UAE can be India's valuable partner to achieve USD 5 trillion economy: Modi

Agencies
August 24, 2019

Abu Dhabi, Aug 24: India finds a partner in the UAE to achieve its ambitious dream of achieving a USD five trillion economy, Prime Minister Narendra Modi told the Emirates News Agency, WAM, in an exclusive interview.

"We consider the UAE as a valuable partner in realising the objective to reach USD 5 trillion economy through mutually beneficial partnership," said Modi, who is currently on a two-day state visit to the UAE.

"India has embarked on the ambitious, yet achievable, path to be a USD five trillion economy by 2024-25. We are targeting about USD 1.7 trillion dollar worth of investment in the coming five years. To achieve this vision, the government is working to promote inflows from domestic as well as foreign sources," the Prime Minister explained.

He said that the UAE-India relations are "at their best ever", adding that the UAE investments in key sectors in India are growing.

"There has been an increasing interest in investments in India in sectors ranging from renewable energy, food, ports, airports, defence manufacturing and other sectors," Modi said.

"UAE investments in [sectors such as] infrastructure and housing are being enhanced. The UAE is our third-largest trading partner with about US$60 billion bilateral trade in 2018-19. Many of our companies are investing here in the UAE. Both countries are working closely and vigorously to implement the commitment of USD 75 billion investment by the UAE in India," Prime Minister Modi said.

"I feel immensely proud in conveying that India-UAE relations are at their best ever," added the Prime Minister.

He highlighted the importance of the Comprehensive Strategic Partnership Agreement signed during the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India in January 2017 as the Chief Guest of Indian Republic Day.

"Since then we have made enormous progress in implementing agreements signed in key areas including defence, security, investment in infrastructure, energy and more. In other words, our relations are truly multi-dimensional," Modi pointed out.

"I sincerely compliment the leadership and direction that His Highness Sheikh Mohamed bin Zayed has personally provided in taking this relationship to new heights," he said.

The Prime Minister believes that his third visit to the UAE, in the last four years, reflects the desire and will of the two countries to sustain the momentum achieved in the bilateral relationship.

"In this visit, I look forward to further strengthening our all-round cooperation. I also look forward to holding discussions with my brother His Highness Sheikh Mohamed Bin Zayed. I greatly admire his vision. I always find the exchange of views with him stimulating and energising," he explained.

"We have a number of important matters to discuss regarding bilateral relations as well as the regional and global situation. I am confident that my visit will serve to further strengthen our robust and vibrant relations," Modi said.

"I am very upbeat about the trajectory of our relations and for opening up new areas of cooperation. I think there exists huge potential to make this cooperation a win-win for both countries," he added.

About The Order of Zayed, the highest civilian award of the UAE, which he is receiving on Saturday morning, the Prime Minister said, "It is an honour of special significance for me and my fellow 1.3 billion Indians. It commemorates the memory of a great and visionary world leader, the Father of this beautiful nation, the late Sheikh Zayed bin Sultan Al Nahyan."

"It is an even greater honour to be conferred this Order in the birth centenary year of Sheikh Zayed. His ideas, vision and wisdom are very much relevant in contemporary times. This award for me also symbolises the brotherly ties between our two countries and their peoples," Modi stressed.

About Indian community in the UAE, he said, "We are immensely proud that the rich contribution of our community in building a modern, diverse and vibrant UAE are acknowledged and appreciated by the leadership of the UAE.

"Apart from the Indians whose remittances sustain their families back home in India, we are also witnessing a steady increase in investments into India by some of the top Indian business leaders in the UAE.

"I extend my deepest appreciation to the leadership of the UAE for looking after the well-being of the Indian diaspora here like a true guardian. I would also like to thank the leadership of the UAE on the steps taken recently to provide long-term visas and other benefits to expatriates."

Talking about the global economic situation, the Prime Minister said, "Global economy is facing some headwinds. Experiences of the last five years, however, give me the confidence that the Indian economy and people of India have everything in them to not only face but also counter any headwinds."

India's fundamentals are very strong, driven by "numerous" strengths, he said.

The last five years have seen the highest average growth and lowest average inflation in the last three decades, Modi went on to say, adding that India has been improving its performance in "almost all global rankings," such as ease of doing business or innovation.

He said India had significantly increased its contribution to global growth in the last five years, making India an important engine of the global economy.

"I am confident that the collective endeavour of 1.3 billion Indians comprising millions of farmers, hundreds of thousands of industrialists and young entrepreneurs and start-ups and women, will ensure this." He said.

"India's skilled human resources, rapid infrastructure growth and the world's biggest market are reasons for our optimism. At the same time, we are focused on further improving our competitiveness through long-term reforms."

These encompass steps to move even higher in ease of doing business, tax reforms with lowering of tax rates and simplifying procedures, labour sector reforms and Foreign Direct Investment-related reforms to make an investment in India more lucrative, he explained.

During the past few years, he said, India has become "the fastest-growing major economy in the world," adding that all the macro-economic parameters such as current account deficit, fiscal deficit and inflation were brought down to acceptable levels.

The vision for the next five years is to have an investment-led growth, Modi concluded.

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News Network
November 7,2024

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The Israeli regime has killed at least 40 people during new airstrikes against eastern Lebanese areas, besides targeting the country’s capital Beirut with fresh acts of aggression.

Lebanon’s health ministry announced the fatalities on Wednesday, saying 53 other people had also been wounded during the aerial attacks that targeted the country’s Bekaa Valley, including the city of Baalbek.

In early Thursday, the regime was also reported to have attacked Beirut’s southern suburbs, including a site adjacent to Rafiq Hariri International Airport.

The attacks came after the regime issued short-notice evacuation orders apparently directed at the residents of the areas, claiming that the areas contained facilities belonging to Lebanon’s Hezbollah resistance movement.

Tel Aviv has been using similar claims on countless occasions since last October, when it markedly intensified its deadly acts of aggression against Lebanon, in order to try to justify the escalation. Hezbollah has, however, invariably refuted the claims.

Also on Wednesday, the United Nations warned in its most recent flash report on the humanitarian crisis caused by the Israeli atrocities targeting Lebanon that the aggression had “reached a critical point.”

The attacks have claimed the lives of more than 3,000 people, which was “58 percent more than the 1,900 fatalities” that were caused by the regime’s 2006 war against Lebanon, the report said.

“Additionally, an estimated 1.3 million people have been displaced, both within Lebanon and into neighboring countries, 33 percent more than the number of people displaced in 2006,” it added.

Women comprised the majority of those who had been rendered homeless within Lebanon as a result of the Israeli attacks, the report noted.

It also regretted that the Israeli attacks had featured 78 assaults on healthcare facilities across the country that had claimed the lives of 130 health workers and injured 111 others.

In response to the aggression, Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 4,2024

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Hundreds of Israeli settlers conducted a brutal attack in the occupied West Bank city of Ramallah.

The settlers set fire to numerous homes and vehicles of Palestinians and then moved to the main road connecting Ramallah to other cities, targeting Palestinian cars passing by.

They stormed the city of al-Bireh, near Ramallah, and burned Palestinian property and vehicles.

A woman sustained injuries after the settlers hurled stones at her vehicle, according to Palestinian news outlets.

Tension has been running high across the West Bank because of Israel’s genocidal war in the Gaza Strip, which has killed at least 43,341 people, mostly women and children, since last year’s October.

The Monday settler attack came as the Palestinian resistance movement Hamas warned of Israel’s plans to annex the West Bank and drive Palestinians out.

“We warn of the grave danger posed by the plans led by the extremist occupation regime and illegal settler groups to displace the residents of Palestinian villages in the occupied West Bank,” Hamas official Mahmoud Mardawi said.

Israel's far-right minister Bezalel Smotrich called for the full annexation of the West Bank and the Gaza Strip last week.

Smotrich asserted that Israel should unequivocally declare there would be no Palestinian state.

He repeated his proposal of expanding Israeli settlements within the West Bank and other occupied territories.

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News Network
November 14,2024

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The UN special rapporteur for Palestine has slammed Israel’s parliament for passing a law authorizing the detention of Palestinian children, who are “tormented often beyond the breaking point” in Israeli custody.

Francesca Albanese, the UN special rapporteur on the rights situation in the Occupied Palestinian Territory, in a Thursday post on X, characterized the experiences of Palestinian minors in Israeli detention as extreme and often inhumane.

The UN expert highlighted the grave impact of this policy, noting that up to 700 Palestinian minors are taken into custody each year, a practice she described as part of an unlawful occupation that views these children as potential threats.

Albanese said Palestinian minors in Israeli custody are “tormented often beyond the breaking point” and that “generations of Palestinians will carry the scars and trauma from the Israeli mass incarceration system.”

She further criticized the international community for its inaction, suggesting that ongoing diplomatic efforts, which often rely on the idea of resuming negotiations for peace, have contributed to normalizing such human rights violations against Palestinian children and the broader population.

The comments by Albanese came in response to Israel’s parliament (Knesset) passing a law on November 7 that authorizes the detention of Palestinian children under the age of 14 for “terrorism or terrorist activities.”

Under the legislation, a temporary five-year measure, once the individuals turn 14, they will be transferred to adult prison to continue serving their sentences.

Additionally, the law allows for a three-year clause that enables courts to incarcerate minors in adult prisons for up to 10 days if they are considered dangerous. Courts have the authority to extend this duration if necessary, according to the Knesset.

The legislation underscores a shift in the treatment of minors and raises alarms among human rights advocates regarding the legal and ethical ramifications of detaining children and the conditions under which they may be held.

Thousands of Palestinians, including hundreds of children and women, are currently in Israeli jails—around one-third without charge or trial. Also, an unknown number are arbitrarily held following a wave of arrests in the wake of the regime's genocidal war on Gaza.

Since the onset of the Gaza war, the Israeli regime, under the supervision of extremist minister Itamar Ben-Gvir, has turned prisons and detention centers into “death chambers,” the ministry of detainees and ex-detainees’ affairs in Gaza says.

Violence, extreme hunger, humiliation, and other forms of abuse of Palestinian prisoners have been normalized across Israel’s jail system, reports indicate.

Over 270 Palestinian minors are being detained by Israeli authorities, in violation of UN resolutions and international treaties that forbid the incarceration of children, as reported by Palestinian rights organizations.

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