Abdullah bin Touq Al Marri, the Minister of Economy and Tourism, held a meeting with H.D. Kumaraswamy, the Indian Minister of Steel and Heavy Industries, along with his accompanying delegation at the Ministry of Economy’s offices in Dubai. The purpose of the meeting was to discuss strengthening collaboration opportunities in economic and industrial areas of mutual interest between the United Arab Emirates and India, particularly in new economy sectors, logistics, advanced technology, and food and manufacturing industries.
Al Marri stated, “The economic cooperation between the UAE and India is witnessing continued growth, with the total number of new Indian companies entering the UAE market reaching 22,410 during the first half of this year, representing an increase of over 10% compared to the same period last year. Consequently, the overall number of Indian companies in the UAE market increased to 264,680 by the end of the first half of 2025. We discussed ways to enhance communication between the business communities of both nations and encourage the establishment of diverse projects in several vital economic sectors.”
He emphasized that UAE-India relations are historical and strategic across various fields, characterized by decades of economic cooperation based on mutual interests, supported by the visionary leadership of both friend nations. He noted that both countries share common goals and strategies aimed at expansion into future economic sectors such as the circular economy, advanced manufacturing, tourism, healthcare, entrepreneurship, innovation, and technology.
He further explained that the UAE boasts a flexible and competitive legislative economic environment that attracts industrial investments from around the world. The manufacturing sector contributed 13.5% to the non-oil GDP in 2024, ranking second among the most contributing economic activities to the non-oil GDP of the national economy. Additionally, foreign direct investments in this vital sector reached nearly AED 40 billion (USD 10.9 billion) by the end of 2022, representing 7% of the total foreign direct investment into the country.
The meeting also addressed the incentives and advantages that the UAE’s business environment offers to Indian companies and how they can take advantage of them, including a strategic geographical location that connects the East and West, a comprehensive economic partnership, advanced infrastructure, diverse logistical services, and favorable tax facilities encouraging the establishment of diverse economic and investment activities.
Both parties affirmed the importance of enhancing collaboration at both governmental and private sector levels, exchanging experiences and best practices aimed at adopting modern technologies across various sectors linked to the new economy, which supports the development of a knowledge-based economy built on innovation and promotes sustainable economic growth.