Prime Minister Narendra Modi was greeted with warmth and enthusiasm as he arrived in Abu Dhabi, the capital of the United Arab Emirates (UAE), on Tuesday. The UAE’s President, Mohammed bin Zayed Al Nahyan, extended a grand welcome to the Indian Prime Minister, setting the tone for his two-day visit to the Gulf nation.
As Prime Minister Modi stepped onto UAE soil, he was met with a gesture of friendship and camaraderie from President Al Nahyan. A heartwarming moment captured in a video shared by the news agency PTI showcased the two leaders sharing a warm embrace, reflecting the strong bond between India and the UAE.
Prior to the heartfelt exchange, Prime Minister Modi was accorded the ceremonial respect of a Guard of Honour upon his arrival. The ceremonial display exemplified the significance of his visit and the respect he commands as the leader of India.
PM Modi’s Agenda
Prime Minister Modi’s visit to the UAE holds strategic importance, aimed at bolstering the already strong bilateral relations between the two nations. During his two-day stay, he is scheduled to engage in extensive discussions with the top leadership of the Gulf nation.
Agenda Highlights:
- Strategic Partnerships: The discussions between Prime Minister Modi and UAE leaders will focus on advancing the bilateral strategic partnership between India and the UAE.
- Inauguration of Hindu Temple: An important highlight of the visit is the inauguration of the first Hindu stone temple in Abu Dhabi. This event marks a significant cultural milestone and underscores the multicultural fabric of the UAE.
Modi’s Seventh Visit to UAE
This visit to the UAE marks Prime Minister Modi’s seventh trip to the nation since 2015, highlighting the significance of the bilateral relationship between India and the UAE. Over the years, the cooperation between the two countries has flourished across various sectors.
Strengthening Bonds:
In a statement issued before his departure for the UAE, Prime Minister Modi emphasized the exponential growth in cooperation between India and the UAE across diverse sectors. These sectors include trade and investment, defence and security, food and energy security, and education. Additionally, he highlighted the robust cultural and people-to-people ties that bind the two nations together.
Prime Minister Narendra Modi’s visit to Abu Dhabi underscores the deep-rooted ties and the shared vision for cooperation and development between India and the UAE. As he engages in discussions and inaugurates the Hindu stone temple, his visit is poised to further strengthen the bilateral relations and foster greater collaboration between the two nations.
India and UAE Forge Bilateral Investment Pact during Modi’s Visit
India and the United Arab Emirates (UAE) have sealed a significant bilateral investment agreement alongside a framework deal on the India-Middle East Economic Corridor (IMEC) during Prime Minister Narendra Modi’s recent trip to the UAE.
Meeting with UAE President Mohamed bin Zayed Al Nahyan on Tuesday, Modi engaged in both one-on-one discussions and delegation-level talks, solidifying key economic ties between the two nations.
Bilateral Investment Agreement: Deepening Economic Relations
The bilateral investment pact follows the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE in 2022. This agreement underscores the strengthening economic bonds between New Delhi and Abu Dhabi, with bilateral trade reaching $85 billion in FY23, marking a 16% increase. Additionally, the UAE ranks as the fourth-largest source of foreign direct investment in India, with investments amounting to $3.5 billion.
Enhancing Financial Connectivity and Infrastructure Cooperation
During the visit, cooperation agreements were inked in various sectors, including electric interconnectivity, digital infrastructure projects, and financial connectivity. Notably, an agreement was reached to link India’s Unified Payments Interface (UPI) with the UAE’s AANI instant payments platform, facilitating seamless financial transactions between the two countries. Moreover, India’s RuPay cards will be integrated with the UAE’s JAYWAN card, leveraging RuPay’s technology stack to bolster financial sector cooperation.
Infrastructure cooperation was also a key focus, with India’s Rites Ltd signing an agreement with Abu Dhabi Ports Co., and the Gujarat Maritime Board entering a pact with Abu Dhabi Ports Co. to bolster port infrastructure development.
Strengthening People-to-People Ties
According to India’s foreign ministry, discussions between the two leaders encompassed various sectors, including trade, investment, digital infrastructure, fintech, energy, and culture. Emphasis was placed on deepening the comprehensive strategic partnership and enhancing people-to-people ties.
Modi’s Address to Indian Diaspora in UAE
During the “Ahlan Modi” event in Abu Dhabi, Modi expressed gratitude to the Indian diaspora for their overwhelming presence, emphasizing the historic partnership between India and the UAE. He highlighted the substantial growth in bilateral trade and the significant Indian expatriate community in the UAE.
Modi also reminisced about his first visit to the UAE in 2015, expressing appreciation for the warmth extended by the UAE leadership. He acknowledged UAE President Mohamed bin Zayed Al Nahyan’s recent visit to Gujarat and thanked him for his contributions to strengthening bilateral relations.
Moreover, Modi thanked the UAE for conferring upon him the highest civilian award, the Order of Zayed, underscoring its significance for millions of Indians.
Looking Ahead: Strengthening Economic Cooperation
As Modi highlighted the achievements in economic cooperation between India and the UAE, he emphasized ongoing efforts to further enhance collaboration. The recent agreements underscore a commitment to fostering economic growth, technological innovation, and cultural exchange between the two nations.
Modi’s address also resonated with his vision for India’s economic trajectory, promising to propel India to become the world’s third-largest economy in his third term, as he gears up for the upcoming Lok Sabha elections.
The recent bilateral agreements between India and the UAE signify a robust commitment to deepening economic ties and fostering mutual prosperity. As both nations continue to collaborate across various sectors, the stage is set for enhanced economic cooperation and strengthened bilateral relations in the years to come.
