Page 4 - India Uae

Navy chief Dinesh Tripathi to embark on UAE visit to boost defence ties

Navy Chief Adm Dinesh K Tripathi will visit the UAE from October 21-24 to strengthen defence cooperation between the two countries and explore new avenues of cooperation between their navies, an official statement said on Monday. Adm Tripathi will also witness the conduct of the third edition of the India-UAE bilateral naval exercise, the defence ministry said in the statement. The Chief of the Naval Staff is scheduled to hold discussions with Rear Admiral Pilot Saeed Bin Hamdan Al Nahyan, Commander of the UAE Naval Forces and other senior government officials of the UAE, it said. Adm Tripathi is visiting the UAE from October 21-24, the ministry said. "This visit aims to strengthen the defence cooperation between the two countries, in line with the deepening Comprehensive Strategic Partnership across all sectors, and consolidate bilateral maritime relations between India and UAE, and to explore new avenues of cooperation between the two navies," the statement said. He is also ...

Govt to open Invest India office in Dubai to attract UAE investments: Goyal

The government has decided to open an office of Invest India in Dubai to serve as a dedicated point of contact for potential UAE investors seeking to invest in India, Union Minister for Commerce and Industry Piyush Goyal said on Monday. Goyal, who was addressing the media after the 12th meeting of India-UAE High-Level Task Force on Investment held here, also announced that the first overseas campus of the Indian Institute of Foreign Trade (IIFT) will be set up in Dubai, which will be a boon for the 3.5 million-strong Indian community residing in the UAE. During the meeting, co-chaired by Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority, the two sides reviewed progress on several key initiatives and expressed satisfaction at the rapid pace of implementation. These initiatives include bilateral trade in local currencies, the integration of payment systems of India and the UAE, cooperation on Central Bank Digital Currencies, the launch of

India, UAE to set up food corridor with $2 billion initial funding

The UAE's investments into India are expected to increase as the bilateral investment treaty (BIT), signed in August, takes effect

India-UAE CEPA: New Delhi to flag concerns over silver import rules

New Delhi has been particularly concerned about the value-addition norms pertaining to these imports and will seek their view on the rules of origins while exporting these items

India eases certain conditions for UAE in bilateral investment treaty: GTRI

India has eased certain conditions for UAE in the bilateral investment treaty by including portfolio investments and reduction in the local remedies exhaustion period from five years to three years in the pact, economic think tank GTRI said on Monday. The India-UAE Bilateral Investment Treaty (BIT) came into force on August 31 this year. The model BIT requires investors to attempt to resolve disputes through India's legal system for at least five years before seeking international arbitration. In contrast, the India-UAE BIT reduces this period to three years, giving investors quicker access to Investor-State Dispute Settlement (ISDS). "While this makes the treaty more investor-friendly, it also weakens India's ability to settle disputes domestically, increasing the likelihood of arbitration cases that could challenge India's regulatory decisions," the Global Trade Research Initiative (GTRI) said in a statement. It added that local remedies exhaustion means that investors must firs

US, UAE discuss progress on India-Middle East-Europe Economic Corridor

US President Joe Biden and his counterpart from the United Arab Emirates Sheikh Mohamed bin Zayed discussed the progress of the landmark India-Middle East-Europe Economic Corridor (IMEC) and underscored its potential to usher in a "new era of international connectivity". The ambitious project was launched at the 2023 G20 Leaders' Summit in New Delhi, together with the leaders of India, Saudi Arabia, France, Germany, Italy, and the European Union. When complete, it would connect India by ship-to-rail connections through the United Arab Emirates, Saudi Arabia, Jordan, Israel, and Europe through Greece. At the meeting held at the White House on Monday, Biden and Zayed reaffirmed that the corridor will generate economic growth, increase efficiencies, lower greenhouse gas emissions, and enable the transformative integration of Asia, Europe, and the Middle East, according to a joint statement. The two leaders underscored that the transformative partnership had the potential to usher in a

India, UAE showed women-led development can deliver better results: Murmu

India and the United Arab Emirates have demonstrated that women-led development can deliver more effective results for overall socio-economic development, President Droupadi Murmu said on Monday. Her assertion came during a meeting she had with the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan who had called on the President at the Rashtrapati Bhavan here. She also praised the UAE leadership for ensuring the welfare, particularly the special care taken during the difficult times of the Covid pandemic, of more than 35 lakh Indian citizens in the West Asian country. Murmu was also happy to note the high rate of participation and contribution of women in all aspects of Emirati society, a statement issued by the President's office said. She said, "Both our countries have demonstrated that women-led development can deliver more effective results for overall socio-economic development". The President expressed satisfaction that during the Crown Prince's visit,

India, UAE showed women-led development can deliver better results: Murmu

India and the United Arab Emirates have demonstrated that women-led development can deliver more effective results for overall socio-economic development, President Droupadi Murmu said on Monday. Her assertion came during a meeting she had with the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan who had called on the President at the Rashtrapati Bhavan here. She also praised the UAE leadership for ensuring the welfare, particularly the special care taken during the difficult times of the Covid pandemic, of more than 35 lakh Indian citizens in the West Asian country. Murmu was also happy to note the high rate of participation and contribution of women in all aspects of Emirati society, a statement issued by the President's office said. She said, "Both our countries have demonstrated that women-led development can deliver more effective results for overall socio-economic development". The President expressed satisfaction that during the Crown Prince's visit,

Four agreements signed between Indian, UAE entities in energy sector

India and the United Arab Emirates on Monday inked four agreements to expand energy cooperation as Prime Minister Narendra Modi held wide-ranging talks with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, focusing on boosting overall strategic ties. An Agreement for long-term LNG supply between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Ltd and another between ADNOC and India Strategic Petroleum Reserve Ltd (ISPRL) are among the four pacts. Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corporation of India Ltd (NPCIL) also inked an MoU for the operation and maintenance of the Barakah Nuclear Power Plant, according to the Ministry of External Affairs (MEA). The fourth pact is a production concession agreement for Abu Dhabi onshore block-one between Urja Bharat and ADNOC. A separate pact was inked between the Gujarat government and Abu Dhabi Developmental Holding Company PJSC on setting up food parks in India. MEA spokesperson .

ADNOC agrees to supply Indian Oil with 1 MMT LNG per year for 15 years

ADNOC has big ambitions in gas and LNG, which along with renewable energy and petrochemicals it sees as pillars for its future growth, putting it in competition with regional rivals Qatar

Abu Dhabi Crown Prince Al Nahyan receives warm welcome in Delhi on arrival

Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan arrived here to a warm welcome on Sunday as he kick-started a two-day maiden visit to India to further boost bilateral ties in a range of areas, including energy and connectivity, amid escalating tensions in West Asia. Commerce and Industry Minister Piyush Goyal received the Crown Prince at the airport following which he was accorded a ceremonial welcome, in reflection of the importance India has attached to the visit. "A new milestone in a historic relationship. His Highness Sheikh Khaled bin Zayed Al Nahyan arrived in Delhi on his first official visit to India," External Affairs Ministry Spokesperson Randhir Jaiswal said on 'X'. "Warmly received by @CimGOI @piyushgoyal and accorded a ceremonial welcome," he said. The Crown Prince is accompanied by several ministers from the UAE government and a business delegation. After concluding the Delhi leg of his visit, Al Nahyan will travel to Mumbai to participate in

Abu Dhabi Crown Prince Al Nahyan receives warm welcome in Delhi on arrival

Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan arrived here to a warm welcome on Sunday as he kick-started a two-day maiden visit to India to further boost bilateral ties in a range of areas, including energy and connectivity, amid escalating tensions in West Asia. Commerce and Industry Minister Piyush Goyal received the Crown Prince at the airport following which he was accorded a ceremonial welcome, in reflection of the importance India has attached to the visit. "A new milestone in a historic relationship. His Highness Sheikh Khaled bin Zayed Al Nahyan arrived in Delhi on his first official visit to India," External Affairs Ministry Spokesperson Randhir Jaiswal said on 'X'. "Warmly received by @CimGOI @piyushgoyal and accorded a ceremonial welcome," he said. The Crown Prince is accompanied by several ministers from the UAE government and a business delegation. After concluding the Delhi leg of his visit, Al Nahyan will travel to Mumbai to participate in

India seeks review of UAE trade deal amid spike in silver, gold imports

India is reviewing its trade deal with the UAE as a surge in silver and gold imports raises concerns over tariff concessions, value addition norms, and govt procurement commitments under the CEPA

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