India, UAE agree to double bilateral trade by 2032

India and the United Arab Emirates have finalized an agreement to double trade to 200 billion dollars within six years. The countries' leaders have also committed to forging closer ties across a variety of fields.

Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan held talks in New Delhi on Monday.

Later in a joint statement, the two said they want to deepen their strategic defense partnership, particularly on cybersecurity and counterterrorism. They also agreed to explore collaboration in advanced nuclear technologies.

The statement said the two sides signed a 10-year liquefied natural gas deal in which the UAE will provide India with 0.5 million tonnes annually starting in 2028.

The meeting comes as India seeks to further boost economic growth by expanding ties with resource-rich countries like the UAE and attract greater foreign investment.

nhk