PM Modi’s seventh go to to UAE from February 13 seeks to strengthen bilateral relations, regional cooperation

PM Modi’s seventh go to to UAE from February 13 seeks to strengthen bilateral relations, regional cooperation

New Delhi, Feb 10: Prime Minister Narendra Modi is scheduled to undertake an official go to to the United Arab Emirates (UAE) from February 13 to 14. This marks the Prime Minister’s third go to to the UAE previously eight months and the fifth since 2015.

Throughout his go to, The Prime Minister will interact in bilateral discussions with Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE. The agenda will give attention to fortifying the strategic partnership between the 2 nations and exchanging views on pertinent regional and international issues of mutual concern.

Moreover, Prime Minister Modi will convene with Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Defence Minister of the UAE. Invited as a Visitor of Honour, he’ll tackle the World Authorities Summit 2024 in Dubai, delivering a major keynote tackle.

Prime Minister Modi is about to inaugurate the BAPS Mandir, the inaugural Hindu temple in Abu Dhabi. In one other engagement, he’ll tackle the Indian neighborhood at an occasion hosted in Zayed Sports activities Metropolis, Abu Dhabi.

 

Enhanced Relations Between India and UAE

India and the UAE share sturdy relations throughout political, cultural, and financial domains. Since Prime Minister Modi visited the UAE in August 2015, bilateral ties have been elevated to a Complete Strategic Partnership, agreements together with the Complete Financial Partnership Settlement (CEPA) in February 2022 and the Native Foreign money Settlement (LCS) System in July 2023.

 

Political Relations

Since July 2023, the diplomatic ties between India and the UAE have witnessed important momentum by way of a sequence of high-level engagements. In July 2023, Prime Minister Modi held discussions with UAE President Sheikh Mohamed bin Zayed in Abu Dhabi, marking the start of a string of exchanges strengthening bilateral cooperation.

Later within the yr, Modi participated within the COP28 summit held in Dubai from November 30 to December 1, 2023. Throughout the occasion, he once more met with UAE President Sheikh Mohamed bin Zayed and Vice President, Prime Minister, and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, reinforcing and deepening bilateral relations.

In September 2023, UAE President Sheikh Mohamed bin Zayed visited India to attend the G20 Leaders’ Summit. On this event, he additionally participated within the joint launch of the Worldwide Maritime Atmosphere and Vitality Cooperation Initiative (IMEEC) and the World Biofuel Alliance.

Just lately, President Sheikh Mohamed bin Zayed’s go to to Gujarat, in January 2024, because the Chief Visitor for the tenth Vibrant Gujarat World Summit, highlighted the rising partnership between the 2 international locations.

UAE’s participation as a Particular Invitee on the G20 summit throughout India’s Presidency in February 2023 and India’s backing, UAE’s accession as a Dialogue Associate to the Shanghai Cooperation Group in Could 2023 and its membership within the BRICS bloc from January 1, 2024, demonstrated the fostering regional stability and financial cooperation.

 

Commerce and Funding

The Complete Financial Partnership Settlement (CEPA) between India and the UAE marked its one-year completion on April 30, 2023, contributing to a 16% surge in commerce quantity, which reached USD 85 million through the fiscal yr 2022-23. In the identical interval, the UAE emerged because the fourth-largest supply of Overseas Direct Funding for India, with an funding totalling $3.5 billion.

Throughout Prime Minister Modi’s go to to Abu Dhabi on July 15, 2023, Memorandums of Understanding (MoUs) had been inked, together with agreements for establishing a Native Foreign money Settlement System to advertise cross-border transactions in INR and Dirham. In March 2023, the Reserve Financial institution of India (RBI) and the Central Financial institution of UAE signed an MoU on Digital Currencies, additional enhancing monetary collaboration. Investments had been made by UAE entities, together with ADIA’s USD 500 million funding in Lenkstart and Mubadala’s USD 300 million funding in Dice Highways.

In January 2024, throughout UAE President Sheikh Mohamed bin Zayed’s go to to Gujarat, MoUs had been signed to foster funding cooperation within the improvement of meals complexes, renewable power, and modern healthcare. The eleventh assembly of the Excessive-Stage Job Drive on Investments (HLTFI), co-chaired by Commerce and Industries Minister Piyush Goyal and ADIA MD Sheikh Hamed bin Zayed Al Nahyan, convened in October 2023, highlighting the dedication to deepen financial ties.

 

Within the power sector:

An settlement was reached between Indian Oil Company Restricted (IOCL) and Abu Dhabi Nationwide Oil Firm (ADNOC) for the acquisition of 1.2 million metric tons of LNG over 14 years, commencing from 2026-39. Moreover, in January 2024, ADNOC Fuel signed a 10-year settlement to provide 0.5 million metric tons each year of LNG to GAIL India. Each nations additionally agreed to advertise cooperation and investments in Inexperienced Hydrogen by way of a signed MoU in January 2023.

 

Schooling

Throughout Prime Minister Modi’s go to to Abu Dhabi on July 15, 2023, a Memorandum of Understanding was signed to determine the Indian Institute of Know-how Delhi – Abu Dhabi within the United Arab Emirates (UAE). The interim campus of IIT-D in Abu Dhabi was established, with the inaugural Grasp’s course in Vitality Transition and Sustainability commencing on January 29, 2024. Plans are underway to introduce Bachelor’s and different applications ranging from September 2024.

In November 2023, Schooling Minister Dharmendra inked a number of MoUs through the go to to UAE encompassing numerous points of training and ability improvement and a educated workforce outfitted to fulfill the challenges of the twenty first century.

 

Defence Partnership

In November 2023, the Indian Air Drive delegation showcased India’s superior defence capabilities on the Dubai Air Present. The exhibition featured the Superior Gentle Helicopter group SARANG and Gentle Fight Plane TEJAS, which additionally carried out aerobatics shows. Moreover, India’s main defence manufacturing corporations, together with DRDO, HAL, BDL, and Mishra Dhatu Nigam, showcased their flagship merchandise akin to Brahmos and Astra.

In January 2024, bilateral and trilateral army workouts had been performed. The inaugural India-UAE bilateral military train, Desert Cyclone, passed off in Rajasthan. Concurrently, the primary trilateral train named Desert Knight Train, involving the Air Forces of India, UAE, and France, was performed on the Al Dhafra air base within the UAE. An MOU was signed between EDGE and HAL to discover joint design and improvement of missile techniques and unmanned aerial automobiles. Moreover, one other MOU was inked between BDL and UAE Edge subsidiary Al Tariq, aiming to collectively produce Indian variants of AL TARIQ’s all-weather long-range precision-guided munition (LR-PGM) kits in India.

 

Multilateral

Throughout the Prime Minister’s go to to Dubai from November 30 to December 1 to attend the COP28 Summit, he obtained the distinctive honour of being the only Head of State/Authorities to handle the ceremonial opening of the COP-28 Plenary for nationwide statements. Within the presence of UAE President His Sheikh Mohamed bin Zayed, the Prime Minister launched the World Inexperienced Credit score Initiative, signalling a dedication to environmental sustainability.

India and the UAE, alongside different nations, introduced the launch of the India-Center East Europe Financial Hall (IMEEC) and the World Biofuel Alliance through the sidelines of the G20 Leaders’ Summit in September 2023. In 2023, India additionally turned a member of the AIM for Local weather initiative (AIM4C), spearheaded by the UAE and the US throughout COP26 in Glasgow.

The Indian neighborhood within the UAE, numbering round 3.5 million, constitutes the most important expatriate group, contributing considerably to the nation’s improvement. Their optimistic contributions function a cornerstone for the enduring bilateral relationship between India and the UAE. Prime Minister Narendra Modi’s go to to the UAE signifies a major step in the direction of deepening bilateral relations and fostering cooperation throughout numerous sectors.

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