India and UAE aim for $200 billion bilateral trade by 2032

India and the United Arab Emirates have agreed to accelerate bilateral trade through several key initiatives. The two nations committed to timely implementation of measures enabling trade settlements in local currencies, integration of payment and messaging systems, and the development of central-bank digital currencies.

The partnership aims to reach $200 billion in bilateral trade by 2032. These initiatives are designed to streamline cross-border transactions and reduce dependency on third-party currencies, strengthening economic ties between the two countries.