{"id":39606,"date":"2024-02-14T11:34:50","date_gmt":"2024-02-14T06:04:50","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=39606"},"modified":"2025-04-24T17:35:10","modified_gmt":"2025-04-24T12:05:10","slug":"pm-modis-visit-to-uae","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pm-modis-visit-to-uae\/","title":{"rendered":"PM Modi&#8217;s visit to the United Arab Emirates"},"content":{"rendered":"<h2>What\u2019s in today\u2019s article?<\/h2>\n<ul>\n<li>Why in news?<\/li>\n<li>India \u2013 UAE Bilateral Relationship<\/li>\n<li>Political relations between India and UAE<\/li>\n<li>Trade Relation between India and UAE<\/li>\n<li>Comprehensive Economic Partnership Agreement (CEPA) between India and UAE<\/li>\n<li>Investment between India and UAE<\/li>\n<li>NRI Remittances from UAE to India<\/li>\n<li>Energy Cooperation between India and UAE<\/li>\n<li>News Summary: PM Mod&#8217;s visit to the United Arab Emirates<\/li>\n<li>Key pacts signed<\/li>\n<li>Other highlights of the visit<\/li>\n<\/ul>\n<h2>Why in news?<\/h2>\n<ul>\n<li>PM Modi is on an official visit to the United Arab Emirates. This is his seventh visit to the UAE since 2015 and the third in the last eight months.<\/li>\n<\/ul>\n<h2>India \u2013 UAE Bilateral Relationship<\/h2>\n<h2>Political relations<\/h2>\n<ul>\n<li>India and the UAE established diplomatic relations in 1972. Since then, their relationship has grown manifold.<\/li>\n<li>In January 2017, India and UAE signed a Comprehensive Strategic Partnership Agreement.<\/li>\n<li>The strong bilateral relations have received impetus from time-to-time with exchange of high-level visits from both sides.\n<ul>\n<li>In February 2019, UAE invited India as the &#8220;Guest of Honour\u201d to address the Inaugural Plenary of 46th Session of the Organisation of Islamic Cooperation.<\/li>\n<li>PM Modi paid his third visit to the UAE in August 2019. He was awarded the highest civilian award of UAE called\u00a0&#8216;Order of Zayed&#8217;.<\/li>\n<li>Crown Prince of UAE visited India for the second time in January 2017 as the Chief Guest at India\u2019s Republic Day celebrations.<\/li>\n<\/ul>\n<\/li>\n<li>The foundation stone laying ceremony for the first traditional Hindu Temple in Abu Dhabi was held in April 2019.<\/li>\n<li>In February 2022, PM Modi and Crown Prince of Abu Dhabi HH Sheikh Mohammed bin Zayed Al Nahyan held a Virtual Summit.\n<ul>\n<li>Both the leaders issued a Joint Vision Statement \u2013 \u201cAdvancing the India and UAE Comprehensive Strategic Partnership: New Frontiers, New Milestone\u201d.<\/li>\n<\/ul>\n<\/li>\n<li>UAE was the guest country at G-20, being held under India\u2019s presidency.<\/li>\n<\/ul>\n<h2>Trade Relation<\/h2>\n<ul>\n<li>India-UAE trade rose to USD 85 billion in 2022-23, making the UAE India\u2019s third-largest trading partner for 2022-23 and India\u2019s second-largest export destination.\n<ul>\n<li>India is the UAE\u2019s second largest trading partner.<\/li>\n<\/ul>\n<\/li>\n<li>Both the countries are expecting to achieve the target of USD 100 billion in trade before the G-20 meeting in Delhi in September 2023.<\/li>\n<\/ul>\n<h2>Comprehensive Economic Partnership Agreement (CEPA) between India and UAE<\/h2>\n<ul>\n<li>India-UAE CEPA was signed on 18 February 2022 in New Delhi during the India-UAE Virtual Summit.\n<ul>\n<li>In March 2022, India announced the unveiling of the CEPA with the UAE.<\/li>\n<\/ul>\n<\/li>\n<li>It covers almost all the tariff lines dealt in by India (11,908 tariff lines) and the UAE (7581 tariff lines)<\/li>\n<\/ul>\n<h2>Investment<\/h2>\n<ul>\n<li>Since the signing of CEPA, UAE has emerged as the fourth largest investor in India during 2022-23. It was seventh largest investor in 2021-22.<\/li>\n<li>In the last fiscal, FDI from the UAE to India jumped over three-fold to $3.35 billion from $1.03 billion in 2021-22.<\/li>\n<\/ul>\n<h2>NRI Remittances from UAE to India<\/h2>\n<ul>\n<li>The annual remittances made by the large Indian community in UAE (estimated to be around 3.3 million) amount to US$ 17.56 billion for year 2018.<\/li>\n<\/ul>\n<h2>Energy Cooperation<\/h2>\n<ul>\n<li>In 2017, the Abu Dhabi National Oil Company (ADNOC) and the Indian Strategic Petroleum Reserves Ltd. (ISPRL) signed an MoU\u00a0to establish a strategic crude oil reserve in the city of Mangalore (Karnataka).<\/li>\n<li>ADNOC is also involved in exploring the possibility of storing its crude oil at ISPRL\u2019s underground oil storage facility at Padur in Karnataka.<\/li>\n<li>A consortium led by ONGC including Indian Oil and Bharat Petro Resources, has been awarded a 10 per cent stake in the Lower Zakum Concession.<\/li>\n<\/ul>\n<h2>News Summary: PM Mod&#8217;s visit to the United Arab Emirates<\/h2>\n<ul>\n<li>During his visit to UAE, PM Narendra Modi met UAE\u2019s President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.<\/li>\n<li>During this meeting, India and the UAE signed eight pacts to bolster cooperation in key areas.<\/li>\n<\/ul>\n<h2>Key pacts signed<\/h2>\n<ul>\n<li>Bilateral Investment Treaty Signed\n<ul>\n<li>Bilateral Investment Treaty was signed by the two sides. This agreement will be a key enabler for further promoting investments in both countries.<\/li>\n<\/ul>\n<\/li>\n<li>Energy cooperation\n<ul>\n<li>A memorandum of understanding (MoU) has also been signed on cooperation in the field of electrical interconnection and trade.<\/li>\n<li>This opens new areas of collaboration in the field of energy, including energy security and energy trade.<\/li>\n<\/ul>\n<\/li>\n<li>Fostering regional connectivity\n<ul>\n<li>For the IMEC, first announced during the G20 Summit 2023, India and the UAE have formed an &#8220;Intergovernmental Framework Agreement.<\/li>\n<li>This would build on previous understandings and cooperation on this matter and foster India and the UAE cooperation furthering regional connectivity.<\/li>\n<\/ul>\n<\/li>\n<li>MoU on cooperation in Digital Infrastructure Projects\n<ul>\n<li>This will create a framework for a wide-ranging cooperation, including investment cooperation, in the digital infrastructure sector.<\/li>\n<li>It will also facilitate sharing of technical knowledge, skills and expertise.<\/li>\n<\/ul>\n<\/li>\n<li>Agreement on interlinking of the instant payment platforms &#8211; UPI (India) and AANI (UAE):\n<ul>\n<li>This will facilitate seamless cross-border transactions between the two countries.<\/li>\n<li>This follows the MoU on interlinking payment and messaging systems signed in July 2023 during Hon\u2019ble PM\u2019s visit to Abu Dhabi.<\/li>\n<\/ul>\n<\/li>\n<li>Agreement on inter-linking domestic debit\/credit cards &#8211; RuPay (India) with JAYWAN (UAE):\n<ul>\n<li>This will enhance the universal acceptance of RuPay across the UAE.<\/li>\n<\/ul>\n<\/li>\n<li>Cooperation protocol between the National Archives of the two countries\n<ul>\n<li>This protocol will shape extensive bilateral cooperation in this field including restoration and preservation of archival material.<\/li>\n<\/ul>\n<\/li>\n<li>MoU for cooperation in the field of heritage and museums\n<ul>\n<li>This would foster engagement between the two countries aimed at supporting of the Maritime Heritage Complex at Lothal, Gujarat.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Other highlights of the visit<\/h2>\n<ul>\n<li>Interaction at the Indian Community Event &#8211; &#8220;AHLAN MODI&#8221; in UAE\n<ul>\n<li>PM Modi addressed the Indian community in the UAE at &#8216;AHLAN MODI&#8217;, an event organized in his honour by the Indian community in the UAE.<\/li>\n<\/ul>\n<\/li>\n<li>Temple inauguration\n<ul>\n<li>On February 14, PM Modi will inaugurate the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir.\n<ul>\n<li>This is the first Hindu stone temple in Abu Dhabi.<\/li>\n<li>BAPS a denomination of the Swaminarayan Sampradaya, a Vaishnav sect of Hinduism.<\/li>\n<\/ul>\n<\/li>\n<li>Features of the temple\n<ul>\n<li>The Abu Dhabi temple is a traditional stone Hindu temple with 7 shikhars.\n<ul>\n<li>7 shikhars (spires) are representative of 7 Emirates of the UAE.<\/li>\n<\/ul>\n<\/li>\n<li>Built in the traditional Nagar style, the temple\u2019s front panel depicts universal values, stories of harmony from different cultures, Hindu spiritual leaders and avatars.<\/li>\n<li>The height of the temple is 108 ft, length 262 ft and width 180 ft. While the external facade uses pink sandstone from Rajasthan, the interior uses Italian marbles.<\/li>\n<li>Apart from 15 value tales from Indian civilisation, stories from the Maya civilisation, Aztec civilisation, Egyptian civilisation, Arabic civilisation, European civilisation, Chinese civilisation and African civilisation have been depicted.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1)\u00a0What is Abu Dhabi National Oil Company (ADNOC)?<\/h3>\n<p>The Abu Dhabi National Oil Company (ADNOC) is a state-owned oil company in the United Arab Emirates. ADNOC was established in 1971 and is the world&#8217;s 12th largest oil producer, producing 12% of the world&#8217;s oil and gas.\u00a0<\/p>\n<h3>Q2) What is Order of Zayed?<\/h3>\n<p>The Order of Zayed is the United Arab Emirates&#8217; highest civil decoration named after the first president of the UAE, Zayed bin Sultan Al Nahyan.<\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>In January 2017, India and UAE signed a Comprehensive Strategic Partnership Agreement.<\/p>\n","protected":false},"author":5,"featured_media":39607,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-39606","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/39606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=39606"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/39606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/39607"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=39606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=39606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=39606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}