The leaders at the top are meeting frequently and share great chemistry. Trade and investments are booming. There is realisation on the UAE side that Indian labour helped build today’s UAE and that UAE capital can build the Viksit Bharat of tomorrow.
Trade with UAE has increased by 16% to reach $85 million in 2022-23 during which it was also the fourth largest source of FDI with $3.5 billion investment in India. IOCL and Abu Dhabi National Oil Company signed a long-term 14-year deal for buying 1.2 MMT LNG
The rupee settlement of trade between India and the UAE assumes significance, given that the two countries signed an MoU in July 2023 to set up a framework to use their respective local currencies to settle bilateral transactions.
India-UAE Business Summit held to strengthen bilateral ties bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
India-UAE Business Summit held as part of Vibrant Gujarat Global Summit 2024 devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.