Visit of Crown Prince of Abu Dhabi to India further bolsters ties between two countries

Relations between India and the United Arab Emirates (UAE) have witnessed a significant upward spiral in the last decade and have been going from strength to strength since the watershed moment of Indian Prime Minister Narendra Modi’s historic visit to the UAE in 2015. The defining moment in the India-UAE ties was the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2022.

Since the signing of CEPA, bilateral trade between the two countries has seen a remarkable growth of 15 %. In 2023, both countries signed the Local Currency Settlement (LCS) that allows exporters and importers to invoice and pay for goods and services in their respective domestic currencies-Indian Rupees and UAE Dirham.

The visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to India on September 9 and 10, 2024, at the invitation of Indian Prime Minister Narendra Modi elevated the ties a notch further.