Key Agreement Between India And UAE: Target Of 200 Billion Dollars By 2032

Delhi/Hyderabad, Jan 20 (Maxim News) Prime Minister Modi met UAE President Sheikh Mohammed bin Zayed Al Nahyan in Delhi on Monday. Modi was given a grand welcome at Delhi’s Palam Airport, setting aside protocol. Later, the two leaders held discussions on key issues. India and UAE have decided to further strengthen bilateral ties. They have resolved to increase the annual trade between the two countries to $200 billion (Rs. 18 lakh crore) by 2032.

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Also, key steps were taken towards a strategic defense relationship between the two countries. An agreement was signed on the development of space infrastructure. Letters of intent were signed on the modalities in this regard. On a long-term basis, an agreement was reached for the UAE to supply 5 lakh tonnes of LNG to India every year. The UAE has come forward to invest in the Special Investment Region set up in Dholera, Gujarat. On the other hand, the leaders of the two countries condemned cross-border terrorism. They said that those who encourage and finance it should be severely punished.

Agreements were reached on food security and mutual cooperation in the agricultural sector. The two countries agreed to cooperate in the field of artificial intelligence (AI). On the other hand, it is reported that Modi and Nahyan mainly discussed the increasing tension in West Asia. However, Prime Minister Modi posted on X that their discussions were fruitful. He described Nahyan as his close friend.

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Modi said their talks were very fruitful. He called Nahyan his close friend. “I went to the airport and welcomed my brother. This visit reflects the importance he attaches to the strong friendship between India and the UAE,” the Prime Minister said in an ex-post statement. Several key agreements have already been signed between the two countries. These include a Comprehensive Economic Partnership Agreement, a local currency payment system, and a bilateral investment treaty.

Saudi Arabia expressed its anger after UAE-backed local armed forces seized the Mukalla port in Yemen. The port was attacked with missiles. This forced the UAE to withdraw its forces from Yemen. Experts believe that Nahyan’s visit to India is in this context. The UAE is a close country to India in the West Asian region. Even during the Corona period, India supplied the country with emergency vaccines and other supplies. Since then, the relationship between the two countries has further strengthened.  (Maxim News)

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