UAE now ‘India’s closest partner’ in region, says envoy Sanjay Sudhir

Satish Sivan, Consul-General of India in Dubai, highlights the economic momentum between the two countries

- Nandini Sircar [e-mail]

India and the UAE are redefining their relationship with the UAE emerging as one of India’s most significant global partners, symbolising not only a hub of innovation and investment but also a deepening diplomatic and economic relationship, Indian Ambassador to the UAE, Sanjay Sudhir, said at the ‘News9 Global Summit UAE’ on Thursday.

The event, themed “India-UAE: Partnership for Prosperity and Progress,” was held at Taj Dubai featuring policymakers, business leaders, tech executives, Bollywood stars and influencers from the UAE and India.

Sudhir said: “This city, this country symbolises the energy of very different magnitude altogether. The UAE brings together people, best of minds, best technology investment, and also provides a platform of ideas. But most importantly, India’s relationship with the UAE is very special...and today, perhaps the UAE is India’s closest partner in this part of the world,” highlighting the growing strategic ties.

The ambassador noted several recent milestones that underline this expanding partnership. “Last year we also witnessed the signing of the bilateral investment treaty which has further strengthened investor confidence on both sides. Foreign Direct Investment (FDI) from the UAE into India reached approximately $4.5 billion last year.”

Cumulatively, the UAE has invested nearly $22 billion in FDI into India — an impressive feat given that the UAE is a relatively new entrant among India’s major foreign investors.