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India-UAE Relations Reach New Heights, Says Indian Ambassador to UAE

On the occasion of Indian Independence Day, Sunjay Sudhir, the Indian Ambassador to the UAE, highlighted the strengthening ties between India and the United Arab Emirates.

Ambassador Sudhir emphasized that bilateral relations have undergone a rapid and positive transformation in recent years, guided by the vision of leadership on both sides. “India and the UAE are closer than ever before,” he stated, pointing to significant advancements in financial integration and trade relations.

The ambassador noted several key developments, including the launch of India’s United Payments Interface (UPI) in the UAE and the implementation of a Rupee-Dirham Local Currency Trade Settlement Mechanism. He also highlighted the adoption of India’s Rupay Card technology as the foundation for the UAE’s domestic card scheme, ‘Jaywan’.

Sudhir mentioned the upcoming establishment of “Bharat Mart” in Dubai, set to enhance the UAE’s global logistics capabilities. He also praised the success of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which has led to surging bilateral trade.

The ambassador went on to highlight India’s economic achievements, noting that the country is currently the 5th largest economy globally and is projected to become the 4th largest by the end of 2025. He added that India ranks third globally in terms of unicorn startups, with a collective valuation of nearly US$350 billion.

Sudhir particularly praised the 3.5 million-strong Indian community in the UAE, describing them as a critical socio-economic pillar for both countries. He commended their role in fostering stronger ties and contributing to the UAE’s growth and development.

As India celebrates its 78th Independence Day, the Indian envoy’s remarks underscore the multifaceted and deepening relationship between India and the UAE, spanning economic cooperation, technological integration, and people-to-people connections.

By – Vinod Kumar (Dubai)

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Last Updated: 8th Oct 2024