Energy Security
- The UAE's role as India's trusted partner in energy security is emphasised by strategic oil reserves stored in India and agreements on crude oil storage facilities.
- The collaboration between Indian Strategic Petroleum Reserves Ltd and the Abu Dhabi National Oil Company underlines the shared interest in securing energy resources.
- Both nations actively engage in defence and security cooperation, showcasing mutual trust and a commitment to regional stability.
- Notable instances of making exceptions for each other, such as India's special invitation to the OIC Foreign Ministers’ Meeting and the UAE's participation in the G-20 summit under India’s presidency, demonstrate a unique level of diplomatic understanding.
- Cultural exchanges, as seen in India being the 'Guest of Honour' at the Abu Dhabi Festival and the conferring of the Order of Zayed on PM Modi, strengthen people-to-people ties.
- Establishments like the IIT Delhi Abu Dhabi campus and the opening of a UAE consulate in Hyderabad further solidify the cultural and educational dimensions of the partnership.
- The involvement of both countries in crucial groupings like I2U2 and the India-Middle East-Europe Economic Corridor showcases their shared geopolitical interests.
- The UAE's participation in the corridor, aimed at connecting India to Europe, signifies a potential rival to China’s Belt and Road Initiative.
Conclusion
- The India-UAE strategic partnership is a testament to the depth and diversity of ties that have evolved over the years.
- From diplomatic and economic collaboration to cultural exchanges and shared geopolitical interests, the relationship stands as a model of convergence and mutual respect.
- As both nations recognise the potential for further growth, the privileged strategic partnership is poised to strengthen in the years ahead.
Q1) What's the difference between the concept of Atma Nirbhar Bharat vs. Free Trade Agreements (FTAs)?
The two concepts are not contradictory, but rather complementary to each other. Atmanirbhar Bharat does not mean self-containment, isolating away from the world or being protectionist. Rather it’s about getting our act together to improve domestic production of finished goods, gain from better integration with the global value chain and ensure fair trade. Atmanirbhar Bharat Abhiyan together with a calibrated and balanced free trade agreement would build a self-reliant India that would focus not just on boosting domestic manufacturing but also on making the country a part of the global value chain.
Q2) What is the definition for "originating products" under CEPA?
The goods which are wholly obtained or produced entirely in the party country or if the product is not wholly or partly produced in the country then it has to satisfy stringent conditions which are one, The good has a qualifying value content of not less than 40 per cent and all the non-originating materials used for production have to undergo a change in tariff classification at the four or six-digit level.