India celebrates its 73rd Republic Day on January 26, 2022. The nation is also commemorating 75 years of Independence, with yearlong celebrations aptly themed 'Azadi Ka Amrit Mahotasav'.
Significantly, this is also the time when India– UAE relations have reached a new high. The two countries are close to concluding a Free Trade Agreement (FTA), which has been in the making for some time. The FTA will be the icing on cake for bilateral economic relations nurtured over decades between the two countries. In fact, since 1971, the two sides have worked passionately to build ties spanning almost every field — from diplomacy to culture to economy. A large number of agreements including those in the spectrum of economy, defence, security, culture and many more have provided the firm framework for bilateral relations, informed Kamal Vachani, Regional Director, Electronics and Computer Software Export Promotion Council (ESC) for the Middle East.
However, what has been more important is the people-to-people contact that has emerged as the cornerstone of bilateral relations. Indian community in the UAE has played a crucial role in the emergence of Emirate as a global powerhouse with strong presence of trained working population that is geared to match the best in the world. No wonder, today the UAE is among the most preferred destinations for global corporations.
Economic and trade relations between the two countries have always been on a firm footing. The UAE is among the largest destination of Indian exports and is also one of the leading sources of investment in India.
Electronics and software constitute key Indian exports to the UAE. During 2020-21, the UAE was the second top destination for India’s electronic exports, clocking total shipments worth $1275 million. The trend is likely to continue, with the possibility of even accelerating in the years to come, added Vachani.
ESC, India’s apex body for nurturing linkages between Indian and global electronics and software industries, is committed to deepening this relationship. A big contingent from the UAE is likely to join ESC’s annual shows — INDIASOFT, India IoT World and India Electronics Expo to be held at New Delhi during March 2022.
More strength to this growing relationship between the two economies!
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