The special partnership between India and the UAE is something constantly nurtured and strengthened. About 3.5 million Indian diasporas are present in the UAE and they contribute to the development of the economy of both nations.
India celebrates its 75th independence year and the UAE celebrates its 50th year of establishment in 2021. Both are looking forward to a bright future.
“We share a fast-growing and multi-faceted, comprehensive, strategic partnership which has scaled great heights even during the pandemic.”, said Piyush Goyal at the inauguration ceremony of Dubai Expo 2020.
India’s theme at the Dubai Expo 2020 is “India on the move.” It describes the rise of a new India which is rejuvenating, reimagined, and reinvented.
India built a large pavilion in the Expo reflecting India’s growing presence in this world. For India, Dubai Expo is an important platform to expose its rich culture and can gain a lot of growth opportunities in the coming months.
The Expo brings 191 countries together where they showcase their skills on the pavilions of their own.
The visitors of the Dubai Expo get an opportunity to discover various pavilions, and immerse themselves in various cultural activities and best practices and connect with people and nations from all around the world.
For 182 days, these singular experiences will be shared experiences between the organizer, participant country, and people online and offline.
In September, India and the UAE have also set off negotiations on CEPA (Comprehensive Economic Partnership Agreement). The CEPA has big potential to boost trade and investments in both countries. The investors are excited and are looking forward to doing business in New Delhi.
The UAE can be India’s entrance to Africa and several other countries. The markets like footwear, textiles, etc. which are labor-oriented look forward to India for human power.
India and the UAE have expressed a will to enter into an economic deal that is mutually beneficial. They intend to settle negotiations by December 2021 and to sign a formal agreement in March 2022. But before that, they need to complete internal legal procedures and ratification.
Both the countries look for a win-win opportunity.