India-UAE- Israel’s trilateral trade showing momentous growth

Trilateral trade between India, Israel and UAE could be boosted to US$ 110bn by 2030, riding on the back on Israeli innovation, UAE’s visionary leadership and partnership between the two.

April 5, 2021

Israel and UAE signed the Abrahams Accord Peace Agreement in 2020, in an effort to normalise bilateral trade.

India-UAE trade has increased from US$ 185mn in 1985to US$ 60 bn making UAE India’s third largest trading partner.

Trilateral trade between Israel, UAE and India can boost trade between the three nations to US$ 110bn by 2030.

This tripartite cooperation holds potential for other countries too, in areas of technology, innovation, healthcare and solar energy.

At an event organised by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) on 4th April 2021, attended by top diplomats and members of the business community, it was stated that the trilateral trade between India, Israel and the UAE could propel to US$ 110bn by 2030, thereby mobilising India’s growth trajectory significantly by siphoning off their mutual strengths. The event was organised to discuss various business deals that the IFIICC has across sectors. Being launched on 14th December 2020, IFIICC is seeking to set up offices globally, abetting the support of the Indian diaspora hoping that innovation and collaboration between nations will usher in a new, post-pandemic era of sustainable economic growth.

In a historic move to normalise bilateral relations between Israel and UAE, the two countries signed the Abrahams Accord Peace Agreement in 2020. The Indian External Affairs Minister Shri S. Jaishankar stated that the normalisation of ties between UAE and Israel have brought to the fore a lot of opportunities at the most opportune moment for India, adding to the already bourgeoning India-UAE bilateral trade.  The Indian business community in the UAE can significantly leverage this trilateral to boost economic growth of all nations by introducing new-age technology and business solutions. India with its strengths, UAE with investments and Israel with its technical know-how can bring onboard immense opportunities for innovation and technology. 

India is a key strategic partner of the UAE and trade between the two countries has increased from US$ 185mn (Dh500mn) in 1985 to USD 60bn (Dh220bn) in 2019 to 2020 and is expected to grow further to US$ 100bn in 2030, making the UAE India’s third largest trading partner. This particular tripartite relationship shows tremendous potential, not only for the three nations involved, but also for multilateral cooperation with other countries in the areas of technology, innovation, healthcare, food security and solar energy.