Growing India-UAE economic and commercial relations have contributed to the stability and strength of a rapidly diversifying and deepening bilateral relationship between the two countries. Both sides are striving to further strengthen these ties for mutual benefits. India-UAE trade, valued at US$ 180 million per annum in the 1970s, is today around US$60 billion making UAE, India’s third largest trading partner for the year 2014-15 after China and US, with total bilateral trade of USD 59.16 billion, registering a marginal decrease of 0.63% compare to last financial year.

With a sharp fall of 26 % in imports from the UAE to India in FY 2013-14, Saudi Arabia replaced it as the second largest source country for imports into India. In FY 2014-2015 too, UAE ranked third and accounts for 5.83 % of India’s total imports.

Indian exports to UAE rose by 8.2 per cent in FY 2014 – 15 on a y-o-y basis, UAE continued to be the second largest export destination for India constituting 10.64 per cent of India’s total exports.

For UAE, India is the largest trading partner for the year 2014 with an amount of over US$ 28 billion (non-oil trade).