New Delhi: Prime Minister Narendra Modi on Saturday concluded his “fruitful visit” to France and the United Arab Emirates (UAE), which was defined by “transformative outcomes”. He reached India after completing two short but very important visits to the two countries that began on 13 July. “A visit defined by transformative outcomes. Prime Minister Narendra Modi leaves for New Delhi after completing a successful visit to UAE,” the official spokesperson tweeted. Ministry of External Affairs Arindam Bagchi.
PM Modi reached Abu Dhabi on Saturday morning and held talks with President Sheikh Mohammed bin Zayed Al Nahyan. PM Modi’s UAE visit was marked by key agreements including the opening of a new IIT Delhi campus in Abu Dhabi. The two countries also promised to promote the use of local currencies (rupee and dirham) for cross-border transactions and to interconnect payment systems.
During the visit, PM Modi and UAE President Mohamed bin Zayed Al Nahyan witnessed the exchange of three historic Memorandum of Understanding (MoUs). An MoU was signed between the Reserve Bank of India and the Central Bank of the United Arab Emirates on the Local Currency Settlement (LCS) System to enable the use of the Indian Rupee (INR) and the United Arab Emirates Dirham (AED) for cross-border transactions. were done.
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PM Modi tweeted, “This is a very important aspect of India-UAE cooperation. It paves the way for enhanced economic cooperation and will simplify international financial interactions.” Another MoU was exchanged between the Ministry of Education of India, the Abu Dhabi Department of Education and Knowledge of the United Arab Emirates and the Indian Institute of Technology, Delhi (IIT) Delhi for the establishment of a campus of IIT Delhi in Abu Dhabi.
It is the first IIT to be established in the Middle East/North Africa (MENA) region. It is a landmark project that reflects the vision of the leaders and will be a tribute to the people of India and the UAE who form the backbone of the historic ties. “This marks a significant progress in our educational internationalization and a testimony to India’s innovation potential. Education is the bond that unites us, it is the spark that ignites innovation. Together, we can create mutual prosperity and a global Will leverage this power for the better.” Narendra Modi tweeted.
The third MoU on Bilateral Cooperation on Interconnection of Payment and Messaging Systems was exchanged between the Reserve Bank of India and the Central Bank of the United Arab Emirates. The MoU will facilitate the integration of India’s Unified Payments Interface (UPI) and UAE’s Instant Payment Platform (IPP). It will also facilitate interconnection of card switches of both countries – RuPay Switch and UAESwitch – to facilitate mutual acceptance of their domestic cards and processing of card transactions directly without relying on any other network.
Prior to the UAE tour, PM Modi was in Paris, where in a historic moment, French President Emmanuel Macron conferred the Grand Cross of the Legion of Honor on Prime Minister Narendra Modi. It is the highest French honor in military or civilian orders. With this, PM Modi has become the first Indian PM to receive this honour.
French President Emmanuel Macron and French First Lady Brigitte Macron hosted PM Modi at the Elysee Palace. Prime Minister Narendra Modi also attended the Bastille Day parade at the Champs-Élysées as a guest of honor at the invitation of French President Macron. The highlight of PM Modi’s visit to France was the signing of MoUs to further enhance cooperation in the defense sector including the first Scorpene submarine building program (P 75 – Kalvari), a model of ‘Make-in-India’ and sharing of naval expertise Was. companies of both the countries.
In a joint statement issued after PM Modi’s delegation-level talks with President Macron, the two leaders appreciated the cooperation between the naval companies of the two countries in sharing their expertise. The leaders also expressed satisfaction over the Memorandum of Understanding (MoU) signed between [TT3] [P4] Mazagon Dockyard Limited and Naval Group, which outline the construction of three additional submarines as part of the P75 programme.
Scorpene submarines are extremely powerful platforms, have advanced stealth features and are armed with long-range guided torpedoes as well as anti-ship missiles. These submarines have state-of-the-art sonar suite and sensor suite which allows for excellent operational capabilities. With a view to adopting a roadmap on defense industrial cooperation between the two countries, India is setting up a technical office of DRDO at its embassy in Paris.
Highlighting the French commitment to the “Make-in-India” initiative, PM Modi and President Macron also appreciated defense industrial partnerships rooted in mutual trust, including Safran helicopter engines and HAL for transfer of technology for forgings and castings contract between. power engine.
In line with their excellent cooperation in military aviation for over five decades, India and France welcome the timely delivery of the 36 Rafales ordered by India. In a significant decision, India and France on Friday decided to enhance their unprecedented defense cooperation in advanced aeronautical technologies by supporting joint development of fighter aircraft engines.
A roadmap on this project will be prepared between French company Safran and Defense Research and Development Organization (DRDO) before the end of this year. They also decided to support industrial collaboration for motorization of heavy-lift helicopters under the Indian Multi Role Helicopter [IMRH] Program with Safran Helicopter Engines.