PM Modi's visit to UAE

Tags: International Relations

PM-Modi's-visit-to-UAEPrime Minister Narendra Modi held talks with President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi on July 15, 2023, during his visit to the United Arab Emirates (UAE).

An Overview of the news:

  • This is the fifth visit of an Indian Prime Minister to UAE in the last eight years.
  • In the year 2015, Prime Minister Modi became the first Prime Minister of India to visit UAE in 34 years.

On July 15, the following activities were agreed upon between the two countries:

  • Agreed to trade in Rupee and UAE's currency Dirham;
  • Approval for linking of UPI and UAE's instant payment platform;
  • Agreement on setting up of IIT Delhi campus in UAE;
  • India's support for the UAE's chairmanship of COP-28;
  • Agreed to increase bilateral trade to USD 100 billion (currently USD 85 billion).

Trade between the two countries:

  • India-UAE trade to grow to US$ 85 billion in 2022, making UAE India's third largest trading partner and India's second largest export destination during 2022-23.
  • India is the second largest trading partner of the UAE.

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