A significant advancement was made today in enhancing the economic collaboration between India and the UAE. The UAE-India Business Council – UAE Chapter (UIBC-UC) held a high-level, private meeting in Dubai, which gathered senior government representatives and business executives from both countries.
Piyush Goyal, India’s Minister of Commerce and Industry, and Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, attended the meeting, underscoring the strategic importance both nations attribute to reinforcing their bilateral relationship. The event also saw the participation of Sunjay Sudhir, Indian Ambassador to the UAE; Satish Kumar Sivan, Consul General of India in Dubai; and Shri Aseem R. Mahajan, Additional Secretary (Gulf) at the Ministry of External Affairs.
The leadership from UIBC-UC included Faizal Kottikollon, chairman of KEF Holdings and UIBC-UC; Rizwan Soomar, CEO and managing director for the Middle East, North Africa, and the Indian Subcontinent at DP World; and H.E. Major General (Retd.) Sharafuddin Sharaf, Vice Chairman of Sharaf Group. Other notable members included Nilesh Ved, chairman of Apparel Group, and Ankur Gupta, head of Corporate Affairs & Growth, MENA at Tata Sons.
Key founding members present were Siddharth Balachandran, executive chairman and CEO of Buimerc Corporation; Amit Jain, Group CEO of Emaar; Rikant Pittie, co-founder of EaseMyTrip; and Neeraj Makin, senior EVP and group head of Strategy, Analytics & Venture Capital at Emirates NBD. Kshitij Korde and Neha Sahni were instrumental in facilitating discussions during the meeting.
Development: The conference primarily focused on the Comprehensive Economic Partnership Agreement (CEPA) and its transformative potential for the India-UAE relationship. During the first half of 2025, CEPA resulted in an impressive $37.6 billion in non-oil trade, marking a 33.9 percent increase compared to the previous year. The agreement has encouraged diversification in sectors such as gems and jewellery, food processing, telecommunications, green energy, and digital services, while fostering partnerships in emerging fields like AI, space technology, sustainability, and financial collaboration.
Participants also emphasized the UAE’s position as a prime investment destination for Indian high-net-worth individuals and family offices. This has resulted in the establishment of powerful synergies and joint ventures that align with the long-term growth aspirations of both nations.
During the meeting, UIBC-UC unveiled its latest research report titled Strength in Synergy: Unlocking India-UAE CEPA Global Potential. The study presents CEPA not merely as a trade agreement but as a foundation for strategic partnerships across various industries and geographies.
“CEPA has evolved beyond a simple trade contract; it’s a vision for the future,” stated Faizal Kottikollon, chairman of UIBC-UC, in his opening remarks. “This partnership demonstrates how political determination, shared vision, and mutual strengths can create a model for cross-regional cooperation, innovation, and global leadership.”
Building upon UIBC-UC’s earlier report The India-UAE Odyssey from 2023, this new document delves deeper into CEPA’s operational effects, offering perspectives on how to elevate the agreement into a global benchmark for growth that is resilient and innovation-driven. Given both countries’ involvement in BRICS, the G20, and the India-Middle East-Europe Economic Corridor (IMEEC), CEPA is positioned to influence global trade norms and sustainable development initiatives.
“By integrating India’s manufacturing and technological capabilities with the UAE’s robust infrastructure, investment resources, and international presence, we are ushering in a new era of collaboration that is sustainable, inclusive, and impactful worldwide,” Kottikollon continued.
The report outlines a path for policymakers, investors, and businesses, advocating for enhanced collaboration in clean energy, education, research, digital integration, and the development of human capital.
The closed-door gathering came to a close with a luncheon hosted by UIBC-UC, which provided a unique platform for industry leaders and government representatives to engage directly with the high-level delegation from the minister’s office.