Dubai, United Arab Emirates: In a landmark step to further strengthen the India-UAE economic partnership, a high-level closed-door meeting hosted by the UAE-India Business Council - UAE Chapter (UIBC-UC) was convened today in Dubai, bringing together top officials and business leaders from both nations.

The meeting was attended by H.E. Piyush Goyal, Hon. Commerce and Industry Minister, Government of India, and H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, underscoring the strategic importance both governments place on deepening bilateral economic ties.

Representing the diplomatic corps, H.E. Sunjay Sudhir, Indian Ambassador to the UAE, and H.E. Satish Kumar Sivan, Consul General of India in Dubai, lauded the rapid strides made in strengthening India-UAE relations and specifically commended the pivotal role played by the UIBC-UC in this journey. Shri Aseem R. Mahajan, Additional Secretary (Gulf), Ministry of External Affairs was also in attendance.

Key members of UIBC-UC were present, including Mr. Faizal Kottikollon, Chairman of KEF Holdings and Chairman of the UIBC-UAE Chapter; Mr. Rizwan Soomar, CEO & Managing Director – Middle East, North Africa & India Subcontinent, DP World, and Co-Chair of the UIBC-UAE Chapter; and H.E. Major General (Retd.) Sharafuddin Sharaf, Vice Chairman of Sharaf Group and member of the UIBC-UAE Chapter.

Also in attendance were board members of UIBC-UC, including: Mr. Nilesh Ved, Chairman of Apparel Group; and Mr. Ankur Gupta, Head of Corporate Affairs & Growth, MENA at Tata Sons.

The meeting was further enriched by the presence of UIBC-UC’s founding members: Mr. Siddharth Balachandran, Executive Chairman and CEO of Buimerc Corporation; Mr. Amit Jain, Group CEO of Emaar; Mr. Rikant Pittie, Co-Founder at EaseMyTrip and Mr. Neeraj Makin, Senior Executive Vice President and Group Head – Strategy, Analytics & Venture Capital at Emirates NBD. They were joined by secretariat members Kshitij Korde and Neha Sahni, who played an instrumental role in facilitating the dialogue.

A central focus of the discussions was the Comprehensive Economic Partnership Agreement (CEPA) and its transformative impact on the India-UAE economic corridor. In the first half of 2025 alone, the agreement enabled a record US$37.6 billion in non-oil bilateral trade—a 33.9% increase over the same period last year. CEPA’s success has extended well beyond trade volumes, driving sectoral diversification with strong growth in areas such as gems and jewellery, food processing, telecom, green energy, and digital services.

Moreover, CEPA has catalysed new collaboration across emerging sectors including artificial intelligence, space technology, sustainability, and financial integration, significantly expanding the strategic scope of the partnership. Indian states are increasingly leveraging CEPA to attract targeted investments, integrate small and medium enterprises (SMEs) into global value chains, and accelerate exports, reflecting the deepening synergy between India and the UAE on both economic and strategic fronts.

Simultaneously, the UAE’s role as a preferred investment hub for Indian high-net-worth individuals and family offices was lauded for creating powerful financial synergies and enabling joint strategic ventures that strengthen long-term economic alignment.

Building on this momentum, UIBC-UC used this opportunity to launch a major research initiative titled “Strength in Synergy: Unlocking India-UAE CEPA Global Potential.”

The research paper underscores the unprecedented transformation of CEPA from a bilateral trade accord into a cornerstone of strategic collaboration across sectors, geographies, and industries.

“CEPA is no longer just a trade pact, it’s a blueprint for the future,” said Mr. Faizal Kottikollon, Chairman of UIBC-UC, in the paper’s foreword. “This partnership exemplifies how political will, shared vision, and aligned strengths can co-create a model for cross-regional cooperation, innovation, and global leadership.”

The paper serves as a follow-up to UIBC-UC’s seminal 2023 publication, “The India-UAE Odyssey: Echoes of History, CEPA’s Melody, and Prospects for Future Harmony,” which mapped the historical, cultural, and economic foundations of the bilateral relationship. The UIBC-UC team integral to the research was also in attendance and included Kshitij Korde, Neha Sahni, Simar Kaur, Aiswarria Suchith, and Pratibha Prem Kumar.

The 2025 paper delves deeper into CEPA’s operationalization and post-signing impact, offering actionable insights and strategic foresight on how the agreement can scale to serve as a global model of resilient, innovation-led cooperation. With both nations playing pivotal roles in multilateral groupings such as BRICS, G20, and the India-Middle East-Europe Economic Corridor (IMEEC), the CEPA partnership is uniquely positioned to shape global policy, trade

governance, and sustainable development. “By combining India’s manufacturing and tech strengths with the UAE’s infrastructure, investment depth, and global reach, we are charting a new era of collaboration that is future-proof, inclusive, and globally resonant,” Mr. Kottikollon added.

The UIBC-UC report offers a comprehensive roadmap for policymakers, investors, and enterprises seeking to harness the full potential of CEPA. It strongly advocates for deepened cooperation in clean energy, education, research ecosystems, digital integration, and human capital development, reinforcing the shared ambition of both nations to lead in the evolving global order.

The closed door was followed by a luncheon hosted by UIBC-UC with high-level industry leaders and distinguished government representatives. This closed-door luncheon offered a rare opportunity to engage with top-tier delegates accompanying the Hon’ble Minister during his UAE visit as well as UIBC-UC members.

About UIBC-UC

The UAE India Business Council UAE Chapter (UIBC-UC) is the Official Joint Chamber, established under the patronage of India’s Ministry of External Affairs and the UAE’s Ministry of Foreign Affairs and International Cooperation. UIBC-UC aims to foster innovative economic collaboration between the two nations.

UIBC-UC was inaugurated on February 18, 2023, aligning with the first anniversary of the historic Comprehensive Economic Partnership Agreement (CEPA). The Council, launched by UAE’s Hon. Minister of State for Foreign Trade, H.E. Dr. Thani bin Ahmed Al Zeyoudi, in the presence of Ambassador of India to the UAE, Mr. Sunjay Sudhir, and the Consul General of India in Dubai, seeks to amplify CEPA's influence.

Committed to ushering in a new era of collaboration, UIBC-UC leverages its unparalleled network of 15 Founding Members representing leading Indian and Emirati business organizations. This consortium manages assets exceeding USD 1 trillion, positioning it at the forefront of fostering dynamic partnerships that shape the economic future of both nations.

Building on a rich history of economic ties, UIBC-UC identifies strategic projects that businesses in both countries can undertake.

This includes investments in infrastructure, manufacturing, technology, hybrid renewable energy, IT, tourism infrastructure, and shipping, enabling Indian businesses to use the UAE as a base for global expansion.

UIBC-UC has played a pivotal role in significant projects like Emaar's Rs 500 crore FDI project in Srinagar, Bharat Mart, and UAE India Friendship Hospital. The Council also influences policy development between India and the UAE, offering members access to high-level delegations and key figures.

Additionally, UIBC-UC facilitates involvement in marquee events, provides platforms for exchanging insights and best practices, fosters business networking, and advocates for policies supporting member interests.

Ultimately, UIBC-UC envisions playing a vital role in assisting both governments to realize CEPA's objectives of elevating bilateral non-oil trade to USD 100 billion and securing USD 75 billion in investments from the UAE to India by 2030.

In line with this mission, UIBC-UC recently facilitated the signing of a landmark Memorandum of Understanding for the establishment of the India-UAE Friendship Hospital. This groundbreaking healthcare initiative aims to deliver world-class medical services, foster medical research, and strengthen people-to-people ties between the two nations. The hospital will symbolize a shared commitment to human development, healthcare equity, and bilateral cooperation in the life sciences sector.

For more information and to schedule interviews with UIBC-UC please contact:
Nandini Vohra
The Guild