The Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed a cooperation agreement on Thursday aimed at strengthening economic ties between the United Arab Emirates and India. The agreement was formalized at the India-UAE Business Forum held in Mumbai, which brought together 114 companies from both countries.

The pact establishes a framework to enhance trade, investment, and private-sector collaboration across multiple sectors. It was signed during an event organized by the Abu Dhabi Chamber, with FICCI serving as the host partner. The Confederation of Indian Industry and the IMC Chamber of Commerce and Industry also participated.

Under the agreement, both organizations will create joint working groups focused on areas such as clean energy, smart industry and Industry 4.0 technologies, the digital economy, smart infrastructure, investment and capital markets, as well as financing for small and medium-sized enterprises (SMEs) and startups. The cooperation will also facilitate access to incubation and acceleration programs in emerging fields including energy, fintech, healthtech, and smart mobility, particularly benefiting Abu Dhabi-based SMEs through FICCI’s global networks.

The collaboration includes the exchange of trade delegations and business visits, as well as sharing market research, technical knowledge, and training resources. Both parties have committed to identifying and addressing barriers that impede bilateral trade growth.

Trade between the UAE and India reached $101.25 billion (approximately Dh371.8 billion) in the fiscal year 2025-26. The two governments have set an ambitious target to nearly double bilateral trade to close to $200 billion by 2032.