In continuation with December, January and February will mark key moments in India-UAE relations with leaders of the two countries meeting for multilateral events and otherwise.
On December 1, Prime Minister Narendra Modi went to Dubai for a day to attend the COP28 Summit. In January, UAE President Mohammed bin Zayed (MBZ) Al Nahyan will be in India as chief guest for the Vibrant Gujarat Summit, which is being hosted by Prime Minister Narendra Modi’s home state. In February, Modi will again travel to Abu Dhabi to inaugurate BAPS Hindu Temple where the two leaders may again meet, as Modi will also hold a community event at Zayed Stadium day before the inauguration of the temple.
Under Modi’s leadership, engagements with the Gulf have increased. Previously, it was a ‘buyer-seller’ relation as India buys energy, petroleum, petroleum products and chemicals from them. Now, it is a partnership, which focuses on energy and food security. The way Modi refers to Sheikh Zayed as his brother also speaks volumes not just about the Modi-MBZ bonhomie, but also how the two countries are coming closer.
AT THE VIBRANT GUJ SUMMIT
On January 9, Modi will receive the President of UAE at Ahmedabad and the two leaders are likely to hold a road show from the airport to Gandhi Ashram. Roadshows are a distinct style of Modi’s people outreach and MBZ will be given a grand welcome by the people of Ahmedabad.
The Vibrant Gujarat summit will also be attended by UAE’s Minister of State for Trade Thani Bin Ahmed Al Zeyoudi and a full delegation of business community from the country.
This visit could witness signing of MOUs likely in sectors of renewable energy (solar, hydrogen and grid connectivity), construction of food parks, healthcare, and building ties through enhancing the India-UAE Comprehensive Economic Partnership Agreement. A UAE-India Business Summit is also planned on the sidelines of Vibrant Gujarat. The two countries will also attempt to take the annual bilateral non-oil trade to up to USD 100 billion and trade in services to USD 15 billion in the upcoming five years.
Modi’s visit to the UAE in July marked significant milestones in the deepening of the UAE-India bilateral relationship. During this visit, three MOUs were signed. First, to establish a framework to encourage the use of local currencies for cross-border transactions by the governors of respective central banks. The second MOU pertained to the interlinking of payment and messaging systems and lastly plans were set in motion for the establishment of the Indian Institute of Technology – Delhi in Abu Dhabi.
In 2022, the first summit of the four-nation grouping, of which India and the UAE are members, announced an investment of USS 2 billion to develop a series of integrated food parks across India and setup a 300 Megawatt Hybrid Renewable energy Project in Gujarat.
Over 3,860,000 Indian expatriates are to living in the UAE and account for the fourth highest number of overseas Indian people in the world.
MODI WAS FIRST PM TO VISIT UAE IN 35 YEARS
Modi in 2015 became the first India PM to visit the UAE after a gap of 35 years. Modi has made six visits to the UAE in the past eight years. The president of UAE visited India thrice, once in 2016 and once in 2017, when he was the Chief Guest at a Republic Day Event, and during the G20 summit in September. During these visits, India-UAE relations were elevated to a Comprehensive Strategic Partnership.
India, UAE trade rose to 85 billion in 2022 making UAE India’s third largest trading partner for 2022-23. India is UAE’s second largest trading partner. In February 2022, India became the first country with which the UAE signed a comprehensive Economic Partnership Agreement (CEPA) which resulted in a increase in bilateral trade by 15%.
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