Growing Economic Relations – Case Study of India & United Arab Emirates
Keywords:
India-UAE Bilateral Trade, Investment relations, Recent bilateral visits, Important sectors for investmentAbstract
Trade and Investment is one of the most important part of relations between two countries & Fortunately in case of India-UAE these ties are deep rooted. Both the countries enjoy strong bond of Friendship and economic relations are too strong that UAE is currently the 3rd Largest Trade Partner with India & India is the largest trade Partner of UAE with total Bilateral Trade crossing $52 Billion in 2016-17.
High-Level Delegations are taking place frequently between both the countries to strengthen bilateral relations.UAE has invited India as the ‘Guest of Honor’ in the upcoming ‘World Government Summit’ which is going to be held in February 2018 in Dubai which is a sign of growing Bilateral relations.
In the light of such growing relations, this paper hasput light on the recent developments between India-UAE in terms of Investments,Trade& increased bilateral visits between both the countries. Notably, it has been seen that exports to UAE needs to be encouraged and diversified. More focused and region-specific strategy to boost trade is required to achieve the target of $100 billion trade by 2030. Investments between India and UAE is on the right track but more& morehigh-level bilateral visitsare advisable to attract investments.More Focus Product/Focus Market Approach is recommended to boost trade. In few words, India-UAE economic relations are on the fastest growing pace and hope to boost further in the coming years.
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