India and the United Arab Emirates (UAE) on October 5 signed a Memorandum of Understanding (MoU) on increasing cooperation in the field of industries and advanced technologies.
Union Commerce and Industry Minister Piyush Goyal said that India and the UAE are aiming to expand the bilateral trade to make it USD 100 billion.
India, UAE In Talks To Expand Trade To USD 100 Billion
Piyush Goyal co-chaired the 11th meeting of the India-UAE high-level joint task force to boost investments between the two countries.
Goyal at the meeting said, “I’m very convinced that the incredible love and affection that the people of India and the people of the UAE have for each other, the immense contribution that businesses are making to further strengthen this geopolitical strategic partnership is going to truly make this that defining partnership and brotherhood…”
“Clearly, India is a vibrant nation, on the move to become an economic powerhouse. Today the fifth largest economy in the world…It was only nine years ago, that we were a fragile five economy, amongst the weakest five economies in the world. Today as I stand before you, we are amongst the top five economies, the fifth largest GDP. In the next four years, we expect to become the world’s third largest GDP,” he added.