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 25,2024

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Israel began a third day of strikes in southern Lebanon on Wednesday, hours after Hezbollah confirmed the death of a senior commander in an airstrike on Beirut and a Lebanese minister said only Washington could help end the fighting.

Lebanese media reported that Israeli airstrikes had targeted several areas in the country’s south, beginning at around 5am, causing unspecified casualties.

Hezbollah meanwhile said it had launched a rocket targeting Mossad headquarters near Tel Aviv. Sirens had sounded in the Israeli city early on Wednesday, sending residents into bomb shelters, however the Israeli military later said it had intercepted the missile and no casualties or damage were reported.

Earlier on Wednesday, Hezbollah had confirmed that senior commander Ibrahim Qubaisi was among six people killed by an Israeli airstrike on an apartment block in the Lebanese capital Beirut on Tuesday, as Israel had claimed earlier. Israel said Qubaisi headed the group’s missile and rocket force.

Israel’s offensive since Monday morning has killed 569 people, including 50 children, and wounded 1,835 in Lebanon, health minister Firass Abiad told Al Jazeera Mubasher TV. Tuesday’s attacks came after Monday’s barrages racked up the highest death toll in any single day in Lebanon since the 15-year civil war that started in 1975.

Israel’s new offensive against Hezbollah has stoked fears that nearly a year of conflict between Israel and the militant Palestinian group Hamas in Gaza is escalating and could destabilise the Middle East. Britain urged its nationals to leave Lebanon and said it was moving 700 troops to Cyprus to help its citizens evacuate.

The UN security council said it would meet on Wednesday to discuss the conflict.

“Lebanon is at the brink. The people of Lebanon – the people of Israel – and the people of the world – cannot afford Lebanon to become another Gaza,” UN secretary general António Guterres said.

At the UN, which is holding its general assembly this week, US President Joe Biden made a plea for calm. “Full-scale war is not in anyone’s interest. Even if a situation has escalated, a diplomatic solution is still possible,” he said.

Lebanon’s foreign minister Abdallah Bou Habib criticised Biden’s address as “not strong, not promising” and said the US was the only country “that can really make a difference in the Middle East and with regard to Lebanon.” Washington is Israel’s longtime ally and biggest arms supplier.

The US “is the key … to our salvation,” he told an event in New York City hosted by the Carnegie Endowment for International Peace.

Up to half a million people are estimated to have been displaced in Lebanon, said Bou Habib. He said Lebanon’s prime minister hoped to meet with US officials over the next two days.

In Lebanon, displaced families slept in shelters hastily set up in schools in Beirut and the coastal city of Sidon. With hotels quickly booked to capacity or rooms priced beyond the means of many families, those who did not find shelter slept in their cars, in parks or along the seaside.

Fatima Chehab, who came with her three daughters from the area of Nabatieh, said her family had been displaced twice in quick succession.

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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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News Network
October 4,2024

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Powerful blasts rocked Beirut overnight in some of the heaviest Israeli strikes on the capital of Lebanon so far as the Lebanese Health Ministry reports dozens killed and over 150 wounded in bombing attacks across the country in the past 24 hours.

Israel launched several waves of airstrikes on Beirut’s southern neighborhood of Dahiyeh on Thursday.

The regime used powerful bunker-buster bombs in its latest attacks, whose number was more than a dozen.

Several civilian buildings were the main goals of the regime’s latest strikes.

Reports indicate that more bombs were used in the latest attacks compared to the strike that killed the leader of the Hezbollah resistance movement, Sayyed Hassan Nasrallah, last Friday.

The attacks also hit the vicinity of Beirut International Airport.

Israel’s strikes also targeted several other locations, including Hezbollah’s media relations office and a warehouse near the Beirut airport.

A source close to Hezbollah said Israel had conducted 11 consecutive strikes in south Beirut on Thursday night.

AFP correspondents in the Lebanese capital heard loud bangs that made car alarms go off and buildings shake.

"Israel struck the southern suburbs 11 consecutive times," the source said on the condition of anonymity.

Giant balls of flame rose from the targeted site with thick smoke billowing and flares shooting out.

Lebanon's official National News Agency (NNA) said that "more than 10 consecutive strikes have been recorded so far, in one of the strongest raids on the southern suburbs of Beirut since the start of the Israeli war on Lebanon."

The strikes echoed to mountain regions outside Beirut, the NNA said.

Earlier Thursday, the Israeli army issued an “urgent warning” to the residents of the south Beirut area of Burj al-Barajneh to evacuate along with maps of the area.

“You are located near Hezbollah facilities and interests, against which the [Israeli army] will operate in the near future,” its official Arabic language spokesperson posted on X.

The death toll from Israeli aerial assaults across Lebanon since early October 2023 has passed the 1,700 mark with nearly 8,770 injured, according to Lebanese government data.

In response, Hezbollah has fired barrages of rockets and drones towards Israeli targets.

Hezbollah has been responding to the aggression with numerous retaliatory operations, including with hypersonic ballistic missiles, targeting the occupied Palestinian territories.

The Lebanese resistance movement has vowed to keep up its operations against Israel as long as the Israeli regime continues its Gaza war, which has so far killed more than 41,780 Palestinians, mostly women and children.

The qualitative strikes of Hezbollah have so far thwarted any hostile "Israeli" advance into Lebanese territory.

Hezbollah said in a statement that at least 17 Israeli troops have been killed since the regime launched its incursion into southern Lebanon.

Since dawn on Thursday, the Lebanese resistance fighters have been repelling every attempt by the Israeli elite forces to advance on multiple fronts in southern Lebanon, inflicting heavy losses in equipment and personnel.

A Lebanese political analyst recently praised Hezbollah’s operational capabilities, warning that Israeli forces will become "sitting ducks" for the Lebanese resistance group should they attempt a ground invasion of southern Lebanon.

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