The relationship between India and the UAE is strongly established in millennia of cultural, religious, and economic interaction. The two countries' relationship and trust have evolved and flourished tremendously in recent years. In this setting of common values and strong cooperation, the Ananta Centre supported by TATAs held a digital session on “India-UAE Relations: Breaking New Grounds” addressed by H.E. Dr Ahmed A R Albanna, UAE Ambassador to India. This session was chaired by Mr. K. P. Nayar, Columnist and Strategic Analyst.
The historic relationship between India and the United Arab Emirates (UAE) was centered on energy, trade, and diaspora; and now, it has expanded to Defense, Security, Cybersecurity, Healthcare, and advanced technologies such as AI and Blockchain. As the UAE intends to become the global hub for technology in the future, both countries should adopt a joint vision in the digital technological field.
India-UAE bilateral relations are built on two pillars: innovation and diversity. The strategic partnership between India and the United Arab Emirates is critical for the smooth transition of economic growth. The Pandemic has enabled and provided chances for India and the UAE to develop new navigation tools that will strengthen strategic and commercial ties. Energy trade has been at the heart of India-UAE relations, driving the UAE's economy into rapid evolution. Bilateral commerce between the two countries is presently worth approximately $52 billion.
The Indian diaspora is another key element in strengthening and expanding people-to-people communication. Energy security and cooperation are high on India’s priority list, making the UAE a trusted partner for energy security and oil supply to India’s strategic oil reserve facility. Because of the close cooperation, India has acquired its first oil share in the Gulf, at the Lower Zakum oilfield. Both countries must work on the Air Services Agreement to help and benefit both the Indian and UAE civil aviation industries in order to improve people-to-people communication.
Furthermore, CEPA will be a game changer in India and the UAE’s regional relations. It will aid India’s objective of becoming a five-trillion-dollar economy. It will have a favorable impact on issues such as unemployment, trade, and the flow of investment, as well as the construction of a one-zone manufacturing corridor. The signing of the Abraham Accords between Israel and the UAE has eliminated a critical strategic barrier for New Delhi, paving the way for trilateral cooperation between India, Israel, and the UAE and the Western Quad will provide India with new opportunities. Both countries’ visions are guided by the concepts of openness, opportunity, and optimism. Therefore, it’s important that both the countries should now, more than ever strengthen their extraordinary partnership.
This digital session was a part of a series on “Ambassador Series.”
Please watch the full session on https://anantacentre.in/videos/10-02-22-india-uae-relations-breaking-new-ground