Every day, All India Radio Newsonair features a thought-provoking segment called AIR Spotlight. This segment often sees distinguished panelists discussing critical issues. Such discussions can prove to be beneficial for those preparing for the IAS exam. Today, we will delve into the topic of India's relationship with the United Arab Emirates (UAE).
Featured Panelists:
- Sheelkant Sharma, a seasoned diplomat
- Simran Sodhi, a renowned journalist
What Sparked the Discussion:
- The External Affairs Minister of India, Shri. S Jaishankar's visit to the United Arab Emirates. The minister is set to participate in the 14th India-UAE joint commission meeting and the 3rd India-UAE strategic dialogue.
- The meeting is expected to provide an opportunity to review and strengthen the strategic partnership between the two nations.
India-UAE Relations: A Closer Look
- India and the UAE have nurtured a strong bilateral relationship over the years. The UAE has emerged as one of India's most crucial strategic partners in the West Asian region.
- The two nations have invested significant diplomatic efforts to enhance their relationship, marked by high-level official visits and a cordial rapport between their leaderships.
- The recent I2U2 summit, which saw the partnership of India, Israel, UAE, and the U.S., further testifies to the strategic alignment between India and the UAE.
- The summit's vision statement highlighted the potential for green investments in India by the UAE, with technological support from Israel and the U.S. This could pave the way for beneficial investments in the renewable energy sector and land and water conservation.
- On the economic front, the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE promises to bolster the economic ties between these two emerging economic powers. The vision is to elevate bilateral trade from the current $60 billion to $100 billion.
- India and the UAE have also expressed mutual interest in furthering cooperation in diverse fields such as food security, health, skill development, education, defence, and space.
The Importance of UAE to India:
- The UAE, with its substantial sovereign wealth fund, is a significant source of investment.
- It is a major supplier of crude oil, making it integral to India's energy security.
- The UAE is home to a large Indian diaspora and contributes significantly to remittances to India.
- It serves as a vital market for Indian goods and services exports.
- The UAE is a strategic ally in a region marked by volatility.
Read previous AIR Spotlight articles in the link.
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