Page 4 - India Uae

Om Birla stresses Parliamentary exchanges between India-UAE to boost ties

Mentioning the strong possibilities of cooperation in technology, innovation, and investment in India, Birla opined that due to collective efforts, India has become the fifth largest economy in world

Om Birla stresses Parliamentary exchanges between India-UAE to boost ties

Mentioning the strong possibilities of cooperation in technology, innovation, and investment in India, Birla opined that due to collective efforts, India has become the fifth largest economy in world

Kingpin of Rs 2.2K cr gambling racket held in UAE, brought back to Gujarat

In a coordinated effort, the Central Bureau of Investigation (CBI), Gujarat police and Interpol NCB-Abu Dhabi on Sunday brought back the alleged kingpin of an over Rs 2,273 crore gambling racket apprehended in the UAE, an official said. A Red Notice was issued against the accused, Dipakkumar Dhirajlal Thakkar, wanted by the Gujarat police for cases of criminal breach of trust, cheating, forgery, criminal conspiracy, causing disappearance of evidence and offences under the Information Technology Act and Prevention of Gambling Act, the CBI said in a statement. Thakkar is an accused in a criminal case registered on March 25, 2023, at Madhavpura police station, Ahmedabad, for operating an international gambling racket. According to the CBI, he is allegedly a kingpin of an international illegal criminal gambling racket, operating through special software applications and using hawala channels for the dispersal of proceeds of crime reported to be more than Rs 2,273 crore. The probe agenc

GTRI suggests duty cuts withdrawal on jewellery under India-UAE FTA

With the government seeking a review of certain provisions of a free trade agreement with UAE, think tank GTRI on Friday asked for the withdrawal of duty cut concessions on platinum, silver, diamonds, gold jewellery, and tweak the rules of origin norms in the pact. India and the United Arab Emirates (UAE) signed the Free Trade Agreement (FTA), officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) on February 18, 2022, and implemented on May 1, 2022. The Global Trade Research Initiative (GTRI) has earlier stated that the pact contains provisions for unlimited imports of duty-free gold, silver, platinum, and diamonds into India over the next few years and it would hurt domestic industry. It has also alleged that there is a potential misuse of the rules of origin in the agreement and due to that India should review the CEPA. Meeting these rules are must to get duty concessions under the agreement. In the review, it said India should focus on issues such as "withdraw

GTRI suggests duty cuts withdrawal on gold jewellery under India-UAE FTA

With the government seeking a review of certain provisions of a free trade agreement with UAE, think tank GTRI on Friday asked for the withdrawal of duty cut concessions on platinum, silver, diamonds, gold jewellery, and tweak the rules of origin norms in the pact. India and the United Arab Emirates (UAE) signed the Free Trade Agreement (FTA), officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) on February 18, 2022, and implemented on May 1, 2022. The Global Trade Research Initiative (GTRI) has earlier stated that the pact contains provisions for unlimited imports of duty-free gold, silver, platinum, and diamonds into India over the next few years and it would hurt domestic industry. It has also alleged that there is a potential misuse of the rules of origin in the agreement and due to that India should review the CEPA. Meeting these rules are must to get duty concessions under the agreement. In the review, it said India should focus on issues such as "withdraw

RBI might ask banks dealing with UAE to push direct rupee-dirham settlement

The move is part of India's attempt to increase trade settlement in the rupee and reduce reliance on the dollar, an ambition that has evaded most nations

India-UAE trade pact: GTRI expresses concerns over precious metal imports

Think tank GTRI on Tuesday expressed serious concerns over spurt in import of precious metals from the UAE under a free trade agreement and demanded an investigation as it is impacting domestic jewellery industry and leading to potential annual revenue loss. The Global Trade Research Initiative (GTRI) said that by addressing these issues, authorities can ensure the integrity of import practices, safeguard domestic industries, and prevent significant revenue losses. Seeking an urgent review of the agreement, it said the India-UAE comprehensive economic partnership agreement (CEPA) allows unlimited imports of gold, silver, platinum, and diamonds from the UAE into India with zero tariffs in the coming years. This will lead to significant "annual revenue losses, move import business from banks to a few private traders, and replace top suppliers with Dubai-based firms," it said in its report. "The zero-tariff policy under CEPA is projected to cause an annual revenue loss of Rs 63,375 cr

EAM Jaishankar reviews 'multi-faceted' strategic ties with UAE counterpart

External Affairs Minister S Jaishankar has reviewed with his United Arab Emirates counterpart Abdullah bin Zayed Al Nahyan the multi-faceted India-UAE comprehensive strategic partnership and discussed new areas with "untapped potential" to enhance collaboration, an official statement said on Monday. Jaishankar, who was in the UAE on Sunday, also exchanged views with Al Nahyan on regional and global issues. He visited the iconic BAPS Hindu Mandir in Abu Dhabi and participated in the 10th International Yoga Day celebrations before meeting Al Nahyan. The two foreign ministers "reviewed the multi-faceted India-UAE Comprehensive Strategic Partnership," the Ministry of External Affairs (MEA) in New Delhi said on Monday. They expressed "happiness at the substantive progress in diverse areas of bilateral cooperation, including commercial and economic collaboration, fintech, education, culture, and people-to-people connect," it said in a statement. The ministry said the two ministers ...

Gold, silver import from UAE surges 210%, need duty revision in FTA: GTRI

India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to USD 10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). India allows 7 per cent tariffs or customs duty concessions on import of unlimited quantities of silver and a 1 per cent concession on 160 metric tonnes of gold. CEPA was signed in February 2022 and implemented in May 2022. Additionally, India facilitates gold and silver imports by allowing private firms to import from the UAE through the India International Bullion Exchange (IIBX) in Gift City. Previously, only authorised agencies

Adani Defence & Aerospace, UAE's EDGE sign defence cooperation agreement

The agreement aims to combine the two companies' product portfolios to meet the needs of both global and local customers

UAE-India CEPA Council inks MoU with Indian Chamber of Commerce

The UAE-India CEPA Council on Thursday said it has inked an agreement with Indian Chamber of Commerce to promote trade between the two countries. Under the MoU, it said both organisations will collaborate on increasing awareness within the UAE and India regarding the significant potential of the bilateral economic partnership, highlighting opportunities for companies to leverage the free trade agreement. A trade pact between the two nations came into force from May 2022. "They will also engage in dialogue and information sharing, develop avenues for member awareness, explore the hosting of joint events and facilitate member interactions," it added.

UAE-India CEPA Council inks MoU with Indian Chamber of Commerce

The UAE-India CEPA Council on Thursday said it has inked an agreement with Indian Chamber of Commerce to promote trade between the two countries. Under the MoU, it said both organisations will collaborate on increasing awareness within the UAE and India regarding the significant potential of the bilateral economic partnership, highlighting opportunities for companies to leverage the free trade agreement. A trade pact between the two nations came into force from May 2022. "They will also engage in dialogue and information sharing, develop avenues for member awareness, explore the hosting of joint events and facilitate member interactions," it added.

India allows export of 10,000 tonnes of onion to Sri Lanka, eases ban

Directorate General of Foreign Trade says India has approved 79,160 tonnes of onions for export, overriding a ban imposed in December

Govt allows UAE's Adnoc to export oil from Indian strategic storage

The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC). In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost". India, the world's third-biggest oil importer and consumer, imports over 85 per cent of its oil needs and has built strategic storages at three locations to store up to 5.33 million tonnes of oil as insurance ...

India-UAE relations: How friendship between the two countries has flourished since 1971

Since 1971, India-UAE ties have deepened across political, economic, and cultural spheres, with the UAE hosting 3.5 million Indians. Watch our video to know more.

PM Modi expresses gratitude to Indian diaspora in Qatar for his welcome

Prime Minister Narendra Modi has expressed gratitude to the Indian diaspora in Qatar for an exceptional welcome he received from them on his arrival here in the Qatari capital. Modi arrived in Doha on Wednesday night on an official visit to Qatar. This is the prime minister's second visit to Qatar, he first visited Qatar in June 2016. "An exceptional welcome in Doha! Grateful to the Indian diaspora," Modi posted on X along with some pictures. Several community members, including from the Muslim Bohra community, welcomed Modi on his arrival here. Modi, in his departure statement on Tuesday, had said the presence of over 8,00,000-strong Indian community in Doha is a testament to our strong people-to-people ties. On Wednesday, Prime Minister Modi had a wonderful meeting with his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani during which they discussed ways to strengthen bilateral ties. On Thursday, the prime minister will meet the Emir of Qatar, Sheikh Tamim bin Hamad

UAE Vice President presents copy of book, personalised message to PM Modi

Prime Minister Modi thanked Al Maktoum for his graciousness towards the Indian community living in Dubai. The two leaders also discussed people-to-people ties at length

BAPS Hindu Temple in UAE: Matter of pride, cultural icon, says diaspora

Prime Minister Narendra Modi will inaugurate the first Hindu temple, BAPS Hindu Temple here on Wednesday

BAPS Hindu Temple in UAE: Matter of pride, cultural icon, says diaspora

Prime Minister Narendra Modi will inaugurate the first Hindu temple, BAPS Hindu Temple here on Wednesday

Highlights of the day: India will become 3rd largest economy, says PM

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