Modi’s two-day trip, which begins on August 16 , 2015 is a move to connect with the millions of Indians in the UAE by wooing the energy-rich country’s sovereign fund to invest in sectors like aviation, telecom, ports and road transport.
Points to Remember
- A public event is being planned at the Dubai Cricket Stadium on the evening of August 17 2015.
- The preprations for the event are done by Indian Community Welfare Committee (ICWC ).
- According to BR Shetty, a member of the organising committee, the reception is expected to attract at least 40,000 people of Indian origin.
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During his trip, Modi will visit both capital Abu Dhabi and Dubai.
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The ICWC has set up a website to facilitate registration of community members for the meeting.
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During his visit, Modi will be looking to further diversify bilateral trade and investments.
India and Dubai
- Dubai is the 10th biggest foreign investor in India.
- an estimated $3.01 billion in FDI flowed in as of January from Dubai.
- In 2014-15, bilateral trade between the two nations stood at close $60 billion.
- in 2014-15 the UAE became the second largest importer of Indian merchandise with sales topping $33 billion.
- The same year, the UAE was also the sixth largest import source of crude oil for India.
- The two sides would also like to deepen on cooperation in counter-terrorism, maritime security, prisoner swap, cooperation in agriculture and food security.
