IIT Delhi In Gulf, Trade In Local Currencies Focus Of PM’s UAE Visit

1. India and UAE today agreed to promote the use of local currencies for cross-border transactions and to interlink the Unified Payments Interface (UPI) with the Gulf country’s Instant Payment Platform (IPP).

2. Sharing this update, PM Modi said, “This is a very important aspect of India-UAE cooperation. It paves the way for enhanced economic collaboration and will make international financial interactions simpler.”

3. Besides, the education ministries of the two countries and IIT-Delhi decided to establish a branch of the premier institute in Abu Dhabi.

4. “This marks a significant stride in our educational internationalisation and is testament to India’s innovation prowess. Education is the bond that unites us, it’s the spark that ignites innovation. Together, we will leverage this power for mutual prosperity and global betterment,” tweeted the Prime Minister.

5. PM Modi flew to Abu Dhabi this morning from France and held talks with UAE Crown Prince Sheikh Mohamed bin Zayed Al Nahyan, who received him at the airport on his arrival.

6. “It is always gladdening to meet HH Sheikh Mohamed bin Zayed Al Nahyan. His energy and vision for development are admirable. We discussed the full range of India-UAE ties including ways to boost cultural and economic ties,” he tweeted.

7. The Prime Minister also said there was a 20% increase in India-UAE trade since the two countries signed the Comprehensive Economic Partnership Agreement last year. His remarks came following his meeting with the UAE President.

8. He also said that he got the love of a brother from Mr Al Nahyan and that Indians see him as a “true friend”. “The manner in which ties between our countries have expanded, you have made a big contribution to that. Every person in India views you as a true friend,” he told the President.

9. He noted the UAE will this year take over the leadership of COP-28, the United Nations Climate Change Conference, and that he has decided to participate in it. He also met COP28 President-designate Sultan Al Jaber and assured India’s full support for UAE’s presidency for the climate conference.

10. “Had a very productive meeting with Dr. Sultan Al Jaber, the President-designate of @COP28_UAE. Our discussions focused on ways to further sustainable development. Highlighted India’s contribution in this direction, in particular our emphasis on Mission LiFE,” tweeted PM Modi.

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