UAE likely to spend US$100 billion in India

The administration plans to complete three trade pacts with the UAE (Comprehensive Economic Partnership Agreement), the United Kingdom (Enhanced Trade Partnership), and Australia (Comprehensive Economic Cooperation Agreement) by the end of this year

UAE likely to spend US$100 billion in India

Prime Minister Narendra Modi and UAE Crown Prince Sheikh Mohamed bin Zayed bin Sultan Al Nahyan will sign a free-trade agreement (FTA) between India and the UAE at a virtual ceremony.

The government is hoping that the Free Trade Agreement would encourage the UAE to spend more on the National Infrastructure Pipeline, which authorities estimate will cost $100 billion if favorable conditions are met. This will be the first FTA signed by the Modi government, which has criticized past agreements as harming India's economy and trade balance.