UAE ‘partner of choice’ as India moves from tech absorber to builder on world stage: Sanjeev Sanyal

Day Three of India Global Forum UAE 2022 began with a high-powered panel discussion on Closer India-UAE Engagement – What Patterns and What Future? which assessed and gauged UAE-India relations from both current and future perspectives. Following the high-powered conversation, IGF UAE covered another interesting day of perspectives on pressing issues such as digital finance, reform, international relations, sustainability, healthcare, foreign policy, and globalisation.

Among the highlight speakers of the day was H.E. Reem Bint Ebrahim Al Hashimy, the Minister of State for International Cooperation, Ministry of Foreign Affairs and International Cooperation, Government of the UAE, who set the scene for the bilateral relationship working as “Partners for Global Impact” – the theme of IGF UAE 2022.

Minister Al Hashimy said: “We have a relationship which is centuries old and as we grow this relationship, we will unfold and unlock opportunities. We have already seen a pickup of 30 per cent in trade since the signing of CEPA [Comprehensive Economic Partnership Agreement] a few months ago and we can look forward to a trade volume of USD 100bn in five years in non-oil sectors. In the coming days, we will see innovation and technology emerge as a strong pillar in UAE-India trade relations even as traditional sectors remain strong.

“Following the onset of Covid-19, we have learnt a lot of lessons and today we are looking at building alliances for the future with countries with whom we share ambitions. With the Israel, India, UAE and USA (I2U2) framework, we will have a laser focus on leveraging each other’s strengths in technology to better prepare for future challenges.”

Outlining thoughts on economic policy of India, Sanjeev Sanyal, Member – Economic Advisory Council to the Prime Minister, Government of India, said: “In the coming days, following the signing of CEPA, we will see collaboration between UAE and India in sectors like science and technology, space, start-ups, medical technology even as we look to create global standards. Thanks to CEPA, we are already absorbing investments in infrastructure.

“For long, we have been followers and absorbers of technology from the West and East Asia. It is time for us to build capabilities and move to the front and represent the Indian Ocean region in the world stage. As India ascends to the G20 presidency, UAE is the partner of choice for India to take its shared ambitions to the global stage.”

Sunjay Sudhir, the Ambassador of India to the UAE, steered the highlight conversation of the day and described UAE-India relations are “very special and vibrant”.

He said: “This comfort has enabled building of corridors of trust, business and a great opportunity for people-to-people relationships. Negotiating a CEPA between India and UAE in less than 3 months has been a milestone and indicator of all things possible.

“What we are witnessing today is the transformation of this centuries old relationship into the most dynamic partnership which is ready for today and for the future as the world navigates through headwinds both political and economic. With the presidency of COP28 and G20, UAE and India (respectively) are looking forward to building a prosperous and a safer world.”

In an exclusive intervention, H.E. Mariam Almheiri – UAE Minister of Climate Change and Environment – lauded the India Global Forum for creating a high-level platform for bilateral dialogue. She said: “The UAE and India enjoy long-standing and cordial relations across multiple fronts and this Forum is making its mark in pushing our bilateral relations to a new level.

“The UAE is committed to working with India in confronting international challenges across multiple sectors to achieve a balanced and sustainable global economic growth.” Reflecting on another power-packed day, Professor Manoj Ladwa, Founder & Chairman, India Global Forum, said: “Beginning the day with a discussion on the tremendous scope and potential of UAE-India relations, the tone was set for another invigorating set of sessions that also covered a dynamic array of topics as part of the IGF Studio.

“Our endeavour at IGF is to facilitate such free-wheeling conversations between entrepreneurs and innovators, policymakers and thought leaders from around the world. The engaging interactions so far have certainly injected momentum behind India’s G20 presidency and the UAE as a Partner for Global Impact.”

Day Three of IGF UAE 2022 was themed The Forum: Partners for Global Impact and featured wide ranging lively conversations around topics including “Financial Services: Next Steps in Creating a World Leading Corridor”, “Efficient India – Reforming India Brick by Brick, Byte by Byte” and a pan India, Israel, UAE and USA session termed “I2U2 – New Alignment for New Opportunities”. The day also saw some stimulating conversations on pertinent topics as part of IGF Studio including:

•  On the Money with Edie Lush: Insights and news from the world of finance
• Talking Tech with Laura Buckwell: Straight talk on tech trends and investment
• The World Uncut with Mark Barton: Opportunities in a Conflicted World
• Climate Matters with Edie Lush: Accelerating Towards Net Zero
• The Leaders’ Table with Mark Barton: Transformative insights from global shapers
• Into 2023: Politics, Business, Media and the World Upside Down