India said it plans to double bilateral trade with the UAE to $200 billion by 2032 as it looks to diversify economic partnerships amid uncertainty in trade ties with the United States.
During a brief visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to New Delhi, the two sides signed a 10-year liquefied natural gas supply agreement between their state-owned companies.
Under the deal, Abu Dhabi National Oil Company will supply LNG worth up to $3 billion starting in 2028 to Hindustan Petroleum Corporation. ADNOC said India will become its largest LNG customer, accounting for about 20% of total sales by 2029.
Bilateral trade reached $100 billion in fiscal year 2025 following the signing of the Comprehensive Economic Partnership Agreement in 2022.
India is the UAE’s second-largest trading partner, while the UAE ranks as India’s third-largest after the U.S. and China. About 3.5 million Indians live in the Gulf nation.
Analysts said growing high-level engagement reflects the deepening relationship as India seeks alternatives while its exports to the U.S. remain under pressure due to steep tariffs imposed by Washington.
