UAE is a special partner in India’s look west policy. UAE with its surplus of oil and capital can fuel the demand of India. India diaspora is a huge source of human resource for UAE. The relation pillars can be summarised under the two heads:
Economically:
- Central to India’s pitch for improving foreign direct investments (FDIs) inflow to the country with the large sovereign wealth and business acumen (India is the UAE’s largest trading partner, while the UAE is India’s third largest trading partner after China and the US.)
- Expo-2020, the world’s third largest global event after the Olympics is going to be held in Dubai → Boost infrastructure related activities in the UAE → Open opportunities for Indian investors (UAE is focused on diversifying its economy)
Strategically:
To counter terrorist threats and combat online radicalization
- India and UAE are rapidly expanding cooperation in the areas of defence, maritime security, space, civilian nuclear energy, defence manufacturing and collaboration between security agencies with an eye on fighting terrorism.
- India has stepped up efforts to raise the issue of cross-border terrorism and use of religion to incite terror activities against India during its engagements with these countries. The Mumbai Attack gave a very powerful message against ‘jihad’ sponsored by Pakistan.
Need of the hour is to give impetus to the growing relation and to tap further opportunities.