The bilateral discussions at the 18th BRICS Summit in New Delhi signal a strategic convergence between the emirates' ‘We the UAE 2031’ growth vision and India’s ‘Viksit Bharat @2047’ roadmap, thus creating new momentum for deeper economic and development cooperation, said Dr Sahitya Chaturvedi, the Secretary-General of IBPC Dubai.
The bilateral meeting between HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Prime Minister Narendra Modi, discussed the longstanding friendship and cooperation between the two countries and ways to further strengthen bilateral ties, supporting greater economic integration and opening new avenues for partnership across vital sectors.
It took place during a reception hosted by the Indian Prime Minister for Sheikh Khaled at Hyderabad House in New Delhi where they discussed key topics covering defence, AI, space, critical minerals and CEPA, in particular, thus offering a blueprint for co-creating a prosperity corridor within BRICS, reported Wam.
The meeting reviewed avenues for co-operation and coordination within the framework of the historic friendship and Comprehensive Economic Partnership Agreement (CEPA) between the two countries, as well as the continued growth of bilateral ties across various fields. The two sides also exchanged views on several topics of mutual interest.
Sheikh Khaled and Modi affirmed their shared commitment to continuing to strengthen co-operation, supporting the development partnership and broadening its horizons in ways that fulfil the aspirations and vision of both countries’ leaderships and bring greater prosperity and wellbeing to their peoples, stated the report.
Chaturvedi said the INR–AED local currency settlement mechanism and the UPI–Aani linkage were among the summit’s most transformative initiatives.
Together, they could create a seamless digital and financial corridor for more than 4 million Indians in the UAE and support the interests of more than 85,000 Indian businesses in Dubai.
"This is financial pragmatism, not de-dollarisation. By addressing exchange-rate volatility, trade barriers and financial inclusion, these mechanisms are building an architecture of opportunity. For Indian businesses in Dubai, the task now is to use it," he added.
