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INDIA UAE
- With an annual bilateral trade of about $60 billion, the UAE is India’s third-largest trade partner
- Both the countries are working closely and vigorously to implement the commitment of USD 75 billion investment by the UAE in India
INDIA UAE
- In the financial year 2018-19, India-UAE bilateral trade grew by over 20% to reach US$ 59.9 billion. India’s exports to UAE grew by 7% to US$ 30.13 billion whereas UAE’s exports to India surged by 37% to reach US$ 29.78 billion.
COMPARING THIS TO INDIA CHINA TRADE
COMPARING THIS TO INDIA CHINA TRADE
- India’s exports to China rose to $17 billion during the year from $13 billion during 2017-18, while imports declined to $70 billion from $76 billion.
INVESTMENTS THAT INDIA EXPECTS
- “India has embarked on the ambitious, yet achievable, path to be a USD 5 trillion economy by 2024-25.
- We are targeting about USD 1.7 trillion worth of investments in the coming five years. To achieve this vision, the government is working to promote inflows from domestic as well as foreign sources,” Modi said
- United Arab Emirates (UAE) has operationalised a USD 75 billion sovereign fund for India
- Abu Dhabi has a sovereign wealth fund of about USD 800 billion. India has been eyeing the fund, parked with the Abu Dhabi Investment Authority, for its infrastructure sector.
WHAT PM MODI SAID
- India’s relations with the UAE are “at their best ever” as bilateral ties have been elevated from a mere “buyer-seller” to that of a comprehensive strategic partnership in the last four years, Prime Minister Narendra Modi has said as he highlighted the excellent rapport between the leadership of the two countries.
UAE SUPPORTED INDIA ON KASHMIR
- UAE was among the first few countries that described the Modi government’s moves on Kashmir as internal.
- The response from Gulf so far has been significant in strengthening India’s position vis a vis Pakistan’s narrative on Kashmir.
WHY UAE IS SUPPORTING INDIA?
- No prime minister of India had travelled to the UAE for more than three decades, before 2015, Modi is about to head to the Emirates for the third time since then.
WHY UAE IS SUPPORTING INDIA?
- The oil rich Gulf has begun to see India, one of the world’s leading energy importers, as a major economic partner.
- The recent Saudi decision to pick up 20 per cent stake in the oil business of Reliance Industries Limited and UAE’s support for the construction of India’s Strategic Petroleum Reserve are two examples of deepening energy interdependence.
WHY UAE IS SUPPORTING INDIA?
- ISRO to work with UAE for its first spacecraft “Hope Probe” launch
- he UAE Space Agency and ISRO have both set up a joint working group regarding this mission. There have been several meetings with the Indian Space Agency, and the latest was earlier this year.
‘ORDER OF ZAYED’
ORDER OF ZAYED – OTHER RECIPIENTS
- 10 September 2007: Vladimir Putin, President of Russia
- 25 November 2010: Elizabeth II, Queen of the United Kingdom and the other Commonwealth realms
- 20 July 2018: President of the People’s Republic of China, Chinese President Xi Jinping
UAE AND BAHRAIN
INDIA, BAHRAIN SIGN AGREEMENTS IN SPACE TECHNOLOGY, CULTURE EXCHANGE
- Modi, the first Indian prime minister to visit Bahrain, and Prince Khalifa after the delegation-level talks witnessed the exchange of MoUs in the areas of culture, space, collaboration with International Solar Alliance (ISA).
TEMPLE OF SHREENATHJI — THE OLDEST IN THE GULF REGION
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