India and UAE: A Partnership of Complementarities

 


India and the United Arab Emirates (UAE) have leveraged their respective strengths to forge a robust partnership across multiple sectors, according to Sunjay Sudhir, the Indian Ambassador to the UAE. In a recent discussion with WAM on the occasion of Indian Independence Day, Sudhir highlighted the rapid and positive evolution of India-UAE relations under the leadership of both nations.

The relationship between India and the UAE has reached new heights, with significant advancements in economic cooperation and people-to-people connections. Sudhir pointed to the integration of financial systems as a key example of this growing synergy. The launch of the United Payments Interface (UPI) in the UAE and the Rupee-Dirham Local Currency Trade Settlement Mechanism reflect the deepening financial ties between the two countries. Additionally, India’s RuPay Card now supports the UAE’s domestic card network, Jaywan, enhancing transactional ease and connectivity.

Furthering this integration, the bilateral agreement linking India’s UPI with the UAE’s AANI payment platforms, and the inter-linking of RuPay with Jaywan, signifies a major step in financial collaboration. The UAE’s strengths in global logistics are also set to benefit from initiatives like the “Bharat Mart” in Dubai, a hub for Indian exports aimed at bolstering trade and economic ties.

The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE has already shown promising results, driving up bilateral trade. Notably, the UAE stands out as the only country with which India has both an active CEPA and a Bilateral Investment Treaty (BIT), underscoring a unique and valuable relationship.

Comments

Post a Comment

Popular posts from this blog

Abu Dhabi Crown Prince Visits India to Strengthen Ties

Image
  Abu Dhabi Crown Prince Sheikh Khalid bin Mohammed bin Zayed Al Nahyan is on his first official visit to India since assuming his new role. His visit is aimed at further strengthening the already robust relations between India and the UAE. Upon arrival, Sheikh Khalid was warmly welcomed by Union Minister Piyush Goyal. During his stay, the Crown Prince will hold important meetings with key Indian leaders, including Prime Minister Narendra Modi and President Draupadi Murmu. Additionally, he will engage with business leaders and attend the Mumbai Business Forum, where discussions will focus on trade and investment opportunities between the two nations. India and the UAE enjoy a strong partnership across various sectors, and this visit follows Prime Minister Modi’s trip to the UAE in February, where eight crucial agreements were signed. The Crown Prince’s visit is expected to further enhance collaborations in emerging areas, opening up new opportunities for growth and cooperation.
Read more

International Day of Charity: A Global Commitment to Humanity

Image
International Day of Charity reminds us of the pressing need for global solidarity and compassion. As the world faces numerous challenges, charitable efforts become crucial in bridging gaps and alleviating suffering. Countries around the globe have demonstrated remarkable commitment to this cause, aiding communities in distress and fostering hope. In the fight against the COVID-19 pandemic, many nations extended their support to those in need. One notable example is the substantial assistance provided to India in May 2020. The country received a critical aid shipment consisting of 7 metric tons of medical supplies, which were essential for supporting approximately 7,000 medical professionals battling the crisis. This gesture underscored not only the global community's solidarity but also the profound impact of international aid. Among the leading contributors to global humanitarian efforts is the United Arab Emirates (UAE). Since its establishment in 1971, the UAE has provided more...
Read more

Diplomacy in Action: Minister Muralidharan's Two-Day Mission to Strengthen India-UAE Ties

Image
  In a significant stride towards bolstering the longstanding ties between India and the United Arab Emirates (UAE) , Minister of State, V Muralidharan, recently concluded a fruitful two-day visit to the Gulf nation. The visit, marked by diplomatic engagements and industrial tours, underscored the commitment of both nations to fortifying economic and cultural bonds. The journey kicked off with Minister Muralidharan's visit to Ashok Leyland in Ras Al Khaimah, a prominent automotive company with a robust presence in the region. During his tour, the minister gained insights into the company's growth trajectory, emphasizing the role of Indian businesses in contributing to the UAE's economic landscape. One notable highlight of the visit was the minister's proposal for a unique initiative. Minister Muralidharan suggested inviting diplomats from African countries to visit Ashok Leyland's manufacturing plant in India. This strategic move aims to showcase India's burgeon...
Read more