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UAE's ties with India are closely knit together and have enabled the two countries to sign multiple agreements on Infrastructure development. UAE has operationalised a USD 75 billion sovereign fund for India which reflects UAE's commitment to significantly improve trade and investment ties. Both the countries have signed a Memorandum of Understanding to mobilize the long term investment in the National Investment and Infrastructure Fund of India. Investment agreement worth $1 billion has been signed between the Abu Dhabi Investment Authority and the National Infrastructure Fund of India, with the aim of expansion of ports, railways, roads, airports among others in India. Moreover, in 2016 there has been $35.8 billion non-oil trade and $6.9 billion oil trade between the countries. With this volume of bilateral trade, India remains as the second largest market for the UAE's oil and non-oil exports, while the UAE represents the second largest market for Indian goods worldwide.
-H.E. Dr Ahmed Albanna, Ambassador of UAE to India