforts to bolster economic relations, India and the UAE have initiated discussions to enhance trade in pharmaceuticals and healthcare products, according to the commerce ministry.

During a recent meeting between Commerce Minister Piyush Goyal and UAE's Foreign Trade Minister Thani bin Ahmed Al Zeyoudi, both countries cited mutual interests in expediting regulatory processes and carrying out inspections. The discourse highlighted the significance of the pharma sector amid geopolitical challenges.

Apart from pharmaceuticals, the focus was also on traditional medicine, particularly Ayurveda, under the bilateral partnership. Review of the ongoing free trade agreement pointed towards achieving an ambitious $100 billion target in non-oil, non-precious metals trade by 2030.

(With inputs from agencies.)