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PM Modi, Abu Dhabi Crown Prince discuss ways to improve India-UAE trade, cultural ties

Welcoming Modi, the crown prince, Sheikh Mohammed bin Zayed Al Nahyan, expressed gratitude to his “brother” for visiting “his second home”. “Had an excellent meeting with His Highness Crown Prince @MohamedBinZayed. We spoke about multiple subjects, including ways to improve trade and people-to-people relations between India and UAE,” Modi tweeted after the meeting.

The prime minister also said the crown prince’s “personal commitment” to strenghten the bilateral relations is “very strong”.

External Affairs Ministry spokesperson Raveesh Kumar said there was a “new energy” in the relationship between the two leaders. He quoted the crown prince as saying, “I am so grateful that my brother is coming to his second home.”

With robust flow of bilateral investments and an annual bilateral trade of about USD 60 billion, the UAE is India’s third-largest trade partner. It is also the fourth-largest exporter of crude oil for India.

In an interview to the UAE’s official news agency, WAM, Modi said India has found a “valuable partner” in the UAE to achieve its ambitious dream of becoming a USD 5 trillion economy by 2024-25. He said the UAE-India relations are “at their best ever”, adding that the UAE investments in key sectors in India are growing. “There has been an increasing interest in investments in India in sectors ranging from renewable energy, food, ports, airports, defence manufacturing and other sectors. UAE investments in infrastructure and housing (sectors) are being enhanced,” PM Modi said.

Both the countries are working closely and vigorously to implement the commitment of USD 75 billion investment by the UAE in India, he said.

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