Summary:
Union Minister of Commerce and Industry Mr. Piyush Goyal addressed the Dubai India Business Forum in Mumbai, an event hosted by Dubai Chambers and attended by His Highness Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the United Arab Emirates. Welcoming Sheikh Hamdan on his first official visit to India, Mr. Goyal highlighted the historic and cultural ties linking Mumbai and Dubai. He recalled that 2025 marks 100 years since Sheikh Saeed’s landmark visit to India, celebrating a century of growing cultural and commercial collaboration between the two cities. He also acknowledged Dubai’s social contributions, including building the first hospital for Indian workers and supporting more than 2 million Indians in the UAE during the COVID-19 pandemic.
Mr. Goyal stressed the depth of trust between India and the UAE, showcased by 6 high-level bilateral visits in just the past 2 years. He commended the UAE’s role in strengthening India’s outreach to Africa, investing in infrastructure and leading digital and logistics transformations, particularly through firms like DP World. He also expressed gratitude for the UAE’s role in building the Swaminarayan Hindu Temple in Abu Dhabi, calling it a true reflection of shared values and mutual respect. On the trade front, he said the two countries are progressing steadily toward their Comprehensive Economic Partnership Agreement goal of reaching non-oil trade worth ₹8,61,800 crore (US$ 100 billion). He further pointed to expanding educational ties, highlighting the launch of an IIT campus in Dubai and upcoming plans for Indian Institute of Management and Indian Institute of Foreign Trade campuses. Looking ahead, Mr. Goyal shared India’s economic vision of becoming a ₹25,85,40,000 to 30,16,30,000 crore (US$ 30–35 trillion) economy by 2047 and urged stronger collaboration in sectors like critical minerals, green hydrogen, fintech and high-tech manufacturing.
Source: IBEF
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