In 2015-16, India exported goods worth USD 30 billion to the UAE with heavy machinery, petroleum products, and food and dairy products being the main export commodities. Indian businesses have equally established a strong footprint in the UAE.

A two-day conclave, aimed at identifying potential areas of investment and collaborations between India and the UAE, is being held in Dubai. The conclave, which begins today, will focus on areas that should be tapped for growth such as defence, energy, security and maritime trade, its organisers said.

Another significant pillar of the India-UAE ties that will be discussed is the geopolitical and economic impact of strong relations of the two countries on the Asian region, said the organisers of the ‘The Economic Times India UAE Strategic Conclave’. Trade and commerce forms the backbone of historically strong bilateral relations, with India being UAE’s top foreign trade partner, the organisers said.

In 2015-16, India exported goods worth USD 30 billion to the UAE with heavy machinery, petroleum products, and food and dairy products being the main export commodities. Indian businesses have equally established a strong footprint in the UAE. As many as 4,365 Indian commercial companies are registered with the UAE Ministry of Economy, as of end-2016 and over 2.8 million Indians reside in the UAE. “At The Economic Times, we have closely evaluated the full spectrum of relationships between India and UAE and we strongly feel that this association will act as a significant contributor to the economic progress of the region. Hence, we have designed this conclave to discuss the potential areas of investment, collaborations and ways to further improve the business environment,” said Deepak Lamba, president of Times Strategic Solutions.