Increasing levels of trade and investment between India, UAE: Jaishankar

The ties between India and the UAE have reached new heights, with increasing levels of trade and investment, External Affairs Minister S Jaishankar said on Thursday (November 14), highlighting collaborations in sectors like fintech, infrastructure, and defence.

Speaking at the inauguration of the Symbiosis International (Deemed University) campus in Dubai, Jaishankar emphasised how Prime Minister Narendra Modi's first visit to the UAE in 2015, which was the first visit by an Indian prime minister in 34 years to the emirate state, marked the new beginning of bilateral ties between the two countries.

‘Era of new milestones’

"India-UAE ties are today truly in an era of new milestones and many firsts. Indeed, Prime Minister Modi’s historic visit in 2015 is certainly a first in this century. So too is our Comprehensive Economic Partnership Agreement, which was negotiated in record time. The trade and investment levels between our countries are at new levels and increasing with each passing year," Jaishankar said.

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He said the fintech linkages like RuPay-Jaywan or UPI-AANE are also the firsts in their domain. The collaborations that the two sides are constantly expanding - be it in renewable energy, infrastructure, digital technology, defence, or security - are all pathbreaking in their way, he added.

He said the Symbiosis campus in Dubai is part of a larger trend that has seen India and the UAE come close in an unprecedented way.

"Today’s youth has extraordinary opportunities and along with it, formidable challenges. You have access to technology and an exposure to the world that we could not have conceived of, even a decade ago," he said.

‘India needs to prepare for global workplace’

"India today needs to prepare for the global workplace. Equally, it has to be ready for the era of AI, chips, electric mobility, clean and green technologies, renewable energy, space, and drones.

"It also has to manage the growth of these possibilities by making them employment-centric and market-viable. And while doing so, it has to continuously communicate - amongst ourselves and to the world - the benefits of our contemporary direction to society. Your education can ready you for all these tasks; in fact, they are different dimensions of an integral whole," the minister said.

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He said the exposure to quality education would give a special ability to deal with the world and advance national prospects, exuding confidence that Symbiosis would replicate its outstanding quality of teaching to prepare students for 21st-century skills.

"Today’s ceremony is not just an inauguration of a new campus; it is a celebration of the growing educational cooperation between our two countries," he added.

"Pleased to join Minister @uaetolerance Sheikh Nahyan Bin Mubarak in inaugurating the Dubai Campus of Symbiosis International University. Spoke about how a rising India is internationalising its education system and preparing for a global workplace. Confident that today’s inauguration will foster greater collaboration & linkages between India and UAE," he later posted on X.

Interacted virtually with students

Jaishankar said he was delighted to virtually interact with students of Symbiosis International University in Dubai. "Glad to note their interest in foreign policy and India’s prominence in the global order. Underlined greater opportunities for Indian students in a changing world," he said in another post.

He also launched his book titled Why Bharat Matters at the iconic Mohammed Bin Rashid Library in Dubai, where he participated in an interactive session and spoke about grasping the global transformation underway and understanding the rise of Bharat.

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Speaking at the event, he highlighted the changing global landscape, characterised by technological advancements, the impact of artificial intelligence, shifts brought by green technologies, and changes in lifestyle due to electric mobility.

Innovative logistics initiative

He also visited the Bharat Mart site in Jebel Ali, Dubai along with Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.

"Once operationalised, this innovative logistics initiative will enhance India-UAE trade, deepen supply chains, and bolster access for our MSMEs to global markets," he said.

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Later, Jaishankar visited the BAPS Hindu Mandir in Abu Dhabi.

"Received blessings at the BAPS Hindu Mandir in Abu Dhabi today. A true symbol of India-UAE friendship and of peace, harmony, and goodwill around the world," he wrote on X.

Jaishankar had earlier visited the UAE in June.

India and the United Arab Emirates (UAE) established diplomatic relations in 1972.

(With agency inputs)