Prime Minister Narendra Modi engaged in extensive discussions with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on Monday in New Delhi. The primary focus of the meeting was to enhance the strategic partnership between India and the United Arab Emirates (UAE). The Crown Prince’s visit to India commenced on Sunday, underscoring the significance of this bilateral engagement.
The meeting took place at Hyderabad House, a historic venue for high-level diplomatic encounters in New Delhi. External Affairs Ministry spokesperson Randhir Jaiswal tweeted, “A warm welcome for a close friend. PM @narendramodi received HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi at Hyderabad House.” The Crown Prince’s arrival was marked by a ceremonial welcome at the Delhi airport, reflecting the high level of importance India attaches to this visit. Commerce and Industry Minister Piyush Goyal was present to receive the Crown Prince.
The discussions between Prime Minister Modi and the Crown Prince encompassed a wide range of aspects of the India-UAE bilateral relationship, including potential areas for future collaboration.
The Crown Prince’s delegation included several ministers from the UAE government and a prominent business delegation, indicating the comprehensive nature of the visit.
The visit follows a trajectory of progressively deepening bilateral ties between India and the UAE. Since Prime Minister Modi’s landmark visit to the UAE in August 2015, the relationship has evolved into a Comprehensive Strategic Partnership. Significant milestones in this partnership include the signing of the Comprehensive Economic Partnership Agreement (CEPA) in February 2022 and the Local Currency Settlement (LCS) System in July 2023. The CEPA aims to promote trade between the two countries, while the LCS system facilitates cross-border transactions using Indian Rupees and the United Arab Emirates Dirham (AED).
The robust economic ties between the two countries are underscored by the fact that they are among each other’s top trading partners. Bilateral trade reached approximately USD 85 billion in 2022-23. The UAE is also a major investor in India, ranking among the top four sources of foreign direct investment in 2022-23. The strong economic ties are further reflected in the significant presence of a vibrant Indian community in the UAE, comprising around 3.5 million individuals, making them the largest expatriate group in the country.
The close partnership extends beyond economic cooperation. The UAE was invited as a special guest for the G20 summit during India’s Presidency. The India-UAE-France (UFI) trilateral was formally established in February 2023. With India’s support, the UAE joined the Shanghai Cooperation Organisation (SCO) as a dialogue partner in May 2023. Furthermore, the UAE became a member of the BRICS grouping on January 1st, 2023, again with India’s support.
In recent years, India and the UAE have also witnessed a resurgence of momentum in their defense cooperation. The multifaceted nature of this partnership reflects a shared commitment to regional stability and security.
The visit of the Crown Prince of Abu Dhabi is a testament to the robust and multifaceted relationship between India and the UAE. This meeting provides a valuable platform to strengthen these ties and explore new avenues for collaboration across a range of sectors, ensuring a bright future for this strategic partnership.
