This post was originally published on 24 January 2017.
In a special gesture, Prime Minister Narendra Modi on Tuesday received at the airport Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan, who will be the Chief Guest at this year’s Republic Day parade.
Al Nahyan, also the Deputy Supreme Commander of the UAE armed forces, arrived here on a three-day visit and will hold comprehensive talks with Modi tomorrow after which the two sides are expected to sign nearly 16 pacts including Strategic Cooperation Agreement.
The invitation to United Arab Emirates’ Crown Prince also indicates a significant turn in India’s Foreign Policy where it is emphasising to advance its interests in the Middle East.
The visit by the crown prince will be his second official tour to India in a year. He will be the first leader from the Gulf at the parade since 2006 when Saudi King Abdullah bin Abdulaziz al-Saud was the chief guest.
The joint statement also mentioned the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of USD 75 billion to support investment in India’s plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.
The proposed UAE-India Infrastructure Investment Fund will also be linked with India’s Pioneer Fund National Infrastructure and Investment Fund. The proposed investment , if completely executed, will make United Arab Emirates India’s largest investor.
United Arab Emirates is also home to 2.6 million Indian Population which also contributes approximately $ 12. 63 billion to Indian economy in form of remittances.
The United Arab Emirates is also India’s third-largest trading partner with $60 billion in bilateral trade between the two countries.