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A privileged strategic partnership, without a gulf
Context:
Prime Minister Narendra Modi is set to visit the UAE, highlighting the strengthening bilateral relationship between India and the UAE. This visit marks a significant milestone in the evolving partnership between the two countries.
India-UAE Bilateral Relations
- Strategic Partnership: The relationship between India and the UAE has evolved into a strategic partnership, characterized by frequent high-level visits and close rapport between leaders.
- Economic Partnership: Bilateral trade and investment have flourished, with the UAE emerging as India's third-largest trading partner and a significant investor.
- Technological Collaboration: Both countries have collaborated in areas like fintech, with initiatives such as the acceptance of RuPay cards in the UAE and a rupee-dirham settlement system.
- Key Pillars of Cooperation
- Energy Security: The UAE is a crucial partner in India's energy security, with strategic oil reserves stored in India and investments in strategic crude oil storage facilities.
- Defence and Security: Cooperation in defence and security is a critical aspect of the relationship, contributing to regional stability and mutual interests.
- Cultural and People-to-People Ties: Both countries have fostered cultural exchanges and people-to-people ties, reflected in reciprocal invitations, honours, and cultural collaborations.
Strategic Significance and Future Prospects
- Strategic Coordination: India and the UAE are closely aligned on regional and global issues, participating in important groupings and infrastructure projects like the India-Middle East-Europe Economic Corridor.
- Growing Partnership: Despite minor differences, the India-UAE partnership is poised for further growth and cooperation, driven by shared values, mutual respect, and converging interests.
- Potential for Future Collaboration: The visit underscores the potential for deeper collaboration in various sectors, reinforcing the belief that the strategic partnership between India and the UAE will continue to strengthen in the coming years.
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