UAE promised mega investment high on PM-Sheikh talks
New Delhi, Jan 17: Expect a concrete forward movement in the United Arab Emirates’s long-awaited pledge of investing $75 billion (Rs 5 lakh crore) in India when Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan comes calling to India on a State visit from January 25 to 27, during which he will be the chief guest at Republic Day parade.
The UAE had made that commitment one-and-a-half years ago when Prime Minister Narendra Modi had visited the country, but unfortunately, according to New Delhi, no UAE investment has been known to have ploughed into India.
For Modi, who will complete 32 months of his 60-month tenure by the time the visit concludes, the promised UAE mega investment will figure very high on his discussions with the prince.
This will be the second State visit by the prince to India within a year.
During his last visit in February 2016, Modi had broken protocol to receive him at the airport and described him as a “visionary leader”.
Since then, India and the UAE have been working on breaking new ground in bilateral relations, including the production of defence equipment in India.