Page 6 - India-uae

India's engineering exports surge in US, Saudi Arabia, and UAE in October

The value of engineering exports to the US in October was $1.39 billion, up 2.2 per cent year-on-year, while shipments to the UAE rose 2.9 per cent to $348.6 million

PM Modi to attend UN climate talks in UAE from Nov 30 to Dec 1: Report

Prime Minister Narendra Modi will attend the UN climate talks in Dubai on November 1 and deliver a national statement highlighting India's climate action, sources said on Friday. The prime minister will reach the UAE on November 30, deliver India's national statement during the United Nations' World Climate Action Summit on December 1 and return the same day, a source told PTI. The World Climate Action Summit on December 1-2 will see heads of states and governments, leaders from civil society, business, youth, indigenous peoples' organizations, frontline communities, science and other sectors discussing actions and plans aimed at scaling climate action. Modi has been championing Lifestyle for Environment (LiFE movement), urging countries to adopt planet-friendly living practices and move away from deeply consumerist behaviours. Recognising the criticality of this decade (2021-2030) for climate action, there's a call for rebalancing consumption patterns between the Global North and

TRQ holders in India-UAE pact can import gold via IIBX bullion exchange

Indian jewellers having a valid license to import a specified quantity of gold at concessional customs duty from the UAE, under the free trade agreement, can import it through bullion exchange IIBX, according to a government notification. The Directorate General of Foreign Trade (DGFT) notification also said that those companies can obtain the physical delivery of the consignment through IFSCA (International Financial Services Centres Authority) registered vaults located in special economic zones, as per the authority's guidelines. The India-UAE free trade agreement, which came into force in May 2022, provides one per cent duty concessions to domestic importers on a specified quantity of gold under TRQ (tariff rate quota) provisions of the pact. The DGFT provides TRQ certificate to companies for imports and they are also notified by IFSCA. "Valid India UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same thro

About 3,500 exhibitors to showcase products at int'l trade fair from Nov 14

As many as 3,500 exhibitors from India and other countries like UAE, Iran and Thailand will showcase their products during the 14-day international trade fair, beginning here at Pragati Maidan on Tuesday. With the theme 'Vasudhaiva Kutumbakam - United by Trade' the 42nd edition of the India International Trade Fair 2023 (IITF) will witness the participation of all states and Union territories, India Trade Promotion Organisation (ITPO) said in a statement. Pragati Maidan is under the administrative control of ITPO, an arm of the commerce ministry. "With nearly 3,500 exhibitors from both India and abroad, IITF 2023 occupies an expansive 110,000 square meters," it said. Partner States for this event are Bihar and Kerala, while Delhi, Jammu and Kashmir, Jharkhand, Maharashtra and Uttar Pradesh are the Focus States. Representatives from 13 countries, including Afghanistan, Bangladesh, Oman, Egypt, Nepal, Thailand, Turkiye, Vietnam, Tunisia, Kyrgyzstan, Lebanon, Iran and UAE are ...

NPCI Int'l to develop UAE's domestic card scheme in partnership deal

Scheduled to launch in early 2024, the DCS will aim to facilitate the growth of e-commerce and digital transactions in the United Arab Emirates

Huge demand for Indian chicken, basmati rice in Middle East: UAE industry

Seeking Indian government support for imports, the UAE food industry said that huge demand is there in the Middle East countries for chicken, dairy, basmati rice, frozen marine goods and wheat products from New Delhi. The UAE industry has sought the support of the Indian government in smooth certification processes, more coordination with Agricultural & Processed Food Products Export Development Authority (APEDA), and harmonisation of standards. They also said that high quality packaging of Indian products would help boost New Delhi players to increase exports of food and food products in countries like Bahrain, Kuwait, the Sultanate of Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). Commerce and Industry Minister Piyush Goyal, who was in the UAE, last week held detailed discussions with these importers and discussed ways to increase exports from India. "There is huge scope for India to export frozen products in these countries," Global Food Industries LLC Head of ...

India, UAE to discuss investment related challenges as FDI decline in India

The first half of the 2023 calendar year witnessed a 37 per cent drop in FDI equity inflows, totalling $20.21 billion, compared to the same period the previous year

NPCI International to sign pact with Al Etihad Payments of UAE on Oct 5

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, will ink an agreement with Al Etihad Payments on Thursday in Abu Dhabi to facilitate cross-border transactions, an official said. The MoU (Memorandum of Understanding) will be signed on development of domestic card scheme of UAE based on India's RuPay debit and credit card stack, the official added. The agreement will be signed in the presence of Commerce and Industry Minister Piyush Goyal, who is leading a business delegation to Abu Dhabi from October 5 to October 6. Goyal will co-chair the eleventh meeting of India-UAE High-Level Task Force on Investments along with Sheikh Hamed Bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority. The meeting will be attended by Mohamed Hassan Alsuwaidi, Minister of Investment, MD and CEO of ADQ; Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Khaled Mohamed Balama, Governor of the Central Bank of the UAE; and

1st crude oil transaction in local currency undertaken between India-UAE

This is India's first-ever LCS and is expected to reduce transaction costs and time and increase reliance on local currencies

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First year of FTA with UAE: India's fuel exports grow faster than non-fuel

The trade deal is expected to benefit almost 90 per cent of India's exports, in terms of value

India, UAE will keep working closely to further global good: PM Modi

Before PM Modi departed for New Delhi, Foreign Secretary Vinay Mohan Kwatra said the trip was short but very significant, a landmark in the partnership between India and the UAE

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PM Modi leaves for India after concluding day-long productive visit to UAE

Prime Minister Narendra Modi on Saturday concluded his day-long "productive" visit to the UAE during which he held bilateral talks with President Sheikh Mohamed bin Zayed al Nahyan. "Concluding a productive UAE visit. Our nations are working together on so many issues aimed at making our planet better. I thank HH Sheikh Mohamed bin Zayed Al Nahyan for the warm hospitality, Modi said on Twitter. The two leaders agreed to start trade settlements in local currencies, link the Fast payment systems of India and the UAE and open IIT-Delhi campus in the Gulf country. The Prime Minister departed for India after a banquet hosted in his honour by the UAE President. A visit defined by transformative outcomes. PM @narendramodi emplanes for New Delhi after wrapping up a successful visit to UAE, Ministry of External Affairs Spokesperson Arindam Bagchi tweeted.

India, UAE agree on trade settlement in local currencies to boost ties

India and the UAE on Saturday agreed to start trade settlement in their currencies and link the Indian Unified Payments Interface with the Gulf country's Instant Payment Platform (IPP) as Prime Minister Narendra Modi held comprehensive talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan here. In his remarks after meeting the UAE President, Modi said India-UAE trade witnessed a 20 per cent increase since the signing of the Comprehensive Economic Partnership Agreement last year. Modi said the agreement signed on Saturday for trade settlement in the currencies of the two countries shows the strong economic cooperation and mutual trust between the two nations. "It is always gladdening to meet HH Sheikh Mohamed bin Zayed Al Nahyan. His energy and vision for development are admirable. We discussed the full range of India-UAE ties including ways to boost cultural and economic ties," Modi said on Twitter after the meeting. The agreement with the UAE on trade settlement in the ...

RBI, Central Bank of UAE sign two MoUs for trade in local currencies

With messaging system MoU, no need to depend on SWIFT, says Governor Das

PM Modi holds talks with UAE President in Abu Dhabi to boost bilateral ties

Prime Minister Narendra Modi on Saturday held talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan to further deepen the multifaceted bilateral ties. Modi was accorded a ceremonial welcome here at the Qasr-Al-Watan the presidential palace - where he was greeted by the UAE President with a warm embrace. Children were seen waving the Indian tricolour as the Prime Minister inspected the guard of honour. Energy, food security, and defence are expected to be the focus areas of Modi's visit to the UAE during which the two countries will review the progress in bilateral relations after they inked a landmark trade agreement last year. The Comprehensive Economic Partnership Agreement (CEPA), which gave a new thrust to the economic engagement between the two countries, was signed during the Covid-19 pandemic. India and the UAE are engaged across various sectors such as trade, investments, energy, food security, science and technology, education, fintech, defence, security, and robus

PM Modi assures India's full support for UAE's COP-28 presidency: Report

Prime Minister Narendra Modi assured India's full support for UAE's COP-28 presidency as he held productive talks with the UN climate conference's President-designate Sultan Al Jaber here on Saturday. Modi arrived here in the capital of the UAE following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to strengthen bilateral ties. "PM @narendramod held a productive meeting with Dr. Sultan Al Jaber, President-designate of @COP28_UAE and Group CEO of Abu Dhabi National Oil Company," External Affairs Ministry Spokesperson Arindam Bagchi tweeted. "Dr. Jaber briefed PM on the forthcoming COP-28. PM assured India's full support for UAE's COP-28 presidency. PM also highlighted India's efforts and initiatives to address climate change," he said. The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28

PM Narendra Modi leaves for UAE after concluding two-day visit to France

Prime Minister Narendra Modi on Saturday left for the UAE after concluding his two-day visit to France where he held wide-ranging talks with French President Emmanuel Macron and was conferred with the country's highest civilian and military honour, the Grand Cross of the Legion of Honour. PM @narendramodi bids adieu to France following a successful visit that heralded a new chapter in India-France relationship. PM now emplanes for Abu Dhabi for the next leg of his visit, Ministry of External Affairs spokesperson Arindam Bagchi tweeted. Energy, food security, and defence could very well be the focus areas when Modi touches down in Abu Dhabi for the day-long visit during which the two strategic partners will review the progress after they inked a landmark trade agreement. Modi will hold talks with Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi. Modi's trip to Abu Dhabi will mark the completion of the triad after a substantive engagement with the ...

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