UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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India & UAE enhancing their relations through CEPA

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India and UAE share many priorities. Both the countries want to enhance the business environment in their countries, attract foreign direct investment, and use trade as a means to secure stability and prosperity. They aim no to limit this only for citizens and residents but for respective regions as well.

The UAE is seeking to more than double non-oil trade with India to as much as $100 billion over five years as part of efforts to deepen ties with fast-growing economies beyond the Middle East.

Thani Al Zeyoudi, UAE Minister of State for Foreign Trade met Piyush Goyal, Indian Commerce Minister to further boost business, investment and jobs in the countries and uplift the economy.

Goyal asserted that India-UAE bilateral relations have seen tremendous growth in past few years under the framework of comprehensive strategic partnership including regular exchanges at highest level.

India and UAE are each others' largest trading partners. By launching negotiations for a mutually beneficial Comprehensive Economic Partnership Agreement (CEPA), both the countries will come closer on various aspects.

UAE will be celebrating the 50th anniversary of their nation’s founding, when the collective aspirations of their leaders established a modern, outward-looking state first took root. In August, India marked its 75th Independence Day, a chance to reflect on its own remarkable journey since emerging from two centuries of colonial rule. And both the countries relies on each other for foreign trade.

India’s major exports to the UAE include petroleum products, precious metals, stones, gems and jewellery, minerals, food items such as cereals, sugar, fruits and vegetables, tea, meat, and seafood, textiles, engineering and machinery products, and chemicals.

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