As we commemorate the 78th Independence Day of India, it is time to reflect on the accomplishments made by our great nation since the famous ‘Tryst with Destiny’ speech made by India’s first Prime Minister at the midnight hour of August 15, 1947. This significant milestone calls us to reflect on our journey of growth, innovation, and global impact, underscoring India’s emerging role as a key player on the world stage.
India has taken remarkable strides in the past year, solidifying its position as a global economic powerhouse and a beacon of technological innovation. The country’s economy has exhibited resilience and growth, with the GDP expanding at a robust pace of 8.2 per cent in the past fiscal year, positioning India as one of the fastest-growing major economies in the world. By the end of financial year 2025, India is expected to surpass Japan to become the 4th largest economy in the world. Additionally, India’s thriving technology sector has witnessed groundbreaking advancements, with homegrown technology giants and start-ups driving innovation in fields such as artificial intelligence, renewable energy, and healthcare.
Chandrayan 3, India’s third lunar exploration mission and the world’s first lander rover to land near the moon’s south pole, has further solidified the country’s prowess in the space sector. Moreover, the start-up ecosystem in India has continued to thrive, with the country now boasting of over 100,000 registered start-ups, showcasing the entrepreneurial spirit and innovative potential of the nation.
India’s democratic institutions have continued to strengthen with the successful conduct of the 2024 general elections, which saw over 900 million eligible voters participate, marking the largest democratic exercise in the world. The elections were carried out seamlessly, a feat that remains unmatched.
UAE-India bilateral ties
The UAE has had a key role in India’s progress and the India-UAE friendship has grown by leaps and bounds in the last year. Since July 2023, Prime Minister Narendra Modi has visited the UAE thrice. Echoing the strength of our bilateral ties, President His Highness Shaikh Mohammad Bin Zayed Al Nahyan has also visited India two times in the last year. The special relationship is evident from several solid outcomes of intense high-level engagements throughout the year.
The warm embrace between our leaders is a symbol of our shared history and vision for the future. In the last year, our countries have moved forward by leaps and bounds in integrating our financial systems and making them more resilient and efficient. In February 2024, Prime Minisrer Modi and President Shaikh Mohammad made the first transaction using the UAE’s indigenously developed domestic debit card, Jaywan, which is based on India’s Rupay card stack. The Jaywan card has been rolled out for public in July, 2024.
Earlier, the Rupee-Dirham Local Currency Trade Settlement System was launched, the fruits of which have already come to bear with completed transactions worth millions of US dollars in crude, gold, food and other sectors. The decision to establish Bharat Mart in Dubai is another initiative that is a testimony to the trajectory of our partnership as envisioned by our leadership. We are utilising complementarities in our respective capacities with Bharat Mart as the demand and production capacities of India’s export goods match perfectly with the UAE’s expertise in logistics, shipping networks, and supply chain resilience.
Building domestic capabilities and self-dependence by harnessing each other’s strengths is a key pillar of the India-UAE comprehensive strategic partnership. This makes us natural partners.
India and the UAE have also embarked on an ambitious journey to build a future-ready population. The Indian Institute of Technology, Delhi, Abu Dhabi, is a testimony to that commitment. The Masters programme at IIT Delhi Abu Dhabi commenced in early 2024, and the flagship Bachelor’s programme is scheduled to commence in September 2024. Having set a foundation with the IIT, both countries have converted the shared ambition of making the UAE a global hub for excellence in higher education into reality with another world-class institution, the Indian Institute of Management, Ahmedabad, expected to commence operations in Dubai next year. India-UAE is truly a story like no other.
The mutual trust and confidence in bilateral relations are also reflected in the growing profile of our countries on the global stage. The UAE was a special guest at the G20 under India’s presidency and was an active contributor to all G20 working groups and a key participant that made the New Delhi Consensus a resounding success. In turn, India’s commitment to a clean, green, and sustainable future for humanity was backed up by its steadfast support for the UAE’s Presidency of the UNFCCC COP28, which resulted in the operationalisation of several key mechanisms related to funding for climate action.
Furthermore, both India and the UAE were special invitees at the G7 meetings in Italy in June. Constructive engagement with the world is valued by both countries. Another example of impactful initiatives is the India, Middle East, and Europe Economic Corridor (IMEEC) Project. Despite geopolitical challenges, the India-UAE leg of the IMEEC is nearing operationalisation, which will lead to the accrual of significant benefits for bilateral and global trade. The potential of our partnership is immense.
The India-UAE friendship is a model for the world. It is a living example of what shared values and mutual respect can achieve. A shining example of this is the BAPS Hindu Mandir in Abu Dhabi, which was inaugurated by Prime Minister Modi in February 2024. It is a testament to the shared values of tolerance and cooperation. Thanks to the graciousness of President Shaikh Mohammad for his approval, the temple has been a beacon of peace and harmony in the region. It is a big achievement that over a million visitors saw the temple within four months of its opening.
People-to-people connections
The Indian diaspora in the UAE continues to play a pivotal role in enhancing people-to-people connections and contributing to the UAE’s growth. The recent honour of naming a street after an Indian origin doctor reflects deep appreciation for the contribution of the Indian community. The diaspora’s dedication and hard work have positively impacted the UAE’s socio-economic landscape, reinforcing the strong bond between our nations.
As we celebrate the 78th Independence Day, I extend my heartfelt wishes to all citizens and friends of India. May this day inspire us to build on our success, foster innovation, and continue our journey towards a future of prosperity and global collaboration. Together, let us look forward to a future where our shared values and achievements guide us towards even greater heights.
