This little statement encapsulates the depth and strength of the relationship between the two countries. With this visit, PM Modi has made his sixth trip to the UAE in the last nine years, and it has advanced geopolitical, cultural, and economic cooperation between the two countries.
Ten agreements have been signed by India and the UAE to cooperate in important areas like energy, infrastructure, and investments. In 2022–2023, their bilateral commerce amounted to almost $85 billion, with the UAE ranking among the largest foreign direct investment contributors to India.
Source: India Narrative
Regional connectivity is anticipated to increase as a result of the Intergovernmental Framework Agreement for Cooperation for the Empowerment and Operation of the India-Middle East-Europe Economic Corridor.
The corridor is seen as a substitute for China’s Belt and Road Initiative, which was unveiled during the September G20 Summit in New Delhi. Another significant development is the agreement to integrate domestic debit/credit cards and the instant payment platforms, AANI in the UAE and UPI in India.
Source: Business Today
The opening of the Swaminarayan Mandir in Abu Dhabi was the highlight of PM Modi’s visit. The temple represents a religious and cultural outreach to the 3.5 million-strong Indian diaspora, which makes up the largest expat group in the United Arab Emirates. It also serves as a monument of interfaith harmony in the nation with a majority of Muslims. The two countries have become closer thanks in large part to the PM’s good relationship with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Having an ally of that kind bodes well for India’s expanding influence in the Gulf.
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