India-UAE strategic relations – Believers IAS Academy

India-UAE strategic relations

Context:

Lately, the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed Al Maktoum, paid his first official go to to India, marking a major second in India-UAE strategic relations.

Relevance:
GS-02 (Worldwide relations)

Key Highlights of the Go to:

• Schooling Collaboration: IIM Ahmedabad and the Indian Institute of Overseas Commerce (IIFT) to open abroad campuses in Dubai, boosting academic ties.
• Maritime Infrastructure: Ship-repair clusters to be developed in Kochi and Vadinar, enhancing maritime cooperation.
• Commerce and Commerce: The Dubai Chamber of Commerce will open its India workplace, strengthening enterprise linkages.
  • The Digital Commerce Hall (VTC) was acknowledged for facilitating clean commerce and supporting the India-Center East-Europe Financial Hall (IMEEC).

India-UAE Relations at a Look:

• Bilateral commerce: The UAE is India’s third-largest buying and selling associate. In 2022, each nations signed the Complete Financial Partnership Settlement (CEPA) to reinforce bilateral commerce.
• Each nations are sustaining energetic cooperation in multilateral and plurilateral platforms like: IMEEC, BRICS, I2U2 (India-Israel-UAE-USA), UFI Trilateral (UAE-France-India).
• The Indian diaspora within the UAE, numbering round 3.5 million, serves as a significant bridge strengthening bilateral ties between the 2 international locations.
• Cultural initiatives, such because the inauguration of the primary Hindu temple in Abu Dhabi, underscore the mutual respect for range, tolerance, and peaceable coexistence, additional deepening people-to-people and cultural connections between India and the UAE.

Extra data:

India’s main FDI inflows throughout April 2000-December 2024:

• Mauritius at Rs. 15,30,256 crore (US$ 178.81 billion) with a complete share of 24.8%,
• Singapore at 23.8% with Rs. 1,471,291 crore (US$ 171.92 billion),
• USA at 9.5% with Rs. 5,89,903 crore (US$ 68.93 billion),
• Netherlands at 7.3% with Rs. 451,435 crore (US$ 52.75 billion),
• Japan at 6% with Rs. 3,70,390 crore (US$ 43.28 billion).