The Dubai Chambers concluded today the Dubai–India Business Forum in Mumbai. The event was organized on the sidelines of the visit of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, to India.
The forum focused on enhancing strategic economic opportunities between the two markets and was attended by over 200 senior officials and investors, including a delegation featuring 39 prominent business leaders from Dubai.
The event comes three years after the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India in 2022, which marked the UAE’s first bilateral agreement under its CEPA program.
Non-oil trade surpasses AED142 billion
During the forum, participants explored avenues to enhance trade and investment ties between the business communities in Dubai and India, as well as identifying opportunities to launch new joint ventures and strategic partnerships. Discussions also focused on the competitive advantages and economic prospects of both markets and how to harness these strengths to drive growth in bilateral trade and investments.
“Dubai and India share an exceptional relationship built on mutual trust and a commitment to economic integration. India holds an important position as a key trading partner for Dubai. The value of non-oil trade between our markets exceeded AED142 billion during the first nine months of 2024, achieving year-over-year growth of 19 percent,” stated Ahmad bin Byat, vice chairman of Dubai Chambers, in his opening remarks.
72,651 Indian companies active in Dubai
For his part, Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, said that Dubai holds a strategic position for Indian companies as a preferred investment destination due to its unique competitive advantages. Indian investors form a key part of Dubai’s business landscape, with 72,651 active Indian companies registered as members of the Dubai Chamber of Commerce by the end of March 2025.
In addition, 4,563 new Indian companies joined the chamber during Q1 2025, marking a year-over-year growth of 16.2 percent. Indian companies now rank first in terms of the number of foreign businesses operating in Dubai that are registered as members of the Dubai Chamber of Commerce.
“Organizing the Dubai–India Business Forum in Mumbai reflects our commitment to strengthening cooperation between the business communities in both markets and identifying new opportunities across a range of vital sectors. The event offers a unique platform to deepen economic ties, explore potential joint investments, and examine innovative ideas that support long-term commercial partnerships and mutual development goals,” Lootah added.
The forum hosted a panel discussion that explored the future of Dubai-India relations in trade, investment and international expansion amid global economic shifts. It also highlighted Dubai’s role as a strategic launchpad for Indian companies expanding into international markets and discussed how businesses can benefit from Dubai’s position as a leading trade and investment hub, as well as ways to strengthen bilateral economic cooperation.
The Dubai-India Business Forum contributes to Dubai Chambers’ objectives of boosting strategic economic partnerships, enhancing cross-border trade, building new investment opportunities locally and globally, and identifying fresh avenues for business, trade, and investment between Dubai and key global markets.
UAE ranks as India’s third-largest global trading partner in 2024
Economic ties between the UAE and India have seen remarkable growth in recent years, underscoring a strategic partnership that is expanding across key sectors such as trade, investment, energy and technology. No longer limited to trade, the relationship now includes deep investment partnerships and joint projects that are shaping a more integrated and forward-looking economic collaboration.
According to a report released by Dubai Chambers during the Dubai-India Business Forum, the UAE ranked as India’s third-largest global trading partner in 2024, following China and the United States, with imports valued at $60.1 billion and exports at $37.8 billion.
Dubai, in particular, plays a central role in this relationship, accounting for 85 percent of the UAE’s non-oil trade with India, which reached $54.2 billion in 2023. The city’s non-oil trade with India rose from $36.7 billion in 2019 to $45.4 billion in 2023, largely fuelled by the CEPA signed in 2022.
In 2023, Dubai’s top exports to India were precious stones and metals, totalling $14.65 billion, followed by machinery, plastics, and aluminum. Imports from India were led by precious stones and metals at $10.1 billion, along with electronics, mineral fuels and bituminous, machinery and iron and steel.
UAE becomes India’s seventh-largest investor
On the investment front, the UAE invested $2.9 billion in India during the 2023–2024 fiscal year, making it India’s seventh-largest investor. India’s economic growth remains strong compared to the majority of emerging markets. Projections indicate the economy is on track to grow by an average of 6.5 percent per year between 2025-26, positioning India among the world’s fastest-growing major economies.
This growth is anchored on three main drivers: government-led infrastructure investment, rising rural demand supported by strong agricultural output, and increased private investment, particularly in infrastructure-linked and export-oriented industries.
Inflation is also expected to ease, with consumer price inflation forecast to decrease to 4.3 percent in 2025 as global commodity prices moderate and supply bottlenecks ease, reducing from 4.9 percent in 2024. India’s expanding manufacturing base, especially in electronics and pharmaceuticals, supports a favorable outlook for 2026-29.
