AIR Spotlight: India- UAE Relations

AIR Spotlight is an insightful program featured daily on the All India Radio Newsonair. In this program, many eminent panellists discuss issues of importance which can be quite helpful in IAS exam preparation. This article features a discussion on India’s relations with UAE.

Participants:

• Sheelkant Sharma- Former Diplomat
• Simran Sodhi- Journalist

Context:

• Visit of External Affairs Minister Shri. S Jaishankar to United Arab Emirates. The minister will be taking part in the 14th India-UAE joint commission meeting and the 3rd India-UAE strategic dialogue.
• The meeting will allow for a review of the strategic partnership between the two countries.

India- UAE relations:

• The bilateral relationship between the two countries has only strengthened over the years, with UAE becoming one of India’s most significant strategic partner in the West Asian region. 
• Both countries have put in considerable diplomatic efforts to strengthen the bilateral relationship through high level official visits. There continues to remain a warm relationship between the leadership of the two countries.
• The recently held I2U2 summit, involving partnership between India, Israel, UAE and the U.S. only underscores the strategic alignment between the two countries. 
• The vision statement of the summit emphasizing green investment into India by the UAE with technology support from Israel and U.S. would be a win-win situation for all. It would involve investment in renewable energy sector along with investment in land and water conservation.
• On the economic front, India and UAE have the Comprehensive Economic Partnership Agreement (CEPA) which will strengthen the economic ties between the two emerging economic powers. There is the vision to raise bilateral trade between the two countries to 100$ billion dollars from the current 60$ Billion.
• India and UAE have expressed their mutual willingness their co-operation in the diverse fields of food security, health, skill development, education, defence and space.

Significance of UAE to India:

• Source of investment given that the sovereign wealth fund of UAE has a large pool of funds ready for investment.
• Major source for crude oil which makes it a critical component of India’s energy security.
• Holds a sizeable Indian diaspora population and is a major source for remittances into India.
• Important market for Indian goods and services exports.
• Strategic partner in a rather volatile region.

Read previous AIR Spotlight articles in the link.

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