"UAE Outlines BRICS Economic Connectivity Vision Under India's 2026 Chairship"
CEPA (Comprehensive Economic Partnership Agreement)
a bilateral trade deal covering goods, services, investment, and intellectual property, broader than a standard FTA.
New Development Bank (NDB)
BRICS-established multilateral development bank, headquartered in Shanghai, financing infrastructure and sustainable development in member countries.
India's engagement with multilateral economic groupings has deepened significantly since the early 2000s. BRICS, originally comprising Brazil, Russia, India, China, and South Africa, was conceived as a forum for major emerging economies to coordinate on global governance reform. Over time, it evolved into a platform for trade facilitation, development finance, and South-South cooperation. The New Development Bank (NDB), established in 2015 with its headquarters in Shanghai, became BRICS' most concrete institutional output, offering an alternative to Western-dominated multilateral lenders such as the World Bank and IMF. The NDB has since approved more than $40 billion in financing for infrastructure and sustainable development across member countries.
The grouping expanded significantly at the Johannesburg Summit, admitting six new members including the UAE, which formally joined in January 2024. This expansion reflects a broader strategic logic: BRICS is repositioning itself as a representative voice for the Global South, not merely a club of large emerging economies. The UAE's membership is particularly significant because it brings sovereign wealth assets exceeding $2.9 trillion and a concluded portfolio of 38 Comprehensive Economic Partnership Agreements (CEPAs), making it one of the world's most active bilateral trade-agreement signatories. This contrasts with India's own CEPA trajectory, the India-UAE CEPA, concluded in 2022, is among India's most consequential bilateral trade agreements, while the India-EU Broad-based Trade and Investment Agreement (BTIA) has remained under negotiation for over a decade, illustrating the difference between concluded and aspirational trade architecture.
India's West Asia economic diplomacy has long been shaped by energy security. The UAE, as a major Gulf Cooperation Council (GCC) member and energy exporter, is central to India's hydrocarbon import strategy. However, the relationship has diversified well beyond oil. Non-oil bilateral trade between India and the UAE grew by 17% in 2025 to exceed $76 billion, and both countries have set a target of $200 billion in bilateral trade by 2032. This trajectory mirrors the broader question that multilateral groupings like BRICS and the Quad face: whether a forum built around one logic, security or political solidarity, can successfully pivot to deliver tangible economic value for its members.
The UAE-India CEPA is a Comprehensive Economic Partnership Agreement, a broader instrument than a conventional free trade agreement. It covers goods, services, investment, intellectual property, and government procurement. It creates a more enabling environment for trade by reducing tariffs, streamlining customs procedures, and providing greater market access for services sectors. The agreement reflects India's shift toward concluding bilateral economic partnerships with strategically important partners rather than waiting for multilateral rounds under the WTO to deliver results.
BRICS, under India's 2026 Chairship, has adopted the theme of resilience, innovation, cooperation, and sustainability. India's presidency provides an opportunity to move the grouping from dialogue to delivery, translating political commitments into easier trade, stronger investment flows, and more resilient supply chains. …
'Broad-based Trade and Investment Agreement (BTIA)' is sometimes seen in the news in the context of negotiations held between India and
Which of the following is not a member of 'Gulf Cooperation Council'?
With reference to 'Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)', consider the following statements:
1.It was established very recently in response to incidents of piracy and accidents of oil spills.
2.It is an alliance meant for maritime security only.
Which of the statements given above is/are correct?
Which of the following countries became full members of BRICS in January 2024?
1.United Arab Emirates
2.Saudi Arabia
3.Iran
4.Ethiopia
5.Argentina
Select the correct answer using the code given below:
Consider the following statements regarding the New Development Bank (NDB):
1.It was established in 2015 by the BRICS nations.
2.Its headquarters is located in Shanghai, China.
3.It has approved more than $40 billion in financing since its establishment.
4.Voting rights in the NDB are weighted by each member's capital contribution, similar to the World Bank.
How many of the above statements are correct?
Match the following BRICS-related institutions/agreements with their correct descriptions:
List I (Institution/Agreement) — List II (Description)
A.New Development Bank — 1. India's bilateral trade agreement with the UAE covering goods, services and investment
B.UAE-India CEPA — 2. BRICS multilateral lender headquartered in Shanghai
C.BRICS 2026 Chairship — 3. Held by India with the theme of resilience, innovation, cooperation and sustainability
D.Gulf Cooperation Council — 4. Regional grouping of six Arab Gulf monarchies excluding Iran
Select the correct answer using the codes given below:
With reference to the UAE-India Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:
1.It covers goods, services, investment, and intellectual property.
2.Non-oil bilateral trade between UAE and India exceeded $76 billion in 2025.
3.Both countries have set a bilateral trade target of $200 billion by 2035.
Which of the statements given above is/are correct?
With reference to the 'Broad-based Trade and Investment Agreement (BTIA)', which of the following statements is correct?
Want the full note, Prelims Facts & MCQ answers?
Create a free account — takes less than a minute.
Create free account