India, UAE sign currency swap agreement, to directly trade in dirham, rupee
The Dollar Business Bureau India and the United Arab Emirates (UAE) have signed a currency swap agreement that will enable businesses from both the nations to directly trade in each other’s currency, bypassing the US Dollar or any other international currency. The signing of agreement means that business communities from both sides can save huge money as trade between the two countries reached to new highs. “India and the UAE have reached an agreement that will enable businesses in both countries to bypass the dollar and other foreign currencies and trade directly in dirhams or rupees,” said Navdeep Suri, India’s Ambassador to the UAE. “[This] means that there is a saving for the business community. It makes trade between the two countries more competitive,” ...
India and UAE to increase mutual trade by 60% by June 2017
The Dollar Business Bureau In a recent meeting, the Indian Prime Minister and Prince Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan discussed issues related to matters such as security, defence, and energy. Confirming the joint statement made by India and UAE, the bilateral engagements will be concluded by June 2017. Also, a 60% increase in mutual trade between the two countries has been targeted by June 2017. In a meeting held on 25 Feb 2017, the Indian PM and the Prince of Abu Dhabi decided to improvise mutual trade. The meeting included discussions and interests concerning security issues such as counter terrorism, cyber security, and maritime security. Both the leaders agreed to exchange maritime training to curb piracy. The report stated that the leaders ...
India seeks UAE investments in food processing sector
UAE continues to be Indias major trade partner in the Gulf region with current bilateral trade being about $60 billion Indias third largest trading partner and second largest export destination The Dollar Business Bureau India has tremendous potential in production of food items; grains, vegetables, fruits, and milk but has not been able to build adequate processing infrastructure Pitching Indias food processing industry on the global stage, the Food Processing Minister Harsimrat Kaur Badal on Sunday exhorted foreign investors to take advantage of Indias supportive policy environment and invest in mega food parks, cold chains and various other food processing value chains. India is a huge and promising market with 1.2 billion population, increasing purchasing power, adequate availability of raw materials, availability ...
India, UAE ink 9 pacts to boost trade and investment
India is looking to tap into UAEs nearly $800-billion sovereign wealth fund which is currently under the Abu Dhabi Investment Authority (ADIA) The Dollar Business Bureau Prime Minister Narendra Modi and the Crown Prince of Abu Dhabi, His Highness Sheikh Mohammed Bin Zayed Al Nahyan during the exchange MoUs, at Hyderabad House, in New Delhi on Thursday India and the United Arab Emirates, the Gulfs economic powerhouse and New Delhis third largest trading partner, signed nine key agreements in areas ranging from renewable energy, cyber security and space cooperation to infrastructure investment and currency exchange. Earlier this week, Prime Minister Narendra Modi held bilateral meetings with the visiting Crown Prince of Abu Dhabi Sheikh Mohamed Bin Zayed Al Nahyan in New Delhi and ...
