New Delhi: Prime Minister Narendra Modi’s visit is “hugely” important as the Emirates is India’s third largest trading partner, a top Indian government official told sources on Saturday.
“The two-way trade had peaked at $75 billion (Dh275.46 billion) but, recently, it has declined due to gold imports duty, but still, $59 billion is nothing to scoff at and that is an important facet of the relationship,” said Vikas Swarup, spokesman of India’s Ministry of External Affairs.
Underlining the significance of Modi’s visit, he said: “The fact this is the Prime Minister’s first visit to the Arab Gulf region is in itself important.”
The official said India will seek UAE’s investment in the infrastructure sector. “So far, the UAE’s orientation has been towards the US and EU. Now that the prime minister has said India needs a trillion-dollar investment in infrastructure and the UAE can be an important partner in this area.
“This investment will yield very good returns and is totally secure,” he said, adding, “From that point of view, investment will be a key feature of this visit.”
Another area that Modi’s visit will focus on is energy security for India. “UAE provides 8.5 per cent of our crude oil requirement and we are keen to stitch up long-term supplies, both upstream and downstream … UAE is very important in terms of energy security.”
“With oil prices at a historical low, it is a valuable opportunity for India to secure long-term supplies,” he added.
“The prime minister’s one on one interaction with the UAE leadership will also be significant,” Swarup added.
Commenting on the Indian diaspora, Swarup said the 2.5 million strong expatriate community in the UAE is an important bridge between the two governments. “The prime minister is not only addressing the overall diaspora but also will engage with the Indian workers and it will be a significant interaction.”
Finally, he said, issues related to security will also be discussed. “Both countries are sensitive to threats from extremism and security and defence is another area where both the countries are looking to ramp up cooperation.”
“The most important concern is the rising tide of fundamentalism and extremism and all the GCC countries are concerned about what’s happening and I think India can be a partner … on how we can deal with this threat. The prime minister has always said that terrorism has no religion and it needs a global response.
“For all these reasons this is going to be a very important and a path-breaking visit.”
