We Share Aspirations for a Better Future

On this joyous occasion of India’s 78th Independence Day, I extend my heartfelt greetings to all Indians and the friends of India in the United Arab Emirates. Today, as we commemorate the august day, we stand united in pride and gratitude for the sacrifices of our forefathers, the vision of our leaders, and the resilience of our people. We not only celebrate our freedom but also reaffirm our commitment to the ideals that define our nation – democracy, diversity, and development for the people.

Since that momentous day in 1947, India has made remarkable progress in various spheres – from agriculture to manufacture to technology, from education to health to space exploration. We have overcome numerous challenges and obstacles on our path to development, emerging as one of the economic powerhouses focusing on sustainable development and as a beacon of democracy in the world. The national general elections that concluded in May this year that resulted in continued stable government demonstrated the vitality of India’s electoral democracy. The peaceful free & fair election process which relied on technology (electronic voting machines & voter-verified paper audit trail) had nearly a billion electorate with nearly 650 million participating. With over one million election booths and no electorate, even in the remotest part, having to travel more than 2 kms to vote, the scale of this success is beyond anyone’s imagination.

Other than being a vibrant electoral democracy zealously committed to rule of law, India today is the world’s fastest growing large economy, a knowledge capital of the world, champion of global climate action, voice of the global south, advocate for a reformed representative global order and reliable partner in times of global disasters such as Covid-19 pandemic, climate change related disasters etc. Our actions & achievements over the years have established these credentials beyond doubt.

On this special day, I am honoured to reflect on the strategic partnership between India and the United Arab Emirates, a bond forged through history, culture, and shared aspirations for a better future. This occasion not only marks India's journey towards freedom but also underscores the strength and depth of our bilateral relations with the UAE, guided by the special connect between the leaders of the two countries, especially over the past decade.

The Indian diaspora in the UAE, numbering over 3.5 million, plays a pivotal role in this relationship, contributing significantly to the UAE's development across various sectors. They are ambassadors of India's rich heritage and values, fostering understanding and goodwill between our nations. Their success also validates that UAE is a torchbearer of inclusivity and harmony, as was witnessed by the inauguration of one of the biggest Hindu temple in Middle East during the visit of Hon’ble PM in February this year.

On the economic front, India is UAE’s second largest trading partner and largest export destination. The UAE is India’s 3rd largest trading partner and the 2nd largest export destination establishing the importance that each holds to the other. Bilateral non-oil trade is expected to reach $100 billion in few years. Bharat Mart in Dubai, the foundation laying of which was done in February, is expected to accelerate this push. Bharat Mart will add further value to ‘Make in India’ scheme and will be an ideal gateway for Indian goods to efficiently reach the UAE and other high growth markets in the Middle East, Europe and Africa.

Digital Payments is emerging as a defining element of our economic partnership. The two countries have collaborated in developing Jaywan card payment system of UAE which is based on RuPay stack facilitating the development of e-commerce, and financial inclusion in UAE, support digitisation and help make UAE a global payment solution provider. The introduction of UPI in UAE will enable Indian tourists and Non-Resident Indians (NRIs) with Indian bank accounts to seamlessly make payments at establishments all across UAE.

While the recently signed Bilateral Investment Treaty (BIT) will facilitate more investments two ways, the Local Currency Settlement mechanism will bring the two economies closer together and the Inter-Governmental Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEEC) has the potential to change the geopolitical & economic landscape of the region.

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