India-UAE Strengthen Ties: Piyush Goyal Highlights Growing Partnership at Dubai-India Business Forum

In his speech, Shri Goyal extended a warm welcome to His Highness, reflecting on the deep historical and cultural ties shared between the two cities.

Shri Piyush Goyal, Union Minister of Commerce and Industry, delivered a powerful address at the Dubai-India Business Forum in Mumbai, highlighting the growing partnership between India and the UAE. The event, organized by Dubai Chambers, saw the participation of His Highness Sheikh Hamdan bin Mohammad Al Maktoum, the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, marking his first official visit to India.

In his speech, Shri Goyal extended a warm welcome to His Highness, reflecting on the deep historical and cultural ties shared between the two cities. He acknowledged that this year marks the centenary of Sheikh Saeed Al Maktoum’s visit to India, the grandfather of Sheikh Hamdan, underscoring the enduring bond between Mumbai and Dubai. Shri Goyal noted that both cities have long shared a welcoming spirit and strong commercial and cultural exchanges, built on centuries of mutual respect and understanding.

The Minister took a moment to commend Dubai’s significant contributions to social welfare, including the establishment of the first hospital for Indian workers in Dubai, a gesture that he described as "heartwarming" and expressed gratitude on behalf of the Indian community. This initiative, which serves as a beacon of Dubai’s commitment to the welfare of the Indian diaspora, was a key highlight of the address.

Emphasizing the special relationship between India and the UAE, Shri Goyal highlighted the frequent exchanges at the highest levels of leadership between both nations. He noted that in just two years, there had been six high-level visits between India and the UAE—three by Prime Minister Narendra Modi and three by senior UAE leaders—demonstrating the close strategic ties and growing partnership between the two countries. This intense diplomatic engagement is a testament to the trust and camaraderie that defines the India-UAE relationship.

A key point of discussion was the UAE’s support in the development of the Swaminarayan Hindu Temple in Abu Dhabi, which Shri Goyal described as a “symbol of mutual respect and shared values.” He also acknowledged the UAE’s crucial role in facilitating India’s outreach to Africa and its investments in logistics, infrastructure, and digital connectivity. The Minister specifically lauded the contribution of DP World, which has played a transformative role in enhancing India’s logistics infrastructure.

Referring to the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, Shri Goyal emphasized its significance in deepening economic ties. He expressed optimism about achieving the target of $100 billion in non-oil trade, noting that the growth in trade between the two countries has been rapid and inspiring. The CEPA, which has been a defining milestone, has laid a solid foundation for future economic collaboration between the two nations.

The Minister also highlighted the educational initiatives that reflect India and the UAE's growing cooperation in knowledge-sharing and skill development. Shri Goyal pointed out that India has already launched an IIT campus in Dubai and is planning to set up campuses of the Indian Institute of Management (IIM) and the Indian Institute of Foreign Trade (IIFT) in the UAE. These initiatives are aimed at furthering educational collaboration and strengthening ties between the two countries in the field of higher education.

Furthermore, Shri Goyal spoke of Dubai’s pivotal role as a crucial gateway for India’s trade and cultural exchange with the broader Middle East region. He expressed gratitude for the UAE’s steadfast support for the Indian diaspora, particularly during the challenging times of the COVID-19 pandemic. With over 2 million Indians residing in the UAE, the Minister emphasized how the UAE has treated the Indian community as its own family, offering both support and care during the crisis.

In his address, Shri Goyal also cited a quote from Prime Minister Narendra Modi, stating, “India is not just a workforce, we are a world force.” He highlighted India’s remarkable economic progress, noting that the country is poised to become the fourth-largest economy globally by the end of 2025, and the third-largest by 2027. India, currently a $4 trillion economy, aims to achieve a GDP of $30-35 trillion by 2047, the centenary of its independence. With this vision, Shri Goyal invited Dubai to be an active partner in India’s ambitious journey toward becoming a developed nation.

The Minister urged businesses from both countries to explore new avenues of collaboration in emerging sectors such as nuclear energy, critical minerals, renewable energy, green hydrogen, fintech, artificial intelligence, food security, and advanced manufacturing. He described these areas as just the "tip of the iceberg," with many more opportunities waiting to be explored. Shri Goyal expressed confidence that the leadership and business communities of both nations would continue to inspire even greater achievements in the future, making the India-UAE partnership even more robust and multifaceted.

The Dubai-India Business Forum served as a significant platform for reaffirming the strategic relationship between India and the UAE and exploring new opportunities for growth in business, education, and beyond.