India and UAE set $200bn trade goal, sign major energy deal

Business Jan 19, 2026

India and the UAE just agreed to double their trade to $200 billion by 2032.
During UAE President Sheikh Mohamed bin Zayed Al Nahyan's visit to New Delhi, India's HPCL and the UAE's ADNOC inked a big 10-year LNG (liquefied natural gas) supply deal—meaning more reliable energy for India and closer economic ties.

What else happened?

With this new agreement, the UAE has now become India's second-largest LNG supplier.
The leaders also kicked off plans for defense and space partnerships.
PM Modi personally welcomed President Al Nahyan, illustrating the importance he attaches to a strong India-UAE friendship.