1 week Ago
Prime Minister Narendra Modi on Monday held wide-ranging talks with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan focusing on boosting overall strategic ties between the two countries. The Crown Prince arrived here on Sunday. The meeting was held at New Delhi-based Hyderabad House.
"A warm welcome for a close friend.PM @narendramodi received HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi at Hyderabad House," External Affairs Ministry spokesperson Randhir Jaiswal said on 'X'. On Sunday, Commerce and Industry Minister Piyush Goyal received the Crown Prince at the Delhi airport following which he was accorded a ceremonial welcome, in reflection of the importance India has attached to the visit.
"Discussions on entire spectrum of India-the United Arab Emirates bilateral relations and future areas of cooperation lie ahead," he said. Crown Prince Al Nahyan is accompanied by several ministers from the UAE government and a business delegation. Following the landmark visit of Modi to the UAE in August 2015, bilateral relations between the two countries were elevated to a Comprehensive Strategic Partnership.
Both countries signed a Comprehensive Economic Partnership Agreement (CEPA) in February 2022 and a Local Currency Settlement (LCS) System in July 2023 to promote the use of Indian Rupee and AED (United Arab Emirates Dirham) for cross-border transactions. The two countries are among each other's top trading partners with a bilateral trade of about USD 85 billion in 2022-23, according to official data. The UAE is also among the top four investors in India in terms of foreign direct investments in 2022-23.
About 3.5 million strong and vibrant Indian community forms the largest expatriate group in the UAE. The UAE was invited as special invitee for G20 during India's Presidency of the grouping .
In Feb 2023, the India-UAE-France (UFI) trilateral was formally launched. With India's active support, the UAE joined SCO as dialogue partner in May 2023. The UAE also joined BRICS as a member on January 1 with India's support.
The India-UAE defence cooperation has also witnessed a renewed momentum in the last few years. (With PTI inputs).
