India and UAE sign agreements on digital payments and energy during Ahlan Modi event

At the Ahlan Modi event in Abu Dhabi, Prime Minister Narendra Modi praised the rapidly growing relationship between India and the United Arab Emirates. He also expressed his excitement for the direction this partnership would take in his “third term”. The Prime Minister discussed the strengthening of the energy partnership and exchanged multiple memorandums of understanding with UAE President Mohammed bin Zayed Al Nahyan, including an MoU on interlinking of the instant payment platforms – UPI and UAE’s AANI.

This will facilitate seamless cross-border transactions between the two countries, covering multiple areas ranging from investment treaty, digital infrastructure projects and the interlinking of debit cards, credit cards and online payment platforms.

In addition, the leaders discussed the strengthening of the energy partnership, with both countries appreciating the UAE’s role as one of the largest sources of crude and LPG, and India’s entry into long-term contracts for LNG. The Ministry of External Affairs stated that this will further strengthen the energy cooperation between the two countries.

Prime Minister Modi addressed members of the Indian diaspora gathered in Zayed Sports Stadium in Abu Dhabi and acknowledged their contributions to the partnership. He stated that the world is looking at India as a ‘Vishwa Bandhu’ and recognized the country for its mega infrastructure projects and Digital India. Modi shared that Digital India is being appreciated across the world and that the UAE is soon to begin UPI, which will allow seamless payments between the UAE and Indian accounts.

Modi praised the partnership between the two countries and shared that India and UAE are connected by talent, innovation, and culture. He also mentioned that the UAE is India’s third-largest trade partner and seventh-largest investor. The Prime Minister expressed his gratitude for the Indian diaspora’s contributions to the UAE’s growth and development, stating that they have “scripted history” and embody the spirit of India-UAE friendship.

The ‘Ahlan Modi’ event in Abu Dhabi was a significant milestone in strengthening the partnership between India and the UAE. The Prime Minister’s speech highlighted the progress made so far and the potential for future growth and development in various areas.

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