UAE and India Set Ambitious Goal to Double Trade to $200 Billion by 2032
The United Arab Emirates and India have announced a bold target to double their bilateral trade to $200 billion by 2032, with energy cooperation playing a pivotal role in this expansion. This announcement was made by UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber during his address at the 4th India Energy Week 2026, currently underway in Betul, South Goa.
Energy Demand Driving Global Growth
Speaking at the inaugural ceremony of the event, Al Jaber outlined three major forces that are reshaping global energy markets. These include the rise of emerging economies led by Asia, the explosive growth of artificial intelligence and digital infrastructure, and the integration of diverse energy sources.
"The defining story of energy today is growth," Al Jaber told the gathering. "Between now and 2040, oil demand will remain above 100 million barrels per day, LNG demand will climb over 50%, and electricity demand will grow by 50%."
India's Central Role in Energy Trends
Al Jaber positioned India as central to all three global energy trends, noting the country's status as the world's third-largest energy consumer. He highlighted several key projections for India's growth over the next 15 years:
- India's air travel is projected to grow by 150%
- The country's urban population will approach 1 billion
- Data centre capacity will increase tenfold
The UAE minister specifically pointed to air conditioners as a major driver of energy demand. By 2050, the world will have 5.6 billion AC units, up from 1.6 billion today. This represents the equivalent of 10 new units sold every second for three decades.
Strengthening UAE-India Relations
The UAE-India relationship has reached new heights in recent years, with bilateral trade surpassing $100 billion last year. The current announcement to double this figure to $200 billion by 2032 represents a significant commitment to further strengthening economic ties between the two nations.
"In an age of walls, our message is simple: build doors, and the world will walk through them," Al Jaber said, inviting global partners to collaborate with the UAE on energy's transformative future.
The event saw the presence of Union Minister Hardeep Singh Puri, Goa Chief Minister Pramod Sawant, and UAE Minister Sultan Ahmed Al Jaber during the inaugural ceremony. Their participation underscores the importance both countries place on energy cooperation and economic partnership.
As global energy demand enters an unprecedented expansion phase, the strategic partnership between the UAE and India appears poised to play a crucial role in meeting this demand while fostering mutual economic growth.
