NEW DELHI: Prime Minister Narendra Modi on Saturday concluded his “productive visit” to France and United Arab Emirates (UAE), one which is outlined by “transformative outcomes”. He landed in India after concluding two brief however crucial two-nation excursions which begun on July 13. “A visit defined by transformative outcomes. PM @narendramodi emplanes for New Delhi after wrapping up a successful visit to UAE,” tweeted official spokesperson of Ministry of External Affairs Arindam Bagchi.
PM Modi arrived in Abu Dhabi on Saturday morning and held talks with President Sheikh Mohamed bin Zayed Al Nahyan. PM Modi’s UAE go to was marked by key agreements together with opening a brand new IIT Delhi campus in Abu Dhabi. The two international locations additionally pledged to advertise utilizing native currencies (Rupee and Dirham) for cross-border transactions and to interlink fee techniques.
During the go to, the PM Modi and UAE President Mohammed bin Zayed Al Nahyan witnessed the trade of three historic Memoranda of Understanding (MoU). An MoU on Local Currency Settlement (LCS) System was signed between the Reserve Bank of India and the Central Bank of the United Arab Emirates enabling using Indian Rupee (INR) and UAE Dirham (AED) for Cross-border Transactions.
cre Trending Stories
“This is a very important aspect of India-UAE cooperation. It paves the way for enhanced economic collaboration and will make international financial interactions simpler,” tweeted PM Modi. Another MoU was exchanged for the institution of a campus of IIT Delhi in Abu Dhabi between the Indian Ministry of Education, UAE’s Abu Dhabi Department of Education and Knowledge and the Indian Institute of Technology, Delhi (IIT).
This is the primary ever IIT to be arrange within the Middle East/North Africa (MENA) area. This is a landmark undertaking which displays the imaginative and prescient of the leaders and will probably be a tribute to the individuals of India and the UAE who’re the spine of the historic relationship. “This marks a significant stride in our educational internationalisation and is testament to India’s innovation prowess. Education is the bond that unites us, it’s the spark that ignites innovation. Together, we will leverage this power for mutual prosperity and global betterment,” Prime Minister Narendra Modi tweeted.
A 3rd MoU was exchanged on bilateral cooperation on interlinking the fee and messaging techniques between the Reserve Bank of India and the Central Bank of the UAE. The MoU will facilitate the mixing Unified Payments Interface (UPI) of India and the Instant Payments Platform (IPP) of the UAE. It may even facilitate interlinking card switches of the 2 international locations – RuPay change and UAESWITCH to facilitate the mutual acceptance of their home playing cards and processing of card transactions immediately with out counting on every other community.
Prior to visiting UAE, PM Modi was in Paris, the place, in a historic second, French President Emmanuel Macron bestowed the Grand Cross of the Legion of Honour on Prime Minister Narendra Modi. It is the best French honour in navy or civilian orders. With this, PM Modi turns into the primary Indian PM to obtain this honour.
PM Modi was hosted by French President Emmanuel Macron and France’s first girl Brigitte Macron on the Elysee Palace. Prime Minister Narendra Modi additionally attended Bastille Day Parade as Guest of Honour on the invitation of French President Macron on the Champs-Élysées. The key highlights of PM Modi’s France go to had been the MoUs signed to reinforce additional cooperation in defence sector which included the primary Scorpene submarine development programme (P75 – Kalvari), a mannequin of ‘Make-in- India’ and the sharing of naval experience between firms within the two international locations.
In A joint assertion issued following the PM Modi’s delegation stage talks with President Macron, each leaders applauded the collaboration between naval firms from each international locations in sharing their experience. The leaders additionally expressed their satisfaction with the Memorandum of Understanding (MoU) signed between [TT3] [P4] Mazgon Dockyard Ltd and Naval Group, which outlines the development of three extra submarines as a part of the P75 program.
The Scorpene Submarines are extraordinarily potent platforms, they’ve superior stealth options and are additionally outfitted with each long-range guided torpedoes in addition to anti-ship missiles. These submarines have a state-of-the-art SONAR suite and sensor suite allowing excellent operational capabilities. With a view to adopting a Roadmap on Defence Industrial Cooperation between the 2 international locations, India is establishing a Technical Office of the DRDO at its Embassy in Paris.
Highlighting the French dedication to the “Make-in-India” initiative, PM Modi and President Macron additionally recommended the protection industrial partnerships rooted in mutual belief, together with the contract between Safran Helicopter Engine and HAL for the Transfer of Technology of Forging and Castings for the Shakti Engine.
In line with their excellent cooperation in navy aviation spanning over 5 a long time, India and France welcome the well timed supply of the 36 Rafale ordered by India. In a big determination, India and France on Friday determined to increase their ground-breaking defence cooperation in superior aeronautical applied sciences by supporting the joint improvement of a fight plane engine.
A roadmap on this undertaking can be ready between French firm Safran and Defence Research and Development Organisation (DRDO) earlier than the top of this yr. They additionally determined to assist industrial cooperation for motorization of heavy-lift helicopters beneath the Indian Multi Role Helicopter [IMRH] programme with Safran Helicopter Engine.
