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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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India, UAE sign pact for AEOs for faster customs clearances, says CBIC

India and UAE on Friday signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries, the CBIC said. The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them better facilitation. UnderA, Customs authorities recognise AEOs of both countries, which in turn helps expedite customs clearances. "In pursuance of greater trade facilitation & ease of doing business, India & UAE signed the Mutual Recognition Arrangement for Authorised Economic Operators of both countries today, on sidelines of the 141st/142nd sessions of WCO Customs Co-operation Council meeting, in Brussels," the Central Board of Indirect Taxes and Customs (CBIC) tweeted. Earlier in September 2021, India and the US had signed aA AEO. The Customs authorities of both countries have already evaluated each other's AEO programme and is working to quickly implement the reciprocal arrangement for authorised economic ...

India and UAE in talks to resolve customs concerns raised by exporters

Exporters have expressed their concerns regarding 'rules of origin' requirements outlined in the free trade agreement signed by both nations

India planning to seek easier entry for dentists, nurses, CAs into the UAE

India will seek easier entry for dentists, nurses, company secretaries into the UAE as it explores mutual recognition agreements (MRAs) with the latter as part of CEPA

UAE-India CEPA deal paying off on every economic front: UAE Min Al Zeyoudi

The landmark UAE-India Comprehensive Economic Partnership Agreement (CEPA) is paying off on every economic front, with the benefits of its integration far broader than just trade, Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, said on Tuesday. India and the UAE inked CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. India has been given certain duty concessions on the import of gold from the UAE under the CEPA. The agreement was officially implemented on May 1 last year. "Indian business owners have been spurred to pursue new opportunities in the UAE since the deal was signed, with 11,000 new companies registering with the Dubai Chamber of Commerce in 2022, bringing the total to more than 83,000," Al Zeyoudi wrote in the Dubai-based Gulf News newspaper. There is little question that the CEPA will come to be regarded as a significant milestone

India-UAE aim to double non-oil trade to $100 bn by 2030: Piyush Goyal

Joint committee of officials from both sides to review terms of CEPA, which came into force on May 1, 2022

UAE emerges 4th-largest investor in India, FDI jumps over 3x in FY23

The United Arab Emirates (UAE), with which India implemented a comprehensive free trade agreement in May last year, has emerged as the fourth largest investor in India during 2022-23, according to government data. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021-22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. The UAE was the fourth largest investor in India in 2022-23 compared to the seventh in 2021-22. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). "The rapidly strengthening of bilateral ties and investment cooperation between India and United Arab Emirates (UAE) can be chiefly attributed to the strong bilateral relations between India and UAE, growth in investment commitments from UAE, and the policy reforms to further ease of doing ..

India, UAE to review CEPA progress next week, to chalk out data sharing

A delegation from the UAE will be in the national capital next to meet key officials from the department of commerce, a person aware of the matter said

India-UAE trade partnership transforming bilateral partnership: DPIIT Secy

The free trade agreement between India and the UAE has transformed the partnership between the two countries by promoting two-way commerce at a healthy rate, an official statement said on Tuesday. The agreement came into force on May 1 last year. Addressing a business gathering in Dubai, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that initial gains of the pact have already started accruing with bilateral trade growing at around 20 per cent and touching an "all-time" high of around USD 84 billion during 2022-23. Singh, along with Juma Mohammed Al-Kait, Assistant Undersecretary for International Trade, Ministry of Economy, United Arab Emirates and Sunjay Sudhir, Ambassador of India to the UAE, inaugurated the International Jewellery Exposition Centre in Dubai. Around 100 companies from India and UAE, including representatives from Export Promotion Councils from India, have participated in the expo. The secretary also held

India's exports to UAE likely to grow by 60% to $50 billion by FY27

Officials expect exports to touch $50 billion during the same period

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8,437 Indian prisoners are lodged in foreign prisons; UAE with max 1,966

There are a total 8,437 Indian prisoners in foreign prisons, including under trials. The United Arab Emirates (UAE) has the maximum with 1,966 Indian prisoners

India-UAE partnership: CEPA review to focus on key data sharing

"Such trade facilitation can also help in enhancing our exports; logistics cost will also come down," the official said