UAE and India have strengthened ties across trade, low carbon growth and energy transition opportunities.
Minister of Industry and Advanced Technology and Special Envoy for Climate Change, Dr. Sultan bin Ahmed Al Jaber, held a series of high-level meetings with government and business leaders in India, focused on opportunities within the energy transition and industrial growth.
Following Dr. Al Jaber’s meeting with Shri Bhupender Yadav, Minister of Environment, Forest and Climate Change, the UAE and India agreed to expand bilateral cooperation towards accelerated climate action and implementation of the Paris Agreement.
This includes public-private partnerships across renewable power deployment, agriculture efficiency, green hydrogen, sustainable finance and carbon market development.
Dr. Sultan said: “The UAE’s deepened collaboration with India on the multiple growth opportunities offered by the energy transition builds upon decades of close UAE-India commercial and diplomatic ties.
“Today, India is one of the UAE’s largest trade partners, and we welcome the opportunity to capitalise on this strong foundation to power low carbon growth through public and private sector solutions that are good for the climate and the future economic prospects of both our peoples.”
The UAE’s expanded cooperation with India in the area of climate aims to support India’s ambition to achieve 450 gigawatts of renewable energy installed capacity by 2030 and aligns with the UAE’s ambitions to expand its low and zero-carbon energy capabilities.
Dr. Sultan and the UAE delegation also met with a number of Indian business leaders including Mukesh Ambani, Chairman and Managing Director of Reliance Industries and Dr. Alka Mittal, Chairman and Managing Director of the Oil and Natural Gas Corporation.
The private sector meetings covered new potential opportunities, particularly those in the area of decarbonisation and climate solutions to further expand UAE-India industrial cooperation.
These leverage new opportunities made possible by the recently announced UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed earlier this month.
India was the second-largest trading partner of the UAE in 2021, accounting for 9 percent of the total volume of the UAE’s trade globally.
Within the next five years, India seeks to grow the value of such bilateral trade to $100 billion (AED367 billion), further securing its place as one of the UAE’s most significant commercial partners.
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