The meeting emphasized the importance of enhancing the India-Russia trade partnership, which has seen a significant boost in various sectors, including defense, energy, and technology. Russian Deputy Prime Minister Denis Manturov highlighted Russia’s commitment to deepening economic ties with India, stressing the potential for growth in sectors such as energy, pharmaceuticals, and technology. Both sides expressed optimism about reaching the ambitious $100 billion trade target, driven by mutual investments and strategic collaborations.
Meanwhile, discussions with UAE officials centered around the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which has already led to a notable increase in bilateral trade. India's Commerce Minister, Piyush Goyal, underscored the multifaceted nature of the India-UAE partnership, which spans across space exploration, security, education, and climate action. He praised the leadership of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi for their roles in elevating the bilateral relationship.
The talks also included the establishment of a Bharat Park in the Jebel Ali Free Zone, guided by Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group. This initiative aims to facilitate international trade and enhance India's global visibility. Additionally, significant investments were highlighted, such as the construction of a shopping mall in Kashmir, spearheaded by Yousuf Ali Abdulqader, Vice Chairman of the Abu Dhabi Chamber of Commerce.
India's demographic advantage and young population were focal points during the meeting, with Goyal inviting investors to participate in India's growth story. The discussions also addressed direct trade between the Indian rupee and the UAE dirham, as well as collaborations on the India-Middle East-Europe economic corridor.
These strategic dialogues underscore the shared vision for a robust economic partnership, aiming to foster mutual growth and prosperity across various sectors.