UAE — A Key Partner in India’s progress

As we commemorate the 78th Independence Day of India, we celebrate the spirit of freedom and democracy and the remarkable strides our nation has made. This milestone invites us to reflect on our journey of growth, innovation, and global impact, underscoring India's emerging role as a key player on the world stage.

India has made significant progress, solidifying its position as a global economic powerhouse and a beacon of technological innovation. The country's economy has exhibited resilience, with GDP expanding by 8.2 per cent in the past fiscal year, making it one of the fastest-growing major economies. By financil year 2025, India is expected to surpass Japan as the fourth largest economy. The thriving technology sector has witnessed advancements in artificial intelligence, renewable energy, and healthcare. Chandrayaan 3, India's third lunar exploration mission and the world’s first lander rover to reach the Moon’s south pole, has further demonstrated the country's prowess in space. Additionally, the startup ecosystem has flourished, with over 100,000 registered startups showcasing the nation’s entrepreneurial spirit.

India's democratic institutions have continued to strengthen, highlighted by the 2024 general elections, which saw over 900 million eligible voters participate, marking the largest democratic exercise in the world.

The UAE has been a key partner in India’s progress, with bilateral relations strengthening significantly. Since July 2023, Prime Minister Narendra Modi has visited the UAE thrice, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has visited India twice. This special relationship has resulted in several outcomes from high-level engagements.

In February 2024, PM Modi and Sheikh Mohamed made the first transaction using the UAE's indigenously developed domestic debit card, "Jaywan,” based on India’s Rupay debit/credit card stack. The Rupee-Dirham Local Currency Trade Settlement System has also launched, resulting in transactions valued at millions of US dollars. The establishment of Bharat Mart in Dubai exemplifies the partnership, leveraging India’s production and export capacities and the UAE's logistics expertise.

Building domestic capabilities and self-dependence by harnessing each other’s strengths is a key pillar of the India-UAE comprehensive strategic partnership. India and the UAE have embarked on a journey to build a future-ready population. The Indian Institute of Technology, Delhi, Abu Dhabi, commenced its Masters program in early 2024, with the Bachelors program starting in September 2024. This initiative aims to attract top professionals and researchers contributing to the growth of both nations. Similarly, discussions are underway for the Indian Institute of Management, Ahmedabad (IIM-A) to establish a campus in Dubai, reflecting the shared ambition for educational excellence.

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