'Ahlan Modi' mega diaspora event in UAE on February 13
PM Modi - UAE
Prime Minister Narendra Modi is set to address the "Ahlan Modi" mega diaspora event in Abu Dhabi on February 13. Translated as "welcome" in Arabic, the event is poised to be one of the largest gatherings of the Indian diaspora, with an estimated 50,000 attendees. At 3.3 million, the UAE is home to the largest number of Indian diaspora anywhere in the world.
This event comes just ahead of the inauguration of the BAPS Hindu Mandir on February 14, where Prime Minister Modi will officiate the ceremony. The foundation stone of the Hindu Mandir was laid on April 20, 2019. The history of this project traces back to the visit of Prime Minister Narendra Modi in 2015, during which the UAE Govt allocated the land for the Mandir.
Over the past years, India-UAE relations have seen remarkable growth, with both nations actively engaging in high-level visits and diplomatic exchanges. UAE President Mohamed bin Zayed Al Nahyan is scheduled to visit India next week for the vibrant Gujarat investors summit, underscoring the significance of economic cooperation.
Since 2014, Prime Minister Modi has made six visits to the UAE, the most recent being in December for the Dubai climate change summit. These visits have played a pivotal role in elevating the bilateral relationship, with India-UAE trade reaching new heights. Currently valued at around US$ 73 billion, the trade volume has grown significantly from the modest US$ 180 million per annum in the 1970s.
India's exports to the UAE have surged, making it the second-largest export destination after the United States. Transactions have exceededUS$ 28 billion for the year 2021-22. Both nations signed the Comprehensive Economic Partnership Agreement (CEPA) in 2022, further solidifying their economic collaboration.
The UAE has emerged as a substantial investor in India, contributing an estimated US$ 20-21 billion, with US$ 15.18 billion in Foreign Direct Investment (FDI). This places the UAE as the 7th largest investor in India in terms of FDI, reflecting the confidence in India's economic potential.
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