India is engaged in ‘intense negotiations’ to build one million homes in Australia, seeking financial assistance from the UAE for this venture, Union Minister Piyush Goyal revealed, as reported by Indian news agency PTI.
Although UAE officials have yet to comment, Goyal recently engaged in discussions to strengthen economic ties with the Emirates.
Goyal described the Australian housing project as a ‘$500 billion opportunity’.
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According to Khaleej Times, UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi met with Indian counterpart Goyal in Mumbai, underscoring the value of direct dialogue in solidifying their economic partnership.
During their meeting, the ministers discussed the 2022 Comprehensive Economic Partnership Agreement (Cepa), which has become a robust instrument for economic growth in both nations.
Non-oil trade between the UAE and India soared to $37.6 billion in the first half of 2025, a 33.9% increase from the previous year, putting them on track to exceed the $100 billion annual trade goal set when Cepa was introduced in 2022.
Indian developments continue to make an impact in the UAE, with the forthcoming Bharat Mart—a 2.7 million square foot facility in Jebal Ali Free Zone (Jafza)—set to be a center for Indian manufacturers and exporters.
The UAE-India trade corridor is among the fastest growing globally. With US President Donald Trump imposing 50% tariffs on India due to its import of Russian oil, the partnership between India and the UAE is more vital than ever as they navigate a shifting geopolitical environment.
