Piyush Goyal’s UAE Visit: Strengthening Trade, Tech & Education Ties

Commerce and Industry Minister Piyush Goyal has embarked on a two-day official visit to the United Arab Emirates, aimed at deepening cooperation in trade, investment, education, and emerging high-growth sectors. The trip comes amid strong momentum in India-UAE relations following the implementation of the Comprehensive Economic Partnership Agreement (CEPA).

India-UAE Joint Task Force & Trade Ambitions

Revisiting CEPA & Trade Milestones

Co-chairing the 13th meeting of the India-UAE High-Level Joint Task Force on Investments alongside Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, Goyal reviewed progress under CEPA. Since its implementation in May 2022, bilateral trade between India and UAE has crossed US$ 100.06 billion in FY2025, up from US$ 72.87 billion in FY2022.

Non-oil, non-precious metals trade which stood at about US$ 55 billion was highlighted, with new plans to raise this segment to US$ 100 billion in the next three to four years.

In the first half of 2025 alone, non-oil trade saw a 34% year-on-year increase to nearly US$ 38 billion.

Institutional & Investment Initiatives

One of the flagship projects discussed is Bharat Mart, a large 2.7 million square foot facility in Dubai’s Jebel Ali Free Zone, intended as a global showcase for Indian exporters.

The two sides also identified cooperation in sectors such as maritime, space, defense & aerospace, data centres, pharmaceuticals, food processing, fisheries, textiles, leather, and home décor. Talks included joint ventures and leveraging India’s skilled workforce with the UAE’s financial and infrastructure strengths.

Academic & Financial Integration Moves

New IIFT Campus at Expo City, Dubai

Commerce and Industry Minister Piyush Goyal announced that the Indian Institute of Foreign Trade (IIFT) will open its first overseas campus in the India Pavilion at Expo City Dubai. This campus, as per earlier agreements, will host short and medium-term training and research programmes, and ultimately IIFT’s flagship MBA (International Business) program.

Also present are existing Indian institutions in the UAE, like the Indian Institute of Technology in Abu Dhabi and the Indian Institute of Management in Dubai. The new IIFT campus aims to serve both the Indian diaspora and Emirati students, enhancing capacities in international trade and related fields.

Financial Integration, Payment Systems & Treaties

Goyal stressed progress in financial integration—India’s Unified Payments Interface (UPI) has been rolled out in the UAE, facilitating faster, more seamless cross-border payments. A Bilateral Investment Treaty, which came into force in August 2024, was noted for offering enhanced investor protection. Talks also covered trade in local currencies, interlinking of payment systems and cooperation around Central Bank Digital Currencies (CBDCs).

Strategic Impacts & Future Direction

Sectoral Growth & Global Reach

The India-UAE partnership is exploring expansion in high potential and emerging sectors: tech & life sciences (AI, genomics, healthcare innovation), defense & aerospace, etc. Institutional linkages such as between India’s GIFT City and the UAE’s Abu Dhabi Global Market (ADGM) are being strengthened.

Economic Resilience & Growth Projections

Goyal emphasized India’s macro-strengths: its stable economy, robust foreign exchange reserves, structural reforms, strong banking sector, infrastructure investments and innovation focus. Also highlighted: India’s demographic advantage with around 2.2 million STEM graduates annually, and increasing women’s participation in workforce. Under current trajectories, India aims to move from its present economic size (noted as the world’s fourth-largest) to become the third-largest economy by 2027, and targeting US$ 30-35 trillion economy by 2047. (These projections reflect India’s longer term goals.)

Key Facts & Figures

Conclusion

Minister Piyush Goyal’s UAE visit underlines a strategic push by India to deepen economic, educational, and technological ties with the UAE beyond traditional energy-linked trade. The expanded focus under CEPA, ambitious non-oil targets, institution building (like the IIFT campus in Dubai), financial integration, and sectoral diversification show that both nations are aiming for a more interlinked, resilient, and future-oriented partnership.

While implementation will demand careful navigation—ensuring infrastructure, regulatory frameworks, and institutional capacity keep pace—the roadmap laid out promises significant gains: enhanced export opportunities, better educational and professional exchange, stronger investor protections, and more robust innovation ecosystems. For India, dovetailing its growth ambitions with such partnerships is likely to accelerate progress toward its long-term goals in the global economy.