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
September 28,2024

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The Lebanese Hezbollah resistance movement has confirmed the assassination of its secretary general Sayyed Hassan Nasrallah in massive Israeli airstrikes targeting residential buildings in southern Beirut on Friday.

“His Eminence, the Master of Resistance, the righteous servant, has joined his Lord and His pleasure as a great martyr — an outstanding, courageous, wise, and insightful leader — joining the ranks of the radiant martyrs of Karbala in the divine journey of faith, following in the footsteps of the prophets and martyr imams,” Hezbollah said in a statement on Saturday afternoon.

“The leadership of Hezbollah vows to the highest, most sacred, and dearest martyr in our journey, filled with sacrifices and martyrs, to continue its struggle against the enemy, supporting Gaza and Palestine, and defending Lebanon and its steadfast, honorable people,” it added.

Since Friday afternoon, Israeli warplanes have conducted over 30 airstrikes, targeting residential buildings in Burj al-Barajneh, Kafaat, Choueifat, Hadath, al-Laylaki, and Mreijeh, with local media reporting upwards of 300 casualties as a result of the aggression.

Footage broadcast by al-Manar television channel from the crowded area of Beirut’s Dahiyeh shows flattened buildings, streets filled with rubble and clouds of smoke and dust above the area.

Martyrs’ Square, Beirut’s central public area, was crowded with exhausted and anxious families sheltering outdoors.

The recent attacks are part of the Israeli regime’s intensified assault on Lebanon, which has become more deadly this week, resulting in over 700 deaths nationwide since Monday.

The new attacks came less than a week after the Tel Aviv regime killed 38 people, including three children and seven women as well as senior Hezbollah commander Ibrahim Aqil in an attack on a residential building in a southern Beirut suburb.

Earlier on Saturday, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said the brutal attacks by the “rabid Zionist dog” on Lebanon revealed the shortsightedness and foolish policies of Israeli officials, calling on all Muslims to unite behind Lebanese people and Hezbollah.

“The Zionist criminals need to know that they are far too weak to be able to inflict any significant damage on the solid structure of Lebanon’s Hezbollah. All the resistance forces in the region stand with and support Hezbollah,” the Leader said in a statement on Saturday.

“The Lebanese have not forgotten that there was a time when the soldiers of the occupying regime were advancing toward Beirut, and Hezbollah stopped them, and made Lebanon proud. Today too, by the grace and power of God, Lebanon will make the transgressing, malicious enemy regret its actions,” Ayatollah Khamenei noted. 

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News Network
October 1,2024

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The Israeli regime has conducted a series of deadly airstrikes on the Syrian capital of Damascus, with Syrian media reporting three rounds of strikes in the capital area in one night.

An Israeli aircraft launched several missiles from the occupied Golan Heights on Tuesday, targeting locations southwest of Damascus.

Syrian air defenses successfully intercepted many of these missiles, according to the Syrian state media.

According to the Syrian military, the Israeli aggression led to the martyrdom of three civilians, the injury of nine others, and significant damage to private property.

The Al Mayadeen news outlet reports that local journalist Safaa Ahmad was among those killed in the attack, which hit the Mezzeh neighborhood in the Syrian capital. Rescue crews are dealing with fires on the ground.

Syrian television said one of its anchors was killed in the Israeli strike on Damascus on Tuesday.

State television said in a statement that it "mourns anchor Safaa Ahmad who was martyred in the Israeli aggression on the capital Damascus."

The official SANA news agency earlier said "air defense systems are intercepting hostile targets for the third time tonight in the Damascus area," using a phrase that usually refers to Israeli aggression.

Subsequently, another wave of attacks was aimed at the suburbs of Damascus which was intercepted by air defenses.

Syria has consistently called on the UN Security Council to take action against these assaults, which it views as clear violations of its sovereignty and territorial integrity.

Israel frequently targets military positions inside Syria, especially those of the Lebanese resistance movement Hezbollah which has played a key role in helping the Syrian army in its fight against foreign-backed terrorists.

The Tel Aviv regime rarely comments on its attacks on Syrian territories, which many see as a knee-jerk reaction to the Syrian government’s phenomenal success in confronting and decimating terrorism.

Damascus has time and again called on the UN Security Council to put an end to the regime’s attacks that violate Syria’s sovereignty and territorial integrity.

The Israeli attacks on Syria come amid the regime’s ongoing genocide in the Gaza Strip which has killed more than 41,600 people, mostly women and children, over the past year.

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News Network
October 8,2024

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A Palestinian prisoners’ rights group says Israeli forces have abducted a total of 108 journalists during violent raids across the occupied West Bank and the Gaza Strip ever since the regime’s onslaught on the besieged coastal territory started more than a year ago.

The Prisoner Support and Human Rights Association, which is also known as Addameer, said in a statement on Monday that at least 58 journalists remain in Israeli custody, including six female journalists and 22 journalists from Gaza whose identities have been confirmed.

Addameer added that at least 16 of the journalists are being held under administrative detention.

An overwhelming majority of Palestinian prisoners are arrested under a quasi-judicial process known as administrative detention, under which Palestinians are initially jailed for six months. Their detentions can then be repeatedly extended for an indefinite period without charge or trial.

Neither the administrative detainees, who include women and children, nor their lawyers are allowed to see the “secret evidence” that Israeli forces say form the basis for their arrests.

Addameer noted that more than 9,000 orders of administrative detention have been issued since October 7 last year, ranging between new orders and renewals, including orders against children and women.

The report comes as another Palestinian journalist was killed in an Israeli airstrike in the northern Gaza Strip on Sunday, bringing the total death toll of journalists killed since October 7 last year to 175.

The government media office in the Gaza Strip in a statement identified the victim as Hassan Hamad, without giving details about the circumstances of his death.

“We condemn in the strongest terms the targeting, killing, and assassination of Palestinian journalists by the Israeli occupation,” it said.

The media office also called on the international community and international organizations to “deter the occupation and prosecute it in international courts for its ongoing crimes.”

Journalists operating in the Palestinian territory are faced with increased dangers as they report on the conflict amidst Israeli ground assaults and airstrikes, disrupted communications, supply shortages, and power outages.

Israel launched the war on Gaza on October 7 last year, after Palestinian resistance groups carried out a surprise retaliatory operation into the occupied territories.

So far, the Israeli war on Gaza has killed at least 41,909 Palestinians, most of them women, children, and adolescents, and injured 97,303 others.

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