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Anticipation Builds for Prime Minister Narendra Modi’s Visit to UAE, Fostering Bilateral Relations and Business Opportunities

by CEO Editorial Team

July 13, 2023 9

Indian businesses and the education community in the United Arab Emirates (UAE) are eagerly awaiting the upcoming visit of Prime Minister Narendra Modi. Scheduled after his trip to France, this visit is expected to deepen the Comprehensive Strategic Partnership between India and the UAE, particularly in sectors such as energy, education, healthcare, food security, fintech, defense, and culture.During his visit, Prime Minister Modi will hold discussions with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi. The meeting aims to identify avenues for collaboration in various areas and explore opportunities to further strengthen the strategic partnership. Additionally, global issues will be addressed, leveraging the UAE’s Presidency of COP and India’s G20 Presidency.Of significant interest is the progress of the IIT Abu Dhabi campus, set to commence its first session in September 2024. With a partnership between IIT Delhi and the Department of Education and Knowledge in Abu Dhabi, the campus holds promise for Indian students residing in the Gulf region, providing them with a prestigious institution close to home. The campus will operate under the guidance of IIT Delhi faculty and select students through the IIT-JEE test.The Indian business community in the UAE is optimistic about the visit, recognizing the potential for further collaboration and growth. They hope to leverage the success of the Comprehensive Economic Partnership Agreement (CEPA) and foster the use of the Indian payment system, RuPay, in the UAE. Although RuPay was launched during Prime Minister Modi’s previous visit in 2019, its adoption in the international market is still catching up with competitors like Visa and MasterCard. However, several UAE banks and companies have joined the RuPay network, facilitating its expansion.The UAE’s role as a hub for Indian startups is also highlighted, with the visit providing an opportunity for these startups to tap into the international market through the UAE’s supportive environment. The close ties between India and the UAE, spanning culture, entertainment, and trade, are expected to be further strengthened, benefiting both nations.The visit holds immense significance in the healthcare sector as well. The founder of Aster DM Healthcare, Azad Moopen, emphasizes the potential for enhanced collaboration and innovation in healthcare delivery. The discussions during the visit are expected to pave the way for advancements in healthcare services and cooperation between India and the UAE.The anticipation for Prime Minister Modi’s visit extends beyond the business community to the education sector, as exemplified by the preparations for the IIT Abu Dhabi campus. Educators believe that the presence of a prestigious institution like IIT in the UAE will provide Indian students with a comfortable and fulfilling academic experience, along with better job opportunities upon graduation.Furthermore, the visit underscores the strengthening bilateral relationship between India and the UAE, which encompasses not only economic aspects but also cultural and diplomatic ties. The personal rapport between Prime Minister Modi and the UAE’s rulers has contributed to the development of a multifaceted relationship that benefits both nations.In conclusion, Prime Minister Narendra Modi’s visit to the UAE is anticipated with enthusiasm and optimism, as it holds the potential to deepen bilateral relations, open new avenues for collaboration, and foster growth in various sectors. The visit symbolizes the strong bond between India and the UAE, paving the way for enhanced cooperation in areas such as education, healthcare, trade, and technology. It is an opportunity for both nations to strengthen their strategic partnership and explore mutually beneficial outcomes.