BRICS summit drives UAE-India economic and financial cooperation

IBPC Dubai said the bilateral discussions at the 18th BRICS Summit in New Delhi have created new momentum for UAE-India economic and development cooperation. Dr Sahitya Chaturvedi, Secretary-General of IBPC Dubai, described the talks as a strategic convergence between the UAE's "We the UAE 2031" growth vision and India's "Viksit Bharat @2047" roadmap.

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Chaturvedi said the meeting between H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Indian Prime Minister Narendra Modi covered defence, AI, space, critical minerals and CEPA.

He said the talks offer a blueprint for co-creating a prosperity corridor within BRICS. He also pointed to the INR, AED local currency settlement mechanism and the UPI, Aani linkage as among the summit's most transformative initiatives.

According to Chaturvedi, the two measures could create a seamless digital and financial corridor for more than 4 million Indians in the UAE and support the interests of more than 85,000 Indian businesses in Dubai. He said the initiatives represent "financial pragmatism, not de-dollarisation," and would help address exchange-rate volatility, trade barriers and financial inclusion.

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#BRICS #CEPA #UPI #Aani #AED

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