The 11th edition of the World Government Summit (WGS) took place in Dubai. The summit, themed “Shaping Future Governments,” aimed to anticipate future opportunities and challenges while addressing pressing global issues. PM Modi was invited to inaugurate the event.
India and the UAE concluded the Comprehensive Economic Partnership Agreement (CEPA) in 2022 and a Bilateral Investment Treaty (BIT). This makes the UAE the only country that India has both a trade and an investment agreement with. BAPS Hindu Temple in UAE is magnificient.
The UAE is now India’s third largest trading partner, India’s second largest export destination, and fourth largest source of FDI. The inauguration of the Bharat Mart for Indian MSMEs is also expected to strengthen trade ties.
Third, the Agreement for an Intergovernmental Framework on the India-Middle East Economic Corridor, that also coordinate over the I2U2 initiative with the U.S. and Israel, and, from 2024, will cooperate within the BRICS framework, as the UAE is now a member.
Finally, the discussions on the Israel-Gaza operations and the Red Sea attacks, indicate that in a region roiled by conflict, India considers the UAE to be a stable interlocutor.
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India - UAE Ties