PM Modi, UAE Crown Prince Discuss Strengthening Strategic Ties

GG News Bureau
New Delhi, 9th Sept. Prime Minister Narendra Modi on Monday engaged in extensive discussions with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, focusing on enhancing the strategic partnership between India and the United Arab Emirates (UAE).

The Crown Prince, who arrived in New Delhi on Sunday, was warmly received by Modi at Hyderabad House, as noted by External Affairs Ministry spokesperson Randhir Jaiswal on social media platform X. Jaiswal highlighted the discussions, emphasizing the “entire spectrum of India-UAE bilateral relations and future areas of cooperation.”

Since Prime Minister Modi’s landmark visit to the UAE in August 2015, the relationship between the two nations has evolved into a Comprehensive Strategic Partnership. Significant milestones include the signing of the Comprehensive Economic Partnership Agreement (CEPA) in February 2022 and the introduction of a Local Currency Settlement (LCS) System in July 2023. These agreements are designed to facilitate the use of the Indian Rupee and the UAE Dirham in cross-border transactions.

Bilateral trade reached approximately USD 85 billion for the 2022-23 period, marking both countries as key trading partners. The UAE is also one of the top four sources of foreign direct investment in India for the same period.

The Indian community in the UAE, numbering around 3.5 million, remains the largest expatriate group in the Gulf nation. The UAE’s involvement in global forums has been significant, including its role as a special invitee for the G20 during India’s Presidency and its recent entry into the BRICS grouping on January 1, with India’s support. Additionally, the UAE joined the Shanghai Cooperation Organization (SCO) as a dialogue partner in May 2023.

Defence cooperation between the two nations has also gained momentum, highlighted by the inaugural India-UAE bilateral army exercise, ‘Desert Cyclone,’ conducted in Rajasthan in January 2024.