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Prime Minister Narendra Modi on Monday received United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan at the Delhi airport, signalling the importance India attached to his visit. Al Nahyan will be in the national capital for less than two hours, according to his schedule released by the Ministry of External Affairs (MEA). His visit to India comes amid a volatile situation in the Middle-East arising out of the sharp decline in Iran-US ties, simmering tensions between Saudi Arabia and the United Arab Emirates over Yemen and the unsettling political scenario in Gaza. Al Nahyan and Modi will hold wide-ranging talks shortly. People familiar with the UAE president's visit said trade and investment, defence industry cooperation and energy initiatives are expected to be on the agenda of his talks with the Indian leadership. The situation in the Middle East is also likely to figure in the talks, they said. It will be the UAE leader's third official visit to India since assumin
India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services to boost economic ties, the commerce ministry said on Thursday. These issues were discussed during a meeting of the Joint Committee under the India-UAE CEPA (comprehensive economic partnership agreement). CEPA is a kind of free trade agreement (FTA). "The two sides conducted a comprehensive review of progress under CEPA and detailed discussions were held on market access issues, data sharing, allocation of Gold TRQ (tariff rate quota), anti-dumping matters, services, Rules of Origin, BIS licensing," it said. The India side also briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process. The two sides also deliberated upon enhancing regulatory cooperation in pharmaceuticals, resolution of issues related to Certificates of Origin, and early signing of the MoU on Food Safety and Technical
India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services to boost economic ties, the commerce ministry said on Thursday. These issues were discussed during a meeting of the Joint Committee under the India-UAE CEPA (comprehensive economic partnership agreement). CEPA is a kind of free trade agreement (FTA). "The two sides conducted a comprehensive review of progress under CEPA and detailed discussions were held on market access issues, data sharing, allocation of Gold TRQ (tariff rate quota), anti-dumping matters, services, Rules of Origin, BIS licensing," it said. The India side also briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process. The two sides also deliberated upon enhancing regulatory cooperation in pharmaceuticals, resolution of issues related to Certificates of Origin, and early signing of the MoU on Food Safety and Technical
The government on Wednesday said the allocations of tariff rate quota (TRQ) for gold under the free trade agreement between India and the UAE will be undertaken based on the competitive bidding/tender process. Under the agreement, India agreed to import up to 200 metric tonnes of gold annually from the UAE with a one per cent tariff or duty concession under tariff rate quota (TRQ). Amending the procedure for allocation of TRQ for gold under the India-UAE trade pact, the Directorate General of Foreign Trade (DGFT) said in a trade notice that "the allocations of TRQ for Gold under CEPA (comprehensive economic partnership agreement) will be undertaken based on the competitive bidding/tender process". It also said the eligible applicant must be registered with the Bureau of Indian Standards (BIS) for hallmarking; and with GST. Import of Gold Dore under TRQ shall not be considered, it added. Eligible applicants can file their applications online through the DGFT website. Further, the
India and the UAE have set a target to double bilateral trade in non-oil and non-precious metal to USD 100 billion over the next 3-4 years, Commerce and Industry Minister Piyush Goyal said on Thursday. Currently, the bilateral trade in non-oil and non-precious metals stands at about USD 50-55 billion. The minister also said both sides have decided to work on modalities to invest in regions, such as Africa and the GCC (Gulf Cooperation Council), in various sectors like infrastructure, by leveraging the UAE's investment strength and India's talent pool. These issues were discussed during the 13th meeting of the India-UAE High-Level Joint Task Force on Investments here. It was co-chaired by visiting Goyal and Sheikh Hamed bin Zayed Al Nahyan, MD of Abu Dhabi Investment Authority. "We have set a new target to double bilateral trade in non-oil and non-precious metals to USD 100 billion in the next 3-4 years," Goyal told reporters here. He said both sides also explored new frontiers fo
India is in "deep negotiations" to create 1 million homes in Australia and has reached out to the UAE for financial help on the same, Union Minister Piyush Goyal has said. Goyal, who handles the Commerce and Industry portfolio, pegged this as a USD 500 billion opportunity. "I am in deep negotiation with my counterpart in Australia to create 1 million homes. 1 million homes. Anybody wants to do the maths? A million homes in Australia would be at least USD 500 billion opportunity," Goyal said while speaking here over the weekend. He did not elaborate on details of the project, like the location in Australia, the exact spending by Canberra on it, or India's role in the project. Goyal said New Delhi is proposing to allow Indian workers to go to Australia, get trained on the necessary skill sets required to build homes as per local standards and create the housing. According to some reports, there is a mismatch between demand and supply in Australia, which is blamed for the high home .
Prime Minister Narendra Modi has spoken to UAE President Mohamed bin Zayed Al Nahyan as they laid emphasis on further developing and deepening the collaboration between two countries for the shared benefit of the peoples of both countries, a statement said on Thursday. Both leaders spoke over the phone and reaffirmed their mutual commitment to further strengthening the bilateral Comprehensive Strategic Partnership between India and the UAE. They positively assessed the remarkable progress made across various sectors of bilateral cooperation and laid emphasis on further developing and deepening collaboration for the shared benefit of the peoples of both countries. The statement said Sheikh Mohamed warmly congratulated Modi on becoming the second longest-serving prime minister in a continuous tenure in India, and wished him continued success in his service to the nation.