India and UAE: Growing Closer as Friends and Partners
According to the Ambassador of India to UAE, Sunjay Sudhir, India and the UAE are turning out to be great partners. They have been cooperating in many spheres, particularly business and people-to-people relations. The leaders of both nations have helped cement this relationship.
Countries Closer Than Ever
India and the UAE now have warm relations with each other. They are easing the circulation of money across the borders. For instance:
• Now, people can use India’s UPI payment system in the UAE
• They can trade in their own currencies – Indian Rupees and UAE Dirhams
• Indian technology to be used in a new UAE payment card titled ‘Jaywan’
Together Growing Business
The two countries are doing more business with each other:
• They have a special trade agreement known as CEPA
• They also have an agreement to protect investments
Soon, the UAE will have a “Bharat Mart” to help sell Indian goods to the world.
India’s Booming Economy
India can be quite proud of its fast-growing economy:
It is now the 5th largest in the world;
It may become the 4th largest by the end of 2025;
Among big economies, India is certainly one of the fastest-growing;
It has a large number of new and successful companies—these are normally called ‘start-ups’.
Indians in the UAE
There are many Indians living in the UAE:
More than 3.5 million Indians live there.
– It’s the biggest group of Indians residing outside India
– They help in bonding the relationship between India and UAE closer
– They contribute to the growth and development of UAE
The Ambassador believes that Indians in UAE will continue helping both countries understand each other better and grow together.
