{"id":241094,"date":"2023-05-05T20:29:18","date_gmt":"2023-05-05T14:59:18","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=241094"},"modified":"2023-05-05T20:29:18","modified_gmt":"2023-05-05T14:59:18","slug":"uaes-minister-of-economy-writes-uae-india-cepa-promoted-a-favourable-environment-for-startups-to-thrive-in-both-countries","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/uaes-minister-of-economy-writes-uae-india-cepa-promoted-a-favourable-environment-for-startups-to-thrive-in-both-countries\/","title":{"rendered":"UAE\u2019s minister of economy writes: UAE-India CEPA promoted a favourable environment for startups to thrive in both countries"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cUAE\u2019s minister of economy writes: UAE-India CEPA promoted a favourable environment for startups to thrive in both countries\u201d <\/strong>published in \u201cThe Indian Express\u201d <\/strong>on 5th May 2023<\/strong>.<\/p>\n

Syllabus: <\/strong>GS2- Bilateral groupings and agreements<\/p>\n

Relevance<\/strong>– India and UAE bilateral relationship<\/p>\n

News<\/strong>– The article explains the evolving partnership between India and UAE.<\/p>\n

What are some important facts about the bilateral relationship between India and UAE?<\/strong><\/h2>\n

The relationship is shaped by years old cultural and economic engagement<\/strong> through the Indian Ocean\u2019s network of exchange.<\/strong><\/p>\n

India-UAE relationship is today more than an economic partnership.<\/strong> It shows the deep, fraternal, and strategically important relationship<\/strong> between two countries.<\/p>\n

The I<\/strong><\/a>ndia-UAE partnership was based on the trade of traditional items<\/strong>. It was strengthened with oil.<\/strong> It found a formal dimension after the creation of the UAE Federation in 1971.<\/p>\n

The relationship accelerated in the 1990s after liberalisation<\/strong>. India started exporting to the UAE and markets beyond. Today UAE is India\u2019s third-largest trade partner.<\/strong><\/p>\n

How is the Comprehensive Economic Partnership Agreement (CEPA) beneficial for the two countries?<\/strong><\/h2>\n

It has generated greater trade volumes<\/strong> and improved mutual access to markets<\/strong>. It has generated a wide range of economic, industrial and investment opportunities. <\/strong><\/p>\n

The UAE-India CEPA has been an incredible success. The volume of non\u2013oil trade reached the $50 billion mark in 2022, with growth of about 10%.<\/p>\n

It has generated multiplier effects<\/strong>. It is covering the widest possible range of subjects<\/strong> from digital economy to free trade, among other mutual priorities. It has served as a powerful platform for unprecedented partnerships and multi-sectoral collaboration.<\/strong><\/p>\n

The UAE-India CEPA is unleashing the spirit of entrepreneurship, inspiring innovators and investors<\/strong>. It is encouraging SMEs, startups<\/strong> to make inroads into new markets.<\/p>\n

The UAE-India CEPA is also a strategic catalyst<\/strong> in addressing vital developmental challenges. <\/strong>It can tackle issues such as energy and food security, agriculture, and sustainability, <\/strong><\/p>\n

It adds greater importance to the presence of India and the UAE in regional blocs and multi-laterals<\/strong> such as the I2U2 and UFI.<\/p>\n

What is the potential of India and UAE relationship?<\/strong><\/h2>\n

The UAE looks forward to the opening of the IIT-<\/strong>Delhi<\/strong><\/a> campus in Abu Dhabi <\/strong>next year. Positive outcomes are expected from the MoU in academic cooperation <\/strong>signed between Anwar Gargash Diplomatic Academy (AGDA) and O P Jindal Global University.<\/p>\n

In September last year, the UAE and India signed an MoU to establish the Emirati India Cultural Council.<\/p>\n

More recently, thAbu Dhabi unveiled its first exhibition of the year \u2014 \u2018Bollywood Superstars: A Short Story of Indian Cinema\u2019<\/strong>. This deepening of India-UAE exchange of arts, culture and education<\/strong> indicates mutual trust and shared values.<\/strong><\/p>\n

The UAE-India CEPA and our strong people-to-people relations<\/strong> have created a highly favourable business environment. <\/strong><\/p>\n

It is an opportune moment for India\u2019s dynamic startup ecosystem, its unicorns and innovators, to explore growth and diversification<\/strong> into the Emirati market, and from there to the Middle East, Africa, and Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cUAE\u2019s minister of economy writes: UAE-India CEPA promoted a favourable environment for startups to thrive in both countries\u201d published in \u201cThe Indian Express\u201d on 5th May 2023. Syllabus: GS2- Bilateral groupings and agreements Relevance– India and UAE bilateral relationship News– The article explains the evolving partnership between… Continue reading UAE\u2019s minister of economy writes: UAE-India CEPA promoted a favourable environment for startups to thrive in both countries<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10500],"class_list":["post-241094","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704786237},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/241094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=241094"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/241094\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=241094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=241094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=241094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}