"I assure you that we will work together to bring to reality the dreams you see, here and in India," Modi said.
"Our relation with the UAE is not just that of a buyer and a seller. It has become much more," Modi said in his speech in Hindi.
He thanked the Gulf countries -- a home to nearly 3.3 million strong Indian diaspora -- for providing them "a home away from home".
"I believe this temple will not only be unique in terms of architecture and splendour, but will also give a message of 'Vasudhaiva Kutumbakam' (the world is one family) to people across the world," Modi said.
Wooing UAE businessmen to invest in India, Modi said India's leap in World Bank's ease of doing business rankings from 142 to 100 was "unprecedented, but we are not satisfied".
"We want to do better. We will do whatever it takes to make it possible," Modi said.
This is Modi's second visit to the UAE after his trip in 2015.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)