Indian Prime Minister, Narendra Modi, has described the UAE as a “valued partner” ahead of his visit to the country on Sunday.
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Prime Minister Narendra Modi’s two-day trip to the United Arab Emirates on August 16 and 17 puts the spotlight on an important region long neglected by Indian foreign policy.
The UAE has among the largest sovereign wealth funds in the world, but UAE project investments in India are just about $3.01 billion and a similar amount as portfolio investment.
CII also stated that TAQA, the Abu Dhabi-based global energy and water company which is the largest private operator of hydroelectric plants in India, as also Etihad through its investment in Jet Airways could act as torchbearers for expanding investment from the UAE into India. UAE is one such country, and PM Modi’s visit will, hopefully, fortify India’s ties with the desert economy.
After oil, gold and jewellery products account for the biggest chunk in UAE’s exports to India.
Whether you are an Indian software professional in the US West Coast or a blue-collar worker in the Gulf, you belong to India.
Mr. Swarup said it would be a useful opportunity for the Prime Minister to interact with the 2.6 million Indians who lived in the UAE.
But the government first needs to reach a rapprochement with the opposition Congress party that is adamant in its demand for the resignation of three of Modi’s colleagues.
K.V.Shamsudheen, chairman, Pravasi Bandhu Welfare Trust, said that over 2.5 million Indian expatriates are expecting a lot from the vibrant Indian prime minister.
A year after Modi’s first Independence Day speech, hailed as a political tour de force, analysts say he risks failing to deliver on his promises. We think that India’s growth story is being written once again with a strong blueprint. The UAE is a key country India is looking for investments, especially in the infrastructure.
“India is UAE’s second largest trading partner and the UAE is India’s third largest trade partner”.
Political opposition had already forced the Indian leader to backtrack on a pro-business land Bill that would have made it easier to acquire farmland and help realise his vision of building modern cities and industrial corridors. The two countries signed a bilateral investment promotion and protection agreement in 2013.
During the reception, the Indian consulate has planned a cultural show to welcome Prime Minister Modi.
Adeeb Ahmad, CEO of Lulu worldwide Exchange also expressed his optimism about a boost in Indo-UAE trade relations.
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Modi was elected in 2014 on a platform of invigorating India’s slowing economy, but the delays indicate Modi’s ambitious programs will not be passed in this parliamentary session. A large number of them are Muslims and many are Christians, too.
