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India-UAE target $200bn bilateral trade by 2032; commit to local currencies, payments, digital initiatives — Check here
The brief
- India and UAE target $200bn bilateral trade by 2032
- They committed to local-currency trade settlement and payment and messaging integration
- Local-currency settlement could support Indian banks and payment firms involved in cross-border transactions
- G-Sec yields surge to 2.5-year high on crude spike; rupee nears 96/$
- Surge in crude oil prices continue to pressurize INR
- RBI completes ₹1 trillion net debt sale for first time in a decade
- Shapoorji Pallonji Group eyes dollar-rupee debt route for fresh funding
- India's SP Group eyes dollar-rupee debt route for fresh funding, sources say
India-UAE investment, trade and energy ties
The UAE signalled an additional $25 billion investment in India, which would take its total investment toward $100 billion; bilateral trade has exceeded $100 billion since CEPA. India and the UAE are targeting $200 billion in trade by 2032, while India is exploring greater UAE LPG and LNG supplies.
Monday, 28 September
- India-UAE target $200bn bilateral trade by 2032; commit to local currencies, payments, digital initiatives — Check here